FINANCIAL HIGHLIGHTS

2021 Interim announcement

Nicholas Braime, Chairman said:

"Following the upheaval of the previous year brought about by the global pandemic, the Group has seen a surge in customer demand, with all sectors performing strongly."

For the six months ended 30th June 2021 Unaudited 6 months to 30th June 2021 £'000 Unaudited 6 months to 30th June 2020 £'000
Revenue 18,212 16,114
Changes in inventories of finished goods and work in progress 51 492
Raw materials and consumables used (9,661) (8,954)
Employee benefits costs (4,366) (4,406)
Depreciation expense (655) (646)
Other (expenses)/operating income (2,592) (2,146)
Profit from operations 989 454
Finance costs (106) (82)
Finance income 2 -
Profit before tax 885 372
Tax expense (220) (114)
Profit for the period 665 258
Profit attributable to:
Owners of the parent 608 242
Non-controlling interests 57 16
665 258
Basic and diluted earnings per share 46.18p 16.81p

Group Financial Highlights

  • Dividend is increased from 4.00p to 4.25p per share for both Ordinary and 'A' Ordinary Shares.
  • Group revenue at £18.2 million (2020: £16.1 million)
  • Earnings before interest, tax, depreciation and amortisation (EBITDA) at £1.6 million (2020: £1.1 million)
  • Basic and diluted earnings per share at 46.18p (2020: 16.81p)
  • Cash balance at 30th June 2021 £764,000 (2020: £822,000)
Braime Pressings Limited - revenue has increased following an increase in customer demand particularly the automotive sector
  • Total revenue of £4.6 million up 25% (2020: £3.6 million)
  • Intercompany revenue has increased by 14% to £1.9 million (2020: 1.7 million)
  • The business is now developing new sectors including construction
The materials handling division (4B group) revenues have seen improvement across all geographical regions and product groups
  • Revenue of £18.2 million up 10% (2020: £16.5 million)
  • Intercompany revenue has increased to £2.6 million (2020: £2.4 million)
  • The division has benefited from a large chain order from the Middle East
Central costs - half year costs excluding the chain cell provision has increased by 45,000 (2020: £15,000)
The business has been undertaking significant repairs to its HQ during the year
2020 Full year announcement

Nicholas Braime, Chairman said:

"In normal circumstances the 2020 result would be very disappointing but in the quite exceptional circumstances that affected the Group globally the result achieved was significantly better than we had dared hope for much of the year."

Year ended 31st December 2020 2020 £'000 2019 £'000
Revenue 32,803 33,433
Changes in inventories of finished goods and work in progress (63) 959
Raw materials and consumables used (17,428) (17,986)
Employee benefits costs (8,408) (8,530)
Depreciation and amortisation expense (1,280) (1,236)
Other (expenses)/operating income (4,247) (4,419)
Profit from operations 1,377 2,221
Finance expense (191) (477)
Finance income 9 2
Profit before tax 1,195 1,746
Tax expense (341) (397)
Profit for the year 854 1,349
Profit attributable to:
Owners of the parent 823 1,360
Non-controlling interests 31 (11)
854 1,349
Basic and diluted earnings per share 59.31p 93.68p

Group Financial Highlights

Total dividend 11.80p (2019: 11.60p)

  • Group revenue of £32.8 million (2019: £33.4 million)
  • Pre-tax profits at £1.20 million (2019: £1.75 million)
  • Earnings before interest, tax, depreciation and amortisation (EBITDA) at £2.7 million (2019: £3.5 million)
  • Basic and diluted earnings per share at 59.31p (2019: 93.68p)
  • Cash balances increased to £1.2 million (2019: £0.7 million)
  • Bank borrowings of £1.7 million (2019: £1.2 million)
  • The board is recommending a second interim dividend of 7.80p per share (2019: 8.00p) to the holders of Ordinary and 'A' Ordinary shares

Operating Highlights
 

Braime Pressings Limited
  • Revenue of £6.8 million (2019: £6.9 million)
  • External revenue up £0.3 million to £3.7 million
  • Intercompany revenue has fallen to £3.1 million (2019: £3.4 million) reflecting reduced 4B division activity
  • Loss of £0.2 million has reduced marginally from prior year
Materials handling division (4B group)
  • Revenue of £34.2 million down 6% (2019: £36.2 million)
  • Intercompany activity £5.2 million (2019: £6.2 million)
Central costs have increased to £0.4 million (2019: £0.2 million) due to property maintenance expenses in the year.
Outlook - We continue to invest time and resources to improve operations and develop new products. We can see a gradual increase in confidence and in the number of new projects generated by our customers worldwide.