FINANCIAL HIGHLIGHTS
2019 Interim announcement
Nicholas Braime, Chairman said:
"Performance for the first half of the year is less than we had hoped for based on our growth in previous years, but it is better than we feared, given the current uncertainties in the global and local economic and political environment."
| For the six months ended 30th June 2019 | Unaudited 6 months to 30th June 2019 £'000 | Unaudited 6 months to 30th June 2018 £'000 |
|---|---|---|
| Revenue | 17,077 | 18,069 |
| Changes in inventories of finished goods and work in progress | 1,174 | 558 |
| Raw materials and consumables used | (10,501) | (10,332) |
| Employee benefits costs | (3,719) | (3,287) |
| Depreciation expense | (536) | (305) |
| Other expenses | (2,209) | (3,522) |
| Profit from operations | 1,286 | 1,181 |
| Finance costs | (216) | (19) |
| Finance income | 1 | - |
| Profit before tax | 1,071 | 1,162 |
| Tax expense | (315) | (340) |
| Profit for the period | 756 | 822 |
| Profit attributable to: | ||
| Owners of the parent | 751 | 830 |
| Non-controlling interests | 5 | (8) |
| 756 | 822 | |
| Basic and diluted earnings per share | 52.49p | 57.08p |
Group Financial Highlights
- Dividend is increased from 3.5p to 3.6p per share for both Ordinary and 'A' Ordinary Shares.
- Group revenue at £17.1 million (2018: £18.1 million)
- Earnings before interest, tax, depreciation and amortisation (EBITDA) at £1.8 million (2018: £1.5 million)
- Basic and diluted earnings per share at 52.49p (2018: 57.08p)
- Cash balance at 30th June 2019 £427,000 (2018: £938,000)
2018 Full year announcement
Nicholas Braime, Chairman said:
"I am delighted to report that the Group’s sales revenue increased in 2018 by 13.6% to £35.7m from £31.4m in 2017 and the profit from operations increased to £3.2m, compared to £2.3m last year. As a group we continue to benefit from our long-term strategy of investment in continually developing new products and new markets."
| Year ended 31st December 2018 | 2018 £'000 | 2017 £'000 |
|---|---|---|
| Revenue | 35,718 | 31,449 |
| Changes in inventories of finished goods and work in progress | 1,229 | 114 |
| Raw materials and consumables used | (19,677) | (16,955) |
| Employee benefits costs | (8,300) | (7,449) |
| Depreciation and amortisation expense | (788) | (803) |
| Other expenses | (4,940) | (4,015) |
| Profit from operations | 3,242 | 2,341 |
| Finance expense | (227) | (143) |
| Finance income | 2 | 3 |
| Profit before tax | 3,017 | 2,201 |
| Tax expense | (788) | (621) |
| Profit for the year | 2,229 | 1,580 |
| Profit attributable to: | ||
| Owners of the parent | 2,178 | 1,719 |
| Non-controlling interests | 51 | (139) |
| 2,229 | 1,580 | |
| Basic and diluted earnings per share | 154.79p | 109.73p |
Group Financial Highlights
Record turnover and total dividend up from 10.20p to 11.50p
- Group revenue at a record level of £35.7 million (2017: £31.4 million)
- Pre-tax profits at £3.0 million (2017: £2.2 million)
- Earnings before interest, tax, depreciation and amortisation (EBITDA) at £4.0 million (2017: £3.1 million)
- Basic and diluted earnings per share at 154.79p (2017: 109.73p)
- Cash balances increased to £1.5 million (2017: £1.0 million)
- Bank borrowings of £1.4 million (2017: £1.0 million)
- The board is recommending a second interim dividend of 8.00p per share (2017: 7.10p) to the holders of Ordinary and 'A' Ordinary shares, an increase of 12.75% on 2017
Operating Highlights