FINANCIAL HIGHLIGHTS
Nicholas Braime, Chairman said:
"I am delighted with the results given the general sentiment about the economic climate at the start of the year."
| Year ended 31st December 2024 | 2024 £'000 | 2023 £'000 |
| Revenue | 48,947 | 48,155 |
| Changes in inventories of finished goods and work in progress | 1,718 | (426) |
| Raw materials and consumables used | (27,292) | (25,188) |
| Employee benefits costs | (11,956) | (11,009) |
| Depreciation and amortisation expense | (1,474) | (1,678) |
| Other (expenses)/operating income | (6,291) | (6,106) |
| Exceptional item | - | - |
| Profit from operations | 3,652 | 3,748 |
| Finance expense | (513) | (485) |
| Finance income | 59 | 72 |
| Profit before tax | 3,198 | 3,335 |
| Tax expense | (865) | (999) |
| Profit for the year | 2,333 | 2,336 |
| Profit attributable to: | ||
| Owners of the parent | 2,280 | 2,274 |
| Non-controlling interests | 53 | 62 |
| 2,333 | 2,336 | |
| Basic and diluted earnings per share | 158.37p | 157.88p |
Group Financial Highlights
Total dividend 15.25p (2023: 14.75p)
- Group revenue of £48.9 million (2023: £48.2 million)
- Pre-tax profits at £3.20 million (2023: £3.34 million)
- Earnings before interest, tax, depreciation, amortisation and exceptional costs (EBITDA) at £5.1 million (2023: £5.4 million)
- Basic and diluted earnings per share at 158.37p (2023: 157.88p)
- Cash balances decreased to £1.9 million (2023: £2.2 million)
- Bank borrowings of £2.5 million (2023: £2.9 million)
- The board is recommending a second interim dividend of 10.00p per share (2023: 9.50p) to the holders of Ordinary and 'A' Ordinary shares
Operating Highlights
Nicholas Braime, Chairman said:
"The directors are pleased that 2024 revenues have improved by 6% from the second half of 2023 and profit from operations are up 26% from the second half of 2023."
| For the six months ended 30th June 2024 | Unaudited 6 months to 30th June 2024 £'000 | Unaudited 6 months to 30th June 2023 £'000 |
| Revenue | 24,750 | 24,706 |
| Changes in inventories of finished goods and work in progress | 215 | (49) |
| Raw materials and consumables used | (13,073) | (12,650) |
| Employee benefits costs | (5,967) | (5,398) |
| Depreciation expense | (760) | (828) |
| Other (expenses)/operating income | (3,363) | (3,467) |
| Profit from operations | 1,802 | 2,314 |
| Finance costs | (259) | (199) |
| Finance income | 3 | - |
| Profit before tax | 1,546 | 2,115 |
| Tax expense | (451) | (605) |
| Profit for the period | 1,095 | 1,510 |
| Profit attributable to: | ||
| Owners of the parent | 1,097 | 1,478 |
| Non-controlling interests | (2) | 32 |
| 1,095 | 1,510 | |
| Basic and diluted earnings per share | 76.04p | 104.86p |
Group Financial Highlights
- Dividend remains the same at 5.25p per share for both Ordinary and 'A' Ordinary Shares
- Group revenue at £24.8 million (2023: £24.7 million)
- Earnings before interest, tax, depreciation and amortisation (EBITDA) at £2.6 million (2023: £3.1 million)
- Basic and diluted earnings per share at 76.04p (2023: 104.86p)
- Net cash at 30th June 2024 £450,000 (2023: £886,000)