FINANCIAL HIGHLIGHTS
Full year announcement
Nicholas Braime, Chairman said:
"I am pleased to report that the group's revenue in 2017 rose by 10.7% to £31.4m. After deducting taxes, the profit for 2017 is £1.6m, and is significantly above the result of £0.9m. This improvement is the direct result of the process of continuous investment in both new products and the development and extension of of overseas markets."
| Year ended 31st December 2017 | 2017 £'000 | 2016 £'000 |
|---|---|---|
| Revenue | 31,449 | 28,415 |
| Changes in inventories of finished goods and work in progress | 114 | 337 |
| Raw materials and consumables used | (16,955) | (15,891) |
| Employee benefits costs | (7,449) | (6,726) |
| Depreciation and amortisation expense | (803) | (801) |
| Other expenses | (4,015) | (3,940) |
| Profit from operations | 2,341 | 1,394 |
| Finance expense | (143) | (150) |
| Finance income | 3 | 30 |
| Profit before tax | 2,201 | 1,274 |
| Tax expense | (621) | (419) |
| Profit for the year | 1,580 | 855 |
| Profit attributable to: | ||
| Owners of the parent | 1,719 | 932 |
| Non-controlling interests | (139) | (77) |
| 1,580 | 855 | |
| Basic and diluted earnings per share | 109.73p | 59.34p |
Group Financial Highlights
Record turnover and total dividend up from 9.30p to 10.20p
- Group revenue at a record level of £31.4 million (2016: £28.4 million)
- Pre-tax profits at £2.2 million (2016: £1.3 million)
- Earnings before interest, tax, depreciation and amortisation (EBITDA) at £3.1 million (2016: £2.2 million)
- Basic and diluted earnings per share at 109.73p (2016: 59.34p)
- Cash balances increased to £1.0 million (2016: £0.7 million)
- Bank borrowings of £1.0 million (2016: £1.1 million)
- The board is recommending a second interim dividend of 7.10p per share (2016: 6.40p) to the holders of Ordinary and 'A' Ordinary shares, an increase of 10% on 2016
Operating Highlights
Interim announcement
Nicholas Braime, Chairman said:
"I am pleased to report that the group's revenue for the first six months of 2018 rose by 16% to £18.1m, while profit before tax increased by 96% to £1.16m, compared to the same period last year."
| For the six months ended 30th June 2018 | Unaudited 6 months to 30th June 2018 £'000 | Unaudited 6 months to 30th June 2017 £'000 |
|---|---|---|
| Revenue | 18,069 | 15,540 |
| Changes in inventories of finished goods and work in progress | 558 | (36) |
| Raw materials and consumables used | (10,332) | (8,414) |
| Employee benefits costs | (3,287) | (3,637) |
| Depreciation expense | (305) | (369) |
| Other expenses | (3,522) | (2,426) |
| Profit from operations | 1,181 | 658 |
| Finance costs | (19) | (68) |
| Finance income | - | 2 |
| Profit before tax | 1,162 | 592 |
| Tax expense | (340) | (179) |
| Profit for the period | 822 | 413 |
| Profit attributable to: | ||
| Owners of the parent | 830 | 448 |
| Non-controlling interests | (8) | (35) |
| 822 | 413 | |
| Basic and diluted earnings per share | 57.08p | 28.72p |
Group Financial Highlights
- Dividend is increased from 3.1p to 3.5p per share for both Ordinary and 'A' Ordinary Shares.
- Group revenue at £18.1 million (2017: £15.5 million)
- Earnings before interest, tax, depreciation and amortisation (EBITDA) at £1.5 million (2017: £1.0 million)
- Basic and diluted earnings per share at 57.08p (2017: 28.72p)
- Cash reinvested in equipment, mainly new manufacturing site in USA
- Cash balance at 30th June 2018 £981,000 (2017: £13,933)