FINANCIAL HIGHLIGHTS
2019 Full year announcement
Nicholas Braime, Chairman said:
"We are in unknown territory and whilst the Group is currently in a relatively fortunate position, we are taking the necessary steps to ensure we remain flexible, carefully managing our cashflow, and keeping expenditure under constant review."
| Year ended 31st December 2019 | 2019 £'000 | 2018 £'000 |
|---|---|---|
| Revenue | 33,433 | 35,718 |
| Changes in inventories of finished goods and work in progress | 959 | 1,229 |
| Raw materials and consumables used | (17,986) | (19,677) |
| Employee benefits costs | (8,530) | (8,300) |
| Depreciation and amortisation expense | (1,236) | (788) |
| Other (expenses)/operating income | (4,419) | (4,940) |
| Profit from operations | 2,221 | 3,242 |
| Finance expense | (477) | (227) |
| Finance income | 2 | 2 |
| Profit before tax | 1,746 | 3,017 |
| Tax expense | (397) | (788) |
| Profit for the year | 1,349 | 2,229 |
| Profit attributable to: | ||
| Owners of the parent | 1,360 | 2,178 |
| Non-controlling interests | (11) | 51 |
| 1,349 | 2,229 | |
| Basic and diluted earnings per share | 94.44p | 151.25p |
Group Financial Highlights
Total dividend 11.60p (2018: 11.50p)
- Group revenue of £33.4 million (2018: £35.7 million)
- Pre-tax profits at £1.75 million (2018: £3.0 million)
- Earnings before interest, tax, depreciation and amortisation (EBITDA) at £3.5 million (2018: £4.0 million)
- Basic and diluted earnings per share at 94.44p (2018: 151.25p)
- Cash balances decreased to £0.7 million (2018: £1.5 million)
- Bank borrowings of £1.2 million (2018: £1.4 million)
- The board is recommending a second interim dividend of 8.00p per share (2018: 8.00p) to the holders of Ordinary and 'A' Ordinary shares
Operating 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)