FINANCIAL HIGHLIGHTS

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
 

Braime Pressings Limited - revenue has increased although profitability remains unchanged
  • Revenue of £8.2 million up 11% (2017: £7.4 million)
  • Intercompany revenue has grown to £3.9 million (2016: £3.2 million) reflecting growth in materials handling division
  • Focus for the manufacturing division is process improvement to improve productivity
  • Continued nvestment in new equipment will result in productivity gains in the coming year
     
The materials handling division (4B group) has seen revenue grow to £37.9 million (2017: £32.5 million)
  • Revenue of £37.9 million up 11% (2017: £32.5 million)
  • Intercompany activity £6.5m (2017: £5.1 million)
  • Continued penetration in home markets
  • New subsidiary set up in China
Central costs have remained at £0.2 million (2017: £0.2 million)
Outlook - Continued growth in materials handling particularly agricultural commodities. Careful strategy to manage costs in manufacturing.
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)
Braime Pressings Limited - revenue has increased although profitability remains unchanged
  • Revenue of £4.2 million up 35% (2017: £3.1 million)
  • Intercompany revenue has grown by 40% to £1.6 million (2017: 1.1 million)
  • Investment in new presses and robotic cells
The materials handling division (4B group) has seen revenue grow to £17.7 million (2017: £15.8 million)
  • Revenue of £17.7 million up 12% (2017: £15.8 million)
  • Intercompany revenue has remained steady at £2.3 million (2017: £2.3 million)
  • Australasia market share is increasing.  China operations opened recently
Central costs - half year costs increased to £267,000 (2017: £15,000) due to more central costs being retained in Pressings in first half of 2017
Continued growth in materials handling particularly agricultural commodities. Careful strategy to manage costs in manufacturing