John Foster, Chief Executive said:
“I am pleased to report that profits have continued to rise alongside the achievement of record revenues;
It has been a busy year for the Group and one of notable recovery in a number of divisions. With a particularly improved performance from Momart and good trading at our other two operating businesses, FIC and PHFC, and a favourable outlook in the Falkland Islands in particular, we are delighted to be recommending an increased dividend for the full year.
"With our strong cash position, we continue to actively seek suitable acquisition opportunities, and are confident that we are well-positioned for the year ahead.”
|Year ended 31 March|
|Underlying operating profit||3,633||2,805||29.5|
|Share of Joint Venture underlying results||18||24||-25.0|
|Amortisation of intangiables||-||(136)||-|
|Professional fees incurred on failed Takeover||-||(530)||-|
|Other non-trading items||61||157||-61.1|
|Interest(net) inc. pension costs||(416)||(433)||-3.9|
|Reported profit before tax||3,296||1,887||74.7|
|Diluted earnings per share before amortisation and non-trading items||19.7p||15.3p||28.5|
|Diluted weighted average shares in issue||12,524,512||12,430,505||0.8|
Record turnover and cash position with a 12.5% increase in full year dividend
The company will renew its focus on identifying complementary value enhancing acquisitions, on the basis of sensible purchase prices, clear synergies and a pathway to sustainable growth.