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Low & Bonar FYH1 revenue up 6.3%

07 Jul '16

2 min read

Revenue at performance materials producer Low & Bonar rose 6.3 per cent year over year to £180.6 million for the first half of fiscal 2016.

Operating margin for the six months to May 31, 2016 stood at 7.4 per cent as against 7.2 per cent in the corresponding period of the previous fiscal.

In the reporting period, profit before tax and amortisation grew 5 per cent year on year to £10.6 million, while profit before taxation totaled £8.3 million, up from £7.8 million in the six months to May 31, 2015 period.

Low & Bonar reported basic earnings per share of 2.16 pence in the period under review compared to 2.19 pence, down 1.4 per cent.

“The Group has continued to execute its strategy, with the start of production in China, the exit from grass yarns and the work to find a solution for Bonar Natpet,” chairman Martin Flower said.

“At the same time we are starting to realise the benefits of the reorganised business structure and leadership,” he added.

Flower further added, “Taking into account various factors affecting the Group, we remain confident of meeting the board's expectations for the full fiscal.” (AR)

Fibre2fashion News Desk - India