Low & Bonar PLC, the international performance materials group, announces its half year results for the six months ended 31 May 2014.
Low & Bonar PLC, the international performance materials group, announces its half year results for the six months ended 31 May 2014. #
Highlights:
-Strong sales and profit growth
-Civil Engineering and Building Product sectors significantly ahead of weak comparatives
-Texiplast acquisition successfully integrated and performing well
-Interim dividend increased by 11.8% to 0.95p per share
-Good sales momentum carried into traditionally stronger second half
Low & Bonar PLC, the international performance materials group, announces its half year results for the six months ended 31 May 2014. #
Operating results
Revenue for the company increased by 6.6% to £196.3m from £184.1m and at constant currency it increased by 10.2% and for twelve months ending November 30 revenue reached £403.1m.
Low & Bonar PLC, the international performance materials group, announces its half year results for the six months ended 31 May 2014. #
Operating margin increased by 40bps to 5.9% from 5.5% and for twelve months ending November 30 operating margin increased to 7.8%.
Low & Bonar PLC, the international performance materials group, announces its half year results for the six months ended 31 May 2014. #
PBTA increased by 22.9% to £8.6m from £7.0m and at constant currency it increased by 34.9% and for twelve months ending November 30 PBTA amounted to £25.3m.
Low & Bonar PLC, the international performance materials group, announces its half year results for the six months ended 31 May 2014. #
Profit before taxation (statutory) increased to £5.2m from £3.4m and for twelve months ending November 30 it amounted to £16.7m.
Low & Bonar PLC, the international performance materials group, announces its half year results for the six months ended 31 May 2014. #
Basic EPS increased by 13.4% to 1.86p from 1.64p and at constant currency it increased by 24.8% and for twelve months ending November 30 it touches 5.98p.
Low & Bonar PLC, the international performance materials group, announces its half year results for the six months ended 31 May 2014. #
Dividend per share increased by 11.8% to 0.95p from 0.85p and at constant currency it increased by 11.8% and for twelve months ending November 30 it amounts to 2.60p.
Low & Bonar PLC, the international performance materials group, announces its half year results for the six months ended 31 May 2014. #
ROCE increased by 180bps to 15.7% from 13.9% and for twelve months ending November 30 it reaches 16.3%.
Low & Bonar PLC, the international performance materials group, announces its half year results for the six months ended 31 May 2014. #
Underlying performance on track to deliver management expectations for the full year Martin Flower, Chairman, said, "The Group has made a strong start to the year; constant currency sales and profits are significantly ahead of last year. Notwithstanding currency headwinds, with good sales momentum carried into the Group’s traditionally stronger second half, we remain confident that full year profits will show significant growth over last year.
Low & Bonar PLC, the international performance materials group, announces its half year results for the six months ended 31 May 2014. #
“During the last two years the Group has increased investment levels and built organisational capability to better position itself globally. We are now benefiting from these investments and expect to continue to grow and extend our geographic reach over the next two years.”
Low & Bonar PLC, the international performance materials group, announces its half year results for the six months ended 31 May 2014. #
Low & Bonar PLC
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