Financial highlights
|
Six months ended 30 September 2015 £'000 |
Six months ended 30 September 2014 £'000 |
% Change |
|
|
Revenue |
24,489 |
16,537 |
+48.1% |
|
EBITDA |
2,464 |
2,200 |
+12.0% |
|
Profit before tax |
1,526 |
1,547 |
-1.4% |
|
Earnings per share (p) |
4.0 |
4.6 |
-13.6% |
|
Dividend per share (p) |
1.46 |
1.33 |
+9.8% |
Operational highlights
Revenue up 48%, driven by prior year acquisition and ongoing strong performance of Flexipol
At constant exchange rates and polymer prices:
o EBITDA up 29%
o Earnings per share up 7%
Flexipol now successfully integrated, performing strongly and starting to benefit from synergies and cross-selling opportunities across the Group
Bearings sales up 5% due to momentum from prior business wins and key account growth
Excellent new business wins in hydraulic hose mandrels, increasing market share and compensating for softer industrial end markets
Commenting on these results, Faisal Rahmatallah, Executive Chairman, said:
"I am pleased to report excellent progress in our films and bearings businesses, where sales and profit growth has been good. Order books in these business areas are strong and we anticipate a significantly improved performance in the second half year, which we believe will be further assisted by improving foreign exchange hedge rates and raw material prices. The Board therefore expects the Group to continue to trade in line with expectations for the rest of the financial year."
