The Alumasc Group Plc – Interim Announcement
Alumasc, the premium building and engineering products group, recently reclassified by FTSE under Construction & Materials, announces its results for the half year ended 31 December 2005.
• As previously indicated, pre-tax profit reduced – to £2.9m from £3.7m on continuing activities – due to the reduced Engineering profit.
• Earnings per share on continuing activities reduced to 5.9p from 7.1p.
• The interim dividend per share is maintained at 3.0p, reflecting the Board’s confidence in the prospects for the second half-year.
• Trading losses and redundancy costs at the discontinued activity, Copal Casting, cost £1.4m (before tax), as forecast in November.
• Building Products moved strongly ahead, growing turnover by £4.0m (18.5%) to £25.9m and increasing profits by 5% to £2.5m.
• Precision Engineering made considerable progress in securing new work to replace the business which ceased on the demise of Rover in April 2005, but contributed to the reduced Engineering profit.
John McCall, Chairman, stated “In recent years, the group’s second half has consistently outperformed the first half for reasons principally associated with seasonal factors, including the incidence of holidays in our markets. The Board has stated that it expects this bias in favour of the second half to continue, indeed to increase in the current year. Progress with new projects and the level of order books in those businesses where we enjoy the benefit of forward vision lead the Board to expect an improving performance in each of our business areas in the second half-year.”
Today, from 09:30am to 10:30am, a presentation to broker’s analysts and private client investment advisers will be held at the offices of Bankside Consultants, 1 Frederick’s Place, London EC2R 8AE.click here to download the interim announcement 2006.
The Alumasc Group plc 01536 383844
Paul Hooper (Chief Executive) email@example.com
John McCall (Chairman)
Bankside Consultants Limited
Charles Ponsonby 020 7367 8851