Print page 
Press Releases
19 Jul 2006
Low & Bonar PLC 2006 Interim Results
Low & Bonar PLC, the specialist materials group, today reports its results for the half year ended 31 May 2006.
2006 |
2005 |
% |
|
| Turnover | £89.7m |
£78.2m |
14.7% |
| Turnover – continuing businesses | £86.2m |
£78.2m |
10.3% |
| Operating profit (before amortisation and non-recurring items) | £5.1m |
£4.6m |
9.8% |
| Profit before tax (before amortisation and non-recurring items) | £4.5m |
£3.8m |
20.9% |
| Earnings per share (before amortisation and non-recurring items) | 3.09p |
2.74p |
12.8% |
| Dividend per share | 1.8p |
1.7p |
5.9% |
| Operating profit (after amortisation and non-recurring items) | £3.5m |
£4.4m |
(21.9)% |
| Profit before tax (after amortisation and non-recurring items) | £2.9m |
£3.5m |
(18.2)% |
| Basic earnings per share | 1.95p |
2.95p |
(33.9)% |
Highlights
| Turnover up 15% to £89.7m with continuing turnover up 10% to £86.2m | ||
| Solid progress in Floors Division with revenues up 7% to £47.8m driven by successful range launches | ||
| Yarns & Fabrics Divisional revenues up 25% to £41.8m of which organic revenues were up 14% | ||
| Increase in operating profit before amortisation and non-recurring items of 10% to £5.1m despite the negative impact of higher raw material prices and energy costs | ||
| Recent acquisitions – Xirion, Threshold and Geotipptex – successfully integrated and performing as planned | ||
| Proposed acquisition of Colbond, announced on 7 July 2006, will provide a step change for the Group and create exciting new strategic opportunities within the technical textiles market |
Commenting on the results, Paul Forman, Group Chief Executive, said:
“This has been another strong performance with revenue growth in both our Divisions and profit growth in spite of further increases in raw material costs. We have also seen good performances from our recent acquisitions. The proposed acquisition of Colbond provides exciting new strategic opportunities for us within the technical textiles market and further enhances the Group’s long-term growth potential.”
Enquiries:
| Low & Bonar PLC: Paul Forman, Group Chief Executive | +44 (0) 20 7535 3191 |
| Tulchan Communications: David Trenchard / Peter Hewer | +44 (0) 20 7353 4200 |
View the full results announcement (in PDF format).
View the Key Financial Data (in PDF format).