07 February 2012
Low & Bonar PLC 2011 Preliminary Results
Preliminary Results for the year ended 30 November 2011
ANOTHER YEAR OF SUBSTANTIAL PROFIT GROWTH,
WELL POSITIONED FOR FURTHER PROGRESS
Low & Bonar PLC (“Low & Bonar” or “the Group”), the international performance materials group, today announces its preliminary results for the year ended 30 November 2011.
Highlights
Continuing operations
|
2011 |
2010 |
|
| Revenue |
£388.7m |
£344.6m |
+ 13% |
| Operating margin* |
7.9% |
7.5% |
+ 40bps |
| Profit before tax* |
£ 23.4m |
£ 18.6m |
+ 26% |
| Basic earnings per share* |
6.0p |
4.4p |
+ 35% |
| Profit before tax (statutory) |
£ 23.4m |
£ 10.2m |
+ 129% |
| Dividend per share |
2.1p |
1.6p |
+ 31% |
| Return on capital |
16.8% |
15.2% |
+ 11% |
* before amortisation and non-recurring items
- Substantial profit growth and accelerated progress towards targets
- Good fundamental growth drivers and management initiatives outweighing the impact of a weaker macro-economic climate
- Yarns business now profitable with further benefits from restructuring expected in 2012
- Earnings per share up 35%, full year dividend increased by 31% to 2.1p (2.8x cover)
- Confident of further growth underpinned by innovation, emerging market presence and efficiency improvement initiatives
Martin Flower, Chairman, said:
“These are excellent results during a period that has seen significant raw material inflation and macro-economic challenges within Europe and further demonstrate the quality of our business and its growth prospects.
The Group is targeting markets with strong fundamental growth drivers and continues to invest in a range of initiatives to sustain profitable growth through innovation, increased emerging market exposure and efficiency improvements.
The Group’s good trading momentum has continued into the new year and the Board remains confident that the Group is well-positioned to make further progress towards our stated targets.”
For further information, please contact:
Low & Bonar PLC
Steve Good, Group Chief Executive
Mike Holt, Group Finance Director
|
020 7535 3180 |
| | |
College Hill
Matt Smallwood/ Mike Davies / Helen Tarbet |
020 7457 2020 |
View the full results announcement (in PDF format).