NEWS STORY

Low & Bonar PLC 2015 Final Results

February 2, 2016

Final Results for the Year ended 30 November 2015

GOOD PROGRESS AGAINST CHALLENGING MARKET CONDITIONS

 

Low & Bonar PLC (“Low & Bonar” or “the Group”), the international performance materials group, today announces its final results for the year ended 30 November 2015.

  2015 2014 Actual Constant currency(1)
Revenue £395.8m £410.6m -3.6% +2.4%
Operating profit (2) £32.8m £31.7m +3.5% +9.7%
Operating margin (3) 8.3% 7.7%   -
Profit before tax (2) £26.6m £25.2m +5.6% +12.2%
Profit before tax (statutory) (4) £12.4m £16.7m    
Basic EPS (2) 5.61p 5.46p +2.7%  
Dividend per share 2.78p 2.70p +3.0%  
Return on capital employed (5) 12.0% 11.4%    

(1) Constant currency is calculated by retranslating comparative period results at current period exchange rates.
(2) Before amortisation and non-recurring items.
(3) Operating profit as a percentage of revenue.
(4) After amortisation and non-recurring items.
(5) Operating profit as a percentage of net assets plus net debt.

  • Good progress made in all global business units; Civil Engineering stabilised
  • Operating margin improved 60 bps to 8.3%, progress towards medium term objective of 10%+
  • Return on capital employed increased to 12%, in line with stated medium term objective
  • Colback facility in China has recently started commercial production as planned
  • New Group structure starting to deliver benefits
  • Non-recurring impairment charge of £8.2m for Saudi Arabian joint venture
  • Increased final dividend of 1.80 pence per share proposed (2014: 1.75 pence), an increase of 3% for full year
     

Martin Flower, Chairman, said:

“The Group has continued to progress, delivering a good performance against a challenging market backdrop.

Whilst it is expected that market conditions in some of the Group’s end markets will remain difficult, the Board is confident that, with continued focus on efficiency gains and improved commercial execution, further progress will be made in the current year.”

2 February 2016

READ NEXT ARTICLE

Low & Bonar completes largest PVD project in the USA at Port of Charleston

Homepage News & Events Low & Bonar completes largest PVD project in the USA at Port of Charleston Low & Bonar completes ...

February 2, 2016

Low & Bonar PLC 2015 Final Results

For further information, please contact:

Low & Bonar PLC
Brett Simpson, Group Chief Executive Officer   
Mike Holt, Group Chief Financial Officer 

020 7535 3180

Instinctif Partners
Matthew Smallwood                                            
Helen Tarbet

020 7457 2020

View the full results announcement