NEWS STORY

Low & Bonar PLC 2015 Half Year Results

June 2, 2015

Low & Bonar PLC (“Low & Bonar” or “the Group”), the international performance materials group with leading positions in niche industrial markets, today announces its half-year results for the six months ended 31 May 2015.

  6 months to
31 May
    12 months to
30 Nov
  2015 2014 Actual Constant
Currency1
2014
Revenue £186.0m £196.3m (5.2)% 0.9% £410.6m
Operating margin2 6.8% 5.9%     7.7%
PBTA2 £9.7m £8.6m 12.8% 19.8% £25.2m
Profit before taxation (statutory) £7.4m £5.2m 42.3%   £16.7m
Basic EPS2 2.04p 1.86p 9.7% 16.6% 5.46p
Dividend per share 0.98p 0.95p 3.2%   2.70p
ROCE3 11.8% 11.4%     11.4%

Highlights:

  • Revenue increased by 0.9% on a constant currency basis; overall sales volumes were 3% up
  • Year-on-year profit growth assisted by lower raw material costs
  • Profit increases in Interiors & Transport, Building & Industrial and Coated Technical Textiles
  • Sports & Leisure performing well and gaining market share
  • Civil Engineering markets remain challenging but stable
  • Slow progress at Bonar Natpet


Martin Flower, Chairman, said:

"We have made steady progress in the first half buoyed by favourable raw material pricing. It is gratifying to see profit increases and market share gains in most sectors. Some of these gains have been offset by significantly lower profits in Civil Engineering and a slower than anticipated sales progression at Bonar Natpet.

Overall, we remain on track to meet the Board’s expectations for the full year.”

1 Constant currency is calculated by retranslating comparative period results at current period rates
2 Before amortisation and non‐recurring items
3 Last 12 months’ operating profit2 as a percentage of net assets plus net debt 

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June 2, 2015

Low & Bonar PLC 2015 Half Year 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 
Matthew Smallwood                                            
Helen Tarbet

020 7457 2020

View the full results announcement