6 September 2007
INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2007
|
|
30 June 2007 |
30 June 2006
|
|
Revenue |
£73.3m |
£75.2m |
|
Operating profit (before exceptional items) |
£8.1m |
£9.0m |
|
Operating margin (before exceptional items) |
11.0% |
12.0% |
|
Exceptional items |
£(0.3)m |
£(1.0)m |
|
Profit before tax |
£6.4m |
£7.1m |
|
Earnings per share |
2.8p |
3.1p |
|
Earnings per share (before exceptional items) |
3.0p |
3.6p |
|
Interim dividend per share |
1.425p |
1.425p |
|
Net debt |
£36.7m |
£29.4m |
Pat Barrett, Chairman of Devro, commented:
“Trading in the first half of 2007 has been mixed. Sales in the more mature markets such as the UK, US and Australia have been slow, but sales into the developing markets, in particular Russia and China, have grown significantly compared with prior year.
“We continue to have strong market positions in most areas of our business with the stability of a worldwide presence, and we are confident that we will maintain our position as a leading producer of high quality, high performance casings. This, together with the further potential improvements to the business which we have now identified and the operational changes we are initiating, gives the Directors confidence that the business performance will again strengthen.”
Enquiries:
|
Peter Page |
Chief Executive |
020 7404 5959 on 6 September 2007 |
|
John Neilson |
Finance Director |
01236 879191 thereafter |
|
Anita Scott / Mark Antelme |
Brunswick |
020 7404 5959 |