Business
Interim Results
Interim Results.
About this update from European Metals Holdings Ltd
[{"type":"text","content":"\n European Motor Hldgs PLC\n18 October 2006\n\n\n EUROPEAN MOTOR HOLDINGS plc\n\n Interim results for the six months ended 31 August 2006\n and announcement of strategic review\n\nKey points:\n\n• Profit before tax £10.2 million, up 42% (2005, £7.2 million)\n\n• Earnings per share 12.9 pence, up 24% excluding exceptional items\n\n• Interim dividend increased by 15% to 4.6 pence per share\n\n• Net assets up to 174.3 pence per share compared to 168.5 pence per\n share at 28 February 2006\n\n• Return on sales in Motor Retail Division up to 3.1% from 2.9%\n\n• The Group's franchise partners continue to outperform the UK car market\n\n\nCommenting on these results, Chief Executive Richard Palmer said:\n\n\"Even in a difficult market, we have continued to make excellent progress. The\nfirst half contribution of the recently acquired SKF businesses was ahead of our\nexpectations and we look forward to a satisfactory full year outcome.\"\n\n\nEnquiries:\n\nRichard Palmer Chief Executive\n European Motor Holdings plc\nAnn Wilson Finance Director\n European Motor Holdings plc\nMorning: Biddick Associates 020 7448 1000\nAfternoon: European Motor Holdings plc 01491 413 399\n\n\n\n EUROPEAN MOTOR HOLDINGS plc\n Interim results for the six months ended 31 August 2006\n\n Chief Executive's statement\n\n\nWe are pleased to announce another excellent first half performance which is\nsummarised below.\n\n 2006 2005\n £'000 £'000\n\nProfit before taxation and exceptional items and excluding\nSmith Knight Fay (\"SKF\") which was acquired on 1 July 2005 8,718 8,512\n\n\nProfit/(loss) before taxation of SKF in period 2,265 (166)\n\nAdditional Group interest on SKF consideration (798) (239)\n -------- -------\n 10,185 8,107\n\nExceptional items - (952)\n -------- -------\nProfit before taxation 10,185 7,155\n -------- -------\n\nEarnings per share including exceptional items 12.9p 9.2p\n -------- -------\n\nEarnings per share excluding exceptional items 12.9p 10.4p\n -------- -------\n\nDividend per share 4.6p 4.0p\n -------- -------\n\nTurnover has increased by 27% to £428 million and profit before tax has\nincreased by 42% over the comparative period last year. Excluding last year's\nexceptional losses, profit before tax increased by 26% to £10.2 million and\nearnings per share by 24% to 12.9 pence. Our gearing ratio at 31 August ...