Business
2010 Preliminary Announcement
2010 Preliminary Announcement.
About this update from Mpac Group Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 0268C Molins PLC 01 March 2011 \n \n\n \n1 March 2011\n \n2010 PRELIMINARY ANNOUNCEMENT\n \nMolins PLC, the international specialist engineering company, announces its results for the year ended \n31 December 2010.\n\n\n\n\n\n\n\n \n2010\n \n\n\n\n\n\n \n2009\n \n\n\n\n\n\n\n\nSales\nUnderlying operating profit*\nProfit before tax - continuing operations\nProfit for the period\n \nUnderlying earnings per share§\nBasic earnings per share\nDividends per share\n \nNet cash from operating activities - continuing operations\nNet funds\n\n\n£86.4m\n£3.7m\n£4.1m\n£2.9m\n \n13.9p\n15.3p\n5.0p\n \n£9.2m\n£9.0m\n\n\n\n\n\n£83.8m\n£3.5m\n£2.1m\n£1.1m\n \n11.3p\n5.8p\n5.0p\n \n£8.0m\n£5.0m\n\n\n\n\n\n\n\n \n \n* Continuing operations before exceptional charge of £1.6m (2009: £0.4m)\n§ Continuing operations before exceptional charge of £1.2m (2009: £0.4m) and net financing income on pension scheme balances of £1.5m (2009: £0.6m expense), all figures after tax\n \n \n \n\n\n\n\n• Increase of 6% in underlying earnings\n\n\n\n\n• Strong cash flows, resulting in net funds of £9.0m\n\n\n\n\n• Significant improvement in the valuation of the UK pension scheme \n\n\n\n\n• Final dividend maintained at 2.5p per share \n\n\n\n\n• Satisfactory levels of prospective projects under discussion\n\n\n\n\n \n \nDick Hunter, Chief Executive, commented:\n\"Following a strong final quarter the Group improved its underlying operating profit and generated good cash flows. Performance in Packaging Machinery improved significantly in the year and Scientific Services continued to perform strongly. Performance in Tobacco Machinery was lower than in the previous year and we have acted to reduce its cost base. Although the economic environment remains uncertain and market conditions are challenging, we are cautiously optimistic about the future performance of the Group.\"\n \n \n \n\n\n\n\nEnquiries:\n\n\nMolins PLC\nDick Hunter, Chief Executive; David Cowen, Group Finance Director\n\n\nTel: +44 (0)1908 246870\n\n\n\n\nIssued by:\n\n\nCitigate Dewe Rogerson\nKate Lehane\n\n\nTel...