Business
2011 Half-year Announcement
2011 Half-year Announcement.
About this update from Mpac Group Plc
[{"type":"text","content":"\n \nRNS Number : 9961M Molins PLC 25 August 2011 \n \n\n \n\n\n\n\n25 August 2011\n\n\n \n\n\n \n\n\n \n\n\nFOR IMMEDIATE RELEASE\n\n\n\n\n \n2011 HALF-YEAR ANNOUNCEMENT\n \nMolins PLC, the international specialist engineering company, announces its results for the six months ended \n30 June 2011.\n\n\n\n\n\n\n\n \n \n6 months\nto 30 June\n2011\n\n\n\n\n\n \n \n6 months\nto 30 June\n2010\n \n\n\n\n\n\n \n \n12 months\nto 31 Dec\n2010\n\n\n\n\nSales\nUnderlying operating profit*\nProfit before tax \nProfit for the period\n \nUnderlying earnings per share§\nBasic earnings per share\nDividends per share\n \nNet funds\n\n\n£38.8m\n£1.7m\n£3.8m\n£2.4m\n \n6.3p\n12.8p\n2.5p\n \n£6.3m\n\n\n\n\n\n£40.3m\n£0.8m\n£1.7m\n£1.1m\n \n2.5p\n5.7p\n2.5p\n \n£3.9m\n\n\n\n\n\n£86.4m\n£3.7m\n£4.1m\n£2.9m\n \n13.9p\n15.3p\n5.0p\n \n£9.0m\n\n\n\n\n \n* Before exceptional charge of £0.3m (30 June 2010: £0.1m; 31 December 2010: £1.6m)\n§ Before exceptional charge of £0.3m (30 June 2010: £0.1m; 31 December 2010: £1.2m) and net financing income on pension scheme balances of £1.5m (30 June 2010: £0.7m; 31 December 2010: £1.5m), all figures after tax\n \n \nDick Hunter, Chief Executive, commented:\n\"As expected,order intake in the first half of the year was significantly higher than last year. Although the phasing of deliveries resulted in slightly lower sales, underlying profits improved through a combination of favourable product mix, strong activity levels and cost reductions.\n \n\"Order prospects for the second half remain in line with plans set at the beginning of the year, although the Board is mindful of the continuing uncertain economic conditions. With performance in the first half of the year being slightly stronger than planned, the Board expects that the Group will show progress in the year.\"\n \n \n\n\n\n\nEnquiries:\n\n\nMolins PLC\nDick Hunter, Chief Executive\nDavid Cowen, Group Finance Director\n \nCollins Stewart Europe Limited \nMatt Goode\n\n\nTel: +44(0)1908 246 870\n \n \n \nTel: +44(0)20 7523 8350\n \n \n\n\n\n\nIssued by:\n\n\nCitigate Dewe Rogerson\nAngharad Couch\n\n\nTel: +44(0)20 7638 9571\n\n\n\n\n \n \nINTERIM M...