Business
Final Results for the year to 31 December 2016
Final Results for the year to 31 December 2016.
About this update from Mpac Group Plc
[{"type":"text","content":"\n \nRNS Number : 2848Y Molins PLC 02 March 2017 \n\n \n2 March 2017 \nAIM: MLIN\nMolins PLC\n(\"Molins\", \"the Company\" or \"the Group\")\n \nGlobal packaging solutions group\nFinal Results for the year to 31 December 2016\nKey Points\n \n· Increase in order intake of 20% and significantly higher order book at start of 2017\n \n· Sales of £80.1m (2015: £87.0m) \n \n· Underlying profit before tax of £0.9m (2015: £3.8m)\n \n· Statutory loss before tax of £0.8m (2015: £2.0m profit from continuing operations)\n \n· Underlying earnings per share of 3.7p (2015: 15.1p)\n \n· Basic loss per share of 3.3p (2015: 20.9p)\n \n· Operating cash inflow of £6.2m (2015: £3.6m), leading to net cash balance of £0.8m (2015: £3.2m net debt)\n \n· Decision taken not to pay a final dividend; monies to be invested to support growth \n \nCommenting on the performance and outlook, Tony Steels, Chief Executive, said:\n \n\"Although trading was not strong in 2016, emanating from a low order book as the Company entered the 2016 year and the impact of delayed customer investment decisions during most of the year, actions were taken resulting in a number of positive highlights which create a platform for improved performance. Order intake improved in the 4th quarter and increased by 20% overall compared with the previous year, leading to a significantly higher order book as we entered 2017. Operating cash fl...