Business
Interim Results
Interim Results.
About this update from Mpac Group Plc
[{"type":"text","content":"\n RNS Number : 1547Y Molins PLC 28 August 2009 \n \n28 August 2009 FOR IMMEDIATE RELEASE\n\n2009 HALF-YEAR ANNOUNCEMENT\n\nMolins PLC, the international specialist engineering company, announces its results for the six months ended \n30 June 2009.\n\n\n\n\n\n\n\n\n\n6 months\nto 30 June\n2009\n\n\n\n\n\n\n6 months\nto 30 June\n2008\n(restated)#\n\n\n\n\n\n\n12 months\nto 31 Dec\n2008\n(restated)#\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\nCash generated from/(used in) operations before reorganisation - continuing operations\nNet funds/(debt)\n\n\n£42.2m\n£1.9m\n£0.6m\n£0.1m\n\n6.0p\n0.6p\n2.5p\n\n\n£3.6m\n£2.6m\n\n\n\n\n\n£45.2m\n£0.8m\n£2.1m\n£1.3m\n\n1.5p\n6.9p\n2.5p\n\n\n£(3.4)m\n£(14.4)m\n\n\n\n\n\n£91.5m\n£4.4m\n£8.8m\n£6.7m\n\n16.1p\n35.2p\n5.0p\n\n\n-\n£(0.4)m\n\n\n\n\n\n\n\n\n# Restated to reflect changes in accounting for tax in respect of the UK pension scheme\n* Continuing operations before net pension cost of £1.0m (30 June 2008: £1.7m credit; 31 December 2008: £3.4m credit) and exceptional charge of £0.2m (30 June 2008: £nil; 31 December 2008: £1.7m profit)\n\n\n\n\n\n\n\n\n\n\n\n\n\nIncrease in underlying earnings \n\n\n\n\n\n\n\n\n\n\n\n\nStrong cash flow resulting in net funds of £2.6m\n\n\n\n\n\n\n\n\n\n\n\n\nMaintained interim dividend of 2.5p\n\n\n\n\n\n\nDick Hunter, Chief Executive, commented:\n'Both the Tobacco Machinery and Scientific Services divisions have performed ahead of the Board's expectations in the period, although performance in the Packaging Machinery division was lower than expected. The Group has delivered an improved underlying trading result in the first half compared with last year, with the expectation that performance in the full year will be more evenly split between the two halves than has been the pattern over the last few years. Overall the Board's expectations remain in line with those&n...