Business
Interim Results
Interim Results.
About this update from Ms International Plc
[{"type":"text","content":"\n RNS Number : 0037J MS International PLC 27 November 2008 \n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nMS INTERNATIONAL plc\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nUnaudited Interim Condensed\n\n\n\n\n\n\n\n\n\nConsolidated Financial Statements\n\n\n\n\n\n\n\n\n\n1st November, 2008\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\nMS INTERNATIONAL plc\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nEXECUTIVE DIRECTORS\n\n\n\n\nMichael Bell\n\n\n\n\nMichael O'Connell\n\n\n\n\nDavid Pyle\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNON EXECUTIVE\n\n\n\n\nRoger Lane-Smith\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSECRETARY\n\n\n\n\nDavid Pyle\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nREGISTERED OFFICE\n\n\n\n\nBalby Carr Bank\n\n\n\n\nDoncaster\n\n\n\n\nDN4 8DH\n\n\n\n\nEngland\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nPRINCIPAL OPERATING DIVISIONS\n\n\n\n\nDefence\n\n\n\n\nForgings\n\n\n\n\nPetrol Station Superstructures\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \nChairman's Statement\n\nThe world changed in September and brought about an unprecedented and rapid downturn in the global business climate. As events unfolded we monitored our markets especially closely and, where needed, responded swiftly to any changing circumstances. We will continue to monitor the situation very closely, until we can see how markets are evolving with greater clarity.\n \nI am pleased therefore, to report that notwithstanding the difficult macro economic environment, we continued to make good progress for the half year ended 1st November 2008. Profit before taxation increased by 11% to £2.45m (2007 - £2.21m) on revenue of £27.23m (2007 - £25.55m). Earnings per share were 9.3p (2007 - 9.2p).\n\nThe balance sheet remains strong with net cash and short term deposits at a healthy £5.11m as we utilised some of the advanced payments that were a constituent part of the £10.07m of cash reported at last year end. \n\nThe Defence Division lifted production output significantly against the comparable period in order to meet the requirements of our national and international long term order book for naval gun systems. The upgraded and reorganise...