Business
Preliminary Announcement
Preliminary Announcement.
About this update from Alumasc Group Plc
[{"type":"text","content":"\n RNS Number : 0955D Alumasc Group PLC 10 September 2008 \n \nWednesday 10 September 2008\n\nTHE ALUMASC GROUP PLC - PRELIMINARY ANNOUNCEMENT\n\n\"STRONG TRADING RESULTS\"\n\nAlumasc (ALU.L), the UK-based supplier of premium building and precision engineering products, announces a year of significant progress for the Group in terms of both strategic development and financial performance, with an improved quality of earnings.\n\nFinancial Highlights\n\n\n\nRevenue from continuing operations increased by 21% to £125.8m, of which 17% was attributable to the full year benefit of the acquisition of Levolux on 1 May 2007 and of Blackdown on 31 March 2008\n\n\n\n\nUnderlying† operating profit from continuing operations improved by £3.7m, or 49%, to £11.2m, with operating margins increasing from 7.3% to 8.9%\n\n\n\n\nUnderlying† pre-tax profit from continuing operations increased by 52% to £9.6m. Underlying† earnings per share from continuing operations increased by 51% to 18.3p\n\n\n\n\nReported pre-tax profit increased by 12% to £10.0m. Reported earnings per share increased by 15% to 20.3p. The 2007 profit included an exceptional contribution from Brock Metal, which was sold on 29 June 2007\n\n\n\n\nFull year dividends per share are raised by 3.1% to 10.0p\n\n\n\n\nNet debt at 30 June 2008 reduced by 28% to £9.4m\n\n\n\n† underlying excludes property disposal gains and non-recurring restructuring and other \ncosts\n\nCommercial Highlights\n\n\n\nTwo-thirds of group revenue and over 85% of group operating profit is now generated by the Building Products division. Well over half of Building Products' divisional revenue is derived from sustainable building products\n\n\n\n\nBuilding Products revenue increased by 40% to £83.5m (of which 11% was organic growth), whilst underlying operating profit improved by 54% to £10.7m (of which 17% was organic growth)\n\n\n\n\nRevenue from sustainable energy management products almost trebled to £35.5m and related operating profit more than quadrupled to £4.8m. Levolux, the UK leader in solar shading systems, had an excellent first full year in the group, whilst Blackdown, the green roof supplier, made a good start at Alumasc and contributed immediately to group earnings\n\n\n\n\nRevenue from sustainable&nb...