Business
Revised Interim Announcement
Revised Interim Announcement.
About this update from Alumasc Group Plc
[{"type":"text","content":"\n Alumasc Group PLC\n12 February 2007\n\n\nRevised release - re dividend payment date\n\nFurther to the Interim Announcement of Thursday 8 February 2007, the dividend\npayment date should read 10 April 2007 and not 5 April 2007.\n\nThe revised announcement follows.\n______________________________________________________________________\n\nThursday 8 February 2007\n\n\n THE ALUMASC GROUP PLC - INTERIM ANNOUNCEMENT\n\nAlumasc (ALU.L), the premium building and engineering products group, announces\na much improved first-half trading performance in respect of the half year to 31\nDecember 2006 compared with the half year to 31 December 2005, with increased\nrevenue and operating profit in both of the Group's divisions, Building Products\nand Engineering Products.\n\nFINANCIAL HIGHLIGHTS\n\n• Revenue increased by 26% to £75.1m from £59.4m.\n\n• Profit before tax on continuing operations increased by 34% to £3.6m\nfrom £2.7m on a like-for-like basis (excluding the £0.2m gain on a property\ndisposal last year).\n\n• Earnings per share on continuing operations increased by 18.6% to 7.0p\nfrom 5.9p (an increase of 34.6% excluding the prior year property disposal\ngain).\n\n• Interim dividend per share is increased by 3.3% to 3.1p from 3.0p,\npayable on 5 April 2007 to shareholders on the register at the close of business\non 9 March 2007.\n\n• Dividend cover increased to 2.3 times from 2.0 times.\n\nCOMMERCIAL HIGHLIGHTS\n\n• The main drivers of first-half profitable growth were:\n\n- increased customer demand for specialist construction products, namely GATIC\naccess covers and Slotdrain products;\n- focus on non-automotive diesel engine component supply at Alumasc Precision;\nand\n- a near trebling in worldwide zinc prices benefiting Brock Metal.\n\n• Alumasc's Building Products division increased revenue by 2.9% to\n£26.7m and grew operating profit by 2.4% to £2.6m, representing approximately\n36% of group revenue and 63% of group operating profit. Revenue and profit\ngrowth were constrained by a lower level of building refurbishment work,\nparticularly in the social housing sector, although there were good performances\nin Construction Products and in other niche businesses.\n\n• In Engineering Products, Precision Components grew first-half revenue\nfrom continuing operations by almost 30% to over £16.5m. Ope...