8 September 2015 – interim results
This specialist supplier of technical fluid power products has announced solid interim results for the six months to 30 June, with revenues up 24.6% to £21.4m (2014: £17.2m) and adjusted pre-tax profit increasing to £3.34m (2014: £1.32m). Earnings per share were 5.62p although no comparative was given for last year due to the different financial structure in place at the time. The interim dividend was increased by 5% to 1.75p. Net debt increased by 22% to £7.46m. The group continues to strengthen its market position and another year of solid progress is expected at the company. Continue to BUY.