18 March 2024 - Final results
The building materials group has announced its annual results for 2023 and these have come in much as expected following the trading statement issued in January. Revenues for the year declined by 7% to £671 due to reduced demand from house builders and adjusted pre-tax profits fell by 41% to £53.3m. Earnings per share on the same basis fell 47% to 16.7p. The total dividend for the year was reduced by the same amount to 8.3p. We tipped the shares at 215p in November but reduced our recommendation to . . .
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