FINANCIAL HIGHLIGHTS
2023 Full year announcement
Nicholas Braime, Chairman said:
"We are delighted that the Group has had another excellent year given the economic climate"
Year ended 31st December 2023 | 2023 £'000 | 2022 £'000 |
Revenue | 48,155 | 44,879 |
Changes in inventories of finished goods and work in progress | (426) | 2,925 |
Raw materials and consumables used | (25,188) | (26,456) |
Employee benefits costs | (11,009) | (10,260) |
Depreciation and amortisation expense | (1,678) | (1,535) |
Other (expenses)/operating income | (6,106) | (5,104) |
Exceptional item | - | (350) |
Profit from operations | 3,748 | 4,099 |
Finance expense | (485) | (282) |
Finance income | 72 | 5 |
Profit before tax | 3,335 | 3,822 |
Tax expense | (999) | (1,101) |
Profit for the year | 2,336 | 2,721 |
Profit attributable to: | ||
Owners of the parent | 2,274 | 2,768 |
Non-controlling interests | 62 | (47) |
2,336 | 2,721 | |
Basic and diluted earnings per share | 162.22p | 188.96p |
Group Financial Highlights
Total dividend 14.75p (2022: 13.75p)
- Group revenue of £48.2 million (2022: £44.9 million)
- Pre-tax profits at £3.33 million (2022: £3.82 million)
- Earnings before interest, tax, depreciation, amortisation and exceptional costs (EBITDA) at £5.4 million (2022: £6.0 million)
- Basic and diluted earnings per share at 162.22p (2022: 188.96p)
- Cash balances increased to £2.2 million (2022: £0.8 million)
- Bank borrowings of £2.9 million (2022: £2.3 million)
- The board is recommending a second interim dividend of 9.50p per share (2022: 9.00p) to the holders of Ordinary and 'A' Ordinary shares
Operating Highlights
2023 Interim announcement
Nicholas Braime, Chairman said:
"The different parts of the Group have performed quite differently, with the Asian regions relatively subdued, but with the USA, our key market, remaining particularly buoyant."
For the six months ended 30th June 2023 | Unaudited 6 months to 30th June 2023 £'000 | Unaudited 6 months to 30th June 2022 £'000 |
Revenue | 24,706 | 21,308 |
Changes in inventories of finished goods and work in progress | (49) | 841 |
Raw materials and consumables used | (12,650) | (12,099) |
Employee benefits costs | (5,398) | (4,859) |
Depreciation expense | (828) | (738) |
Other (expenses)/operating income | (3,467) | (2,368) |
Exceptional item | - | (350) |
Profit from operations | 2,314 | 1,735 |
Finance costs | (199) | (127) |
Finance income | - | - |
Profit before tax | 2,115 | 1,608 |
Tax expense | (605) | (477) |
Profit for the period | 1,510 | 1,131 |
Profit attributable to: | ||
Owners of the parent | 1,478 | 1,123 |
Non-controlling interests | 32 | 8 |
1,510 | 1,131 | |
Basic and diluted earnings per share | 104.86p | 78.54p |
Group Financial Highlights
- Dividend is increased from 4.75p to 5.25p per share for both Ordinary and 'A' Ordinary Shares
- Group revenue at £24.7 million (2022: £21.3 million)
- Earnings before interest, tax, depreciation and amortisation (EBITDA including exceptional item) at £3.1 million (2022: £2.5 million)
- Basic and diluted earnings per share at 104.86p (2022: 78.54p)
- Net cash at 30th June 2023 £886,000 positive (2022: £201,000 overdrawn)