Lincat Group plc (“the Group”), the AIM listed manufacturer of commercial catering appliances and bar equipment, announces its preliminary results for the year to 1 January 2010.
Financial highlights:
* Pre-tax profit of £9.9m (2008: £5.3m), including profit of £5.1m on the sale of vacated manufacturing site * Profitable disposal of loss-making subsidiary, Mercury * Year-end net cash balance of £5.1m (2008: net debt of £3.0m) * Earnings per share of 157.8p (2008: 56.8p) * Revenues of £30.8m (2008: £32.9m) * Operating profit on continuing operations, excluding exceptional items, of £4.9m (2008: £5.7m) * Final dividend of 19.8p per share (2008: 18.8p), for a total dividend of 30.0p (2008: 29.0p) per share for the year.
Commenting on the year’s results, Alan Schroeder, Chairman, said:
“The twelve months to 1 January 2010 has been a challenging, busy and ultimately successful year for the Group. Given the tough trading conditions that prevailed throughout the year we can be reasonably satisfied with both our activities and our financial performance. The disposals of IMC’s redundant Hertfordshire site and of Mercury leave the Group in an exceptionally strong financial position.”
