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Second Interim Results to 30 June 2007
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| Lincat Group plc | | | 20 September 2007 | | | Lincat Group plc (the Group), the AIM listed manufacturer of commercial catering appliances, bar equipment and domestic range cookers, announces its second interim results for the twelve month period to 30 June 2007. | | | Summary of the Group’s performance and activities during the twelve month period: | | - Headline operating profit £5.149m on £32.6m of sales, up 9% and 5% respectively on 2006
- Headline basic EPS* up 12% to 52.2p
- Second interim dividend of 9.8p per share announced
- Net cash of £4.6m at period end
- IMC move to upgraded Wrexham factory completed in December 2006
- Successful £13m tender offer after period end reduced shares in issue from 7.2m to 5.3m
- Transfer to AIM on 20 August 2007
- Accounting reference date changed to 31 December with effect from this year.
| | | *Headline basic EPS is calculated from earnings before the exceptional costs of IMC’s factory move. | | | Commenting on the year’s results, Martin Craddock, Chairman, said: | | | 'Lincat Group is now in a strong position, after healthy trading performances from our two largest subsidiaries, Lincat and IMC and progress on the sale of the former IMC site in Hertfordshire. Our tender offer was successfully completed in July and will result in higher earnings per share on a like-for-like basis over the coming years.' | | | Click here to download 'June 2007 Second Interim Results.pdf' |
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