21st Dec 2023 15:30
Dewhurst Group PLC - London-based supplier of components to the lift, transport and keypad industries - Pretax profit grows 13% to GBP8.1 million in the financial year ended September 30, from GBP7.2 million a year prior. Revenue edges up to GBP58.0 million from GBP57.6 million. Notes volatile environment due to high levels of inflation and interest rates. Proposes final dividend of 0.75 pence per share, up 50% from 0.5p a year prior. This brings the total dividend to 15.75p, up 6.8% from 14.75p in financial 2022. Looking ahead, Chair Richard Dewhurst says: "Group sales have started the year slightly up on last year and in line with our expectations. Lift product demand in all regions currently seems to be holding up reasonably well. On keypads it appears our major customer has completed its de-stocking program and current demand seems a little more stable than the volatile demand last year. Highways and transport products should continue their steady improvement." He added that the company's "strong" balance sheet allowed it to continue to explore other opportunities to deploy its cash resources. Read More
