29th Apr 2019 11:22
LONDON (Alliance News) - TF & JH Braime Holdings PLC on Monday named 2018 as a "record" year, as both revenue and profit saw double-digit growth.
The company is engaged in manufacturing metal presswork and handling the distribution of bulk material handling components.
It reported a pretax profit of GBP2.2 million in 2018, up 41% from GBP1.6 million in 2017, as revenue increased by 14% to GBP35.7 million from GBP31.5 million.
The company highlighted that, "unusually", all of its divisions enjoyed a "successful" year and this, alongside favourable exchange rates and the strength of the US market, delivered what the company named a "record" result.
Braime upped its second interim dividend to 8.00 pence from 7.10p paid the year prior, taking the total payout for the year to 11.50p, up 13% from 10.20p paid in 2017.
"2018 was a record year; however we are cautious about the possible effects of the current deteriorating economic situation in general, and specifically so in our particular markets," said Chair Nicholas Braime.
The company also proposed to simplify its name to Braime Group PLC.
The stock was untraded on Monday, last closing at 2,200.00p per share.