10th Jun 2015 08:07
LONDON (Alliance News) - Ensor Holdings PLC saw its shares rise Wednesday morning after it reported higher profits and revenue for its last financial year and said the current year has started well.
The holding company for a group of companies that produce products including high-speed motors, roofing slates, industrial doors to bubblewrap said its pretax profit was GBP3.3 million in the year to end-March, up from GBP1.5 million a year earlier, as revenue rose to GBP36.1 million, from GBP30.6 million.
It said the second half of the financial year had exceeded expectations, driven by its Technocover unit, which manufactures physical high security products for the utilities sector. It has particularly been working in the water industry, which has come to the end of a five-year investment programme, although still has a strong order book for the new water investment period.
Ensor raised its dividend for the last financial year to 1.9 pence, from 1.5p, after announcing a final dividend of 1.3p.
In late May, Ensor had said it was launching a strategic review of its options to drive shareholder value, including a sale of the company. It said Wednesday the process is at an early stage and further announcements will be made in due course.
"The current year has started well and I am cautiously optimistic about the year ahead," Chairman Kenneth Harrison said in a statement.
Ensor shares were up 9.0% at 97.00 pence early Wednesday, making it one of the best-performing stocks in the AIM All-Share index.
By Steve McGrath; [email protected]; @stevemcgrath1
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