23rd Sep 2013 08:20
LONDON (Alliance News) - Haynes Publishing PLC Monday reported lower profits and revenues for its last financial year as demand for its automotive manuals and domestic general book publishing titles fell, but said it feels confident about prospects after it decided to focus on its most profitable titles and and a digital strategy after a recent strategic review.
Revenues in the 12 months to end-May fell to GBP27.6 million, from GBP19.8 million and pretax profit fell to GBP3.6 million, from GBP4.7 million, although the company said this was slightly ahead of market expectations.
It declared a final dividend of 4 pence a share, bringing its total dividend for 2013 to 7.5 pence, down from 15.7 pence for the financial year to the end of May 2012.
Haynes said it was continuing to review acquisition opportunities having last week bought the US-based motorcycles manual and marine engines manual businesses Clymer and Intertec.
Haynes Publishing shares were down 1.6% at 190 pence early Monday.
By Steve McGrath; [email protected]; @SteveMcGrath1
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