4th Jun 2019 09:23
LONDON (Alliance News) - Shares in Haynes Publishing Group PLC rose on Tuesday as it said profit for 2019 financial year is expected to be above current market expectations and the year before.
Shares in the automobile repair manual publisher were 11% higher at 219.00 pence on Tuesday.
Haynes said that its strong trading performance in the first six months of its financial year had continued in the second half to date.
As a result, the board expects adjusted pretax profit for the year to the end of May to beat market expectations by around 10% and be 24% ahead of the year before.
Company-compiled consensus for adjusted pretax profit stands at GBP3.3 million, on revenue of GBP34.5 million. In the prior year, Haynes posted a profit of GBP2.9 million, on revenue of GBP33.8 million.
"I am delighted to report another strong year for Haynes with both revenue and underlying profit tracking ahead of market expectations and the prior year. Our continued investment in people and new technologies, that enhances our specialist content and data sets, is a key driver behind this strong performance," said Chair Eddie Bell.
Haynes Publishing will publish its annual results on September 12.
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