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IN BRIEF: Braime lifts dividend as profit jumps in first half

5th Sep 2022 15:27

Braime Group PLC - metal presswork manufacturer - In the first half of 2022, revenue rises 17% year-on-year to GBP21.3 million from GBP18.2 million, as pretax profit surges 81% to GBP1.6 million from GBP885,000. This includes GBP186,000 profit from the disposal of a property in Lamotte Warfusee as part of the 4B warehouse relocation in France. The period benefited from the pound weakening against the dollar, with a "significant" proportion of its income earned in the US, the firm says. Interim dividend increases to 4.75 pence from 4.25p. Warns of headwinds to come from a likely fall in consumer demand, potential currency fluctuations, and the higher energy and freight costs that will hit cashflow. "The unknown is not a question of if these negative factors will affect us, but of when, and the degree," the firm says.

Current stock price: 1,900.00 pence

12-month change: down 16%

By Elizabeth Winter; [email protected]

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