27th Apr 2021 17:23
Braime Group PLC - Leeds-based manufacture of metal presswork and material handling components - Revenue for 2020 down 2% at GBP32.8 million from GBP33.4 million in 2019, while pretax profit drops to GBP1.2 million from GBP1.8 million. "The disproportionate reduction in the profit before tax was due in part to the strengthening in the value of sterling against the currencies in our principal markets but also due to the much higher costs of maintaining production and sales during the Covid pandemic," company explains. Braime lifts total dividend per share to 11.8 pence from 11.6p year before.
"We have still been able to continue to invest time and resources to improve our operations and develop new products, and this remains our long-term strategy. Although the intake of new orders remains patchy, overall, we can see a gradual increase in confidence and in the number of new projects generated by our customers worldwide," company adds.
Current stock price: 1,950.00 pence
Year-to-date change: up 37%
By Arvind Bhunjun; [email protected]
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