12th Dec 2023 10:20
(Alliance News) - MS International PLC shares jumped on Tuesday after it said profit rose in its latest six months, and raised its interim dividend.
The stock rose 9.3% to 940.00 pence each that morning in London.
The Doncaster, Yorkshire-based defence equipment manufacturer said pretax profit for the half year that ended on October 31 "increased substantially", more than doubling to GBP7.7 million from GBP3.5 million the year before.
Revenue increased 36% to GBP57.0 million from GBP42.0 million.
MS International declared an interim dividend of 3 pence per share, up from 2p the prior year.
Chair Michael Bell also noted that MS International delivered a "significant contract" on its VSHORAD counter-drone system, which had "negatively impacted" the previous year's results due to the customer's delay in taking delivery.
Going forward, Bell said: "We believe that we have continued to enhance the performance of the group's businesses and with considerable confidence, we look forward to delivering further progress across the group."
By Emma Curzon, Alliance News reporter
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