2nd Mar 2015 08:12
LONDON (Alliance News) - Senior PLC Monday reported a fall in pretax profit in 2014 despite a rise in revenue, dragged back by the strength of sterling against the euro and the dollar over the year.
The manufacturing and engineering company said its pretax profit for the year was GBP80.6 million, down from GBP83.8 million in 2013, although profit would have risen 2% if exchange rates had remained the same.
Revenue rose to GBP820.8 million, from GBP775.1 million in 2013, but operating profit fell to GBP89.6 million from GBP93.3 million due to acquisition costs and a weaker operating margin of 13.6% against 13.9% a year earlier.
But the company hiked its final dividend to 3.96 pence from 3.6 pence last year, despite the lower profit, bringing its total dividend for the year up to 5.63 pence per share against 5.12 pence in 2013.
Still, shares in Senior opened down 3.9% to 327.1879 pence on Monday, the worst performer in the FTSE 250.
By Sam Unsted; [email protected]; @SamUAtAlliance
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