22nd Sep 2014 08:58
LONDON (Alliance News) - Smoke and carbon monoxide detector maker Sprue Aegis PLC Monday said it would pay a maiden interim dividend after its profits rose strongly, driven by strong growth in Germany and France.
In a statement, the company said it would pay an interim dividend of 2 pence a share, and it's on track to deliver record results for the full year that are in line with market expectations.
It reported a pretax profit of GBP2.1 million for the six months to end-June, up from GBP1.7 million a year earlier, as revenue rose to GBP23.8 million, from GBP21.4 million.
It said it had outperformed its expectations in Germany and France, although that was partially offset by a slower sales performance in UK retail markets caused by customer inventory reduction initiatives and reduced level of CO awareness campaigns and promotions generally. Sales to the UK trade were up 19% on the year, and this unit is set to benefit from the imminent launch of a brand new range of products designed specifically for the UK trade sector, it added.
"Our order book is at record levels extending out to 2015, helped in particular by strong demand for our smoke alarm products in France ahead of the introduction of new legislation in March 2015 which requires all domestic properties in France to fit at least one working smoke alarm," it said.
Sprue Aegis shares were up 2.4% at 282.00 pence Monday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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