22nd Sep 2015 08:38
LONDON (Alliance News) - Swallowfield PLC Tuesday said its profit multiplied in the first half of 2015, and it reinstated payment of dividends as a result, although revenue was hit by foreign exchange movements.
The personal care and beauty products supplier said its pretax profit in the six months ended June 30 jumped to GBP814,000 from GBP140,000 in the first half of 2014, as the prior year suffered from the cost of exceptional items.
However, revenue slipped slightly to GBP49.4 million from GBP50 million, which it said was due to the weak euro.
Swallowfield will pay a final dividend of 2.0 pence, having not paid one the year before.
"We remain confident that our clear strategy will deliver further profitability growth and shareholder value in the current financial year and beyond," Chairman Brendan Hynes said in a statement.
Shares in Swallowfield were trading up 9.6% at 120.00 pence Tuesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Swallowfield