21st Apr 2015 08:45
LONDON (Alliance News) - TF & JH Braime (Holdings) PLC on Tuesday said its pretax profit rose slightly in 2014 on the back of improved revenue, though it said its performance deteriorated in the second half to somewhat offset a good start to the year.
Braime, a metal presswork manufacturer and bulk material handling components distributor, said its pretax profit in the year rose slightly to GBP1.1 million from GBP1.0 million a year earlier, as revenue rose to GBP24.3 million from GBP23.0 million.
The company said a good performance in the first half of the year was offset by a weaker second half, driven by higher-than-expected operating costs in its manufacturing business and adverse currency translation due to the strength of sterling.
The company has approved a flat final dividend payment of 6.2 pence per share, meaning its total dividend for the year will be 9.1 pence compared to 8.6 pence a year earlier, pushed higher by the hike made to its interim dividend.
Braime said its sales revenue in the first quarter of 2015 was ahead year-on-year and added it hopes to have new manufacturing capacity coming online during the year. It does expect a further currency impact in the current year as a high proportion of group sales are made in overseas markets and sold in local currencies, but said it is taking actions to try to mitigate the issue.
Shares in Braime were untraded Tuesday, having last traded at 710.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Braime Holdings