27th Mar 2014 14:37
LONDON (Alliance News) - Metal presswork business T.F. & J.H. Braime (Holdings) PLC reported an increase in profit and revenue for the full-year, reflecting a strong performance across the business.
The lessor of land and buildings to group companies posted pretax profit of GBP1.0 million for 2013 up from GBP678,221, as revenue rose 8.2% to GBP23.0 million from GBP21.2 million a year earlier.
It said the improvement in profit was against a comparative which included a one-off gain on the disposal of a property.
Braime said sales were up evenly across both its metal presswork and material handling divisions.
As a result the firm increased its final dividend of 6.20 pence up from 5.40 pence, making a total dividend of 8.60 pence from 7.80 pence a year earlier.
However, the firm said although its 2013 results were positive it was below its long term objective when viewed against the weakness of economics worldwide.
Looking ahead the firm said it has implemented some major projects and important investments which have strengthened the group.
The stock was trading at 645.00 pence Thursday afternoon, up 47.50 pence Thursday afternoon or 8.0%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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