The Alumasc Group plc Approves Interim Dividend, Payable on April 07, 2017; Reports Unaudited Consolidated Earnings for the Six Months Ended 31 December 2016
January 31, 2017 at 02:00 am EST
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The directors of The Alumasc Group plc approved an interim dividend per share of 2.85 pence as compared to 2.7 pence for the same period last year, will be paid on April 07, 2017 to shareholders on the register at the close of business on February 24, 2017. The cash cost of the dividend is expected to be £1.0 million. In accordance with IFRS accounting requirements, as the dividend was approved after the balance sheet date, it has not been accrued in the interim consolidated financial statements.
The company reported unaudited consolidated earnings for the six months ended 31 December 2016. For the period, the company reported revenue of £50,743,000 against £43,468,000 a year ago. Operating profit was £4,008,000 against £3,715,000 a year ago. Profit before taxation was £3,605,000 against £3,242,000 a year ago. Profit for the period from continuing operations was £2,901,000 or 8.0 pence per diluted share against £2,579,000 or 7.4 pence per diluted share a year ago. Net profit attributable to equity holders of the parent was £2,901,000 or 7.4 pence per diluted share against £2,711,000 or 6.5 pence per diluted share a year ago. Underlying earnings per share from continuing operations was 9.1 pence per diluted share against 8.9 pence per diluted share a year ago. Net cash outflow from operating activities was £1,652,000 against net cash inflow from operating activities of £2,120,000 a year ago. Purchase of property, plant and equipment was £476,000 against £520,000 a year ago. Payments to acquire intangible fixed assets were £11,000 against £160,000 a year ago. Underlying profit before tax was £4.1 million against £4.0 million a year ago.
The Alumasc Group plc is a United Kingdom-based sustainable building products, systems and solutions company. The Company's segments include Water Management, Building Envelope and Housebuilding Products. Water Management segment manufactures sustainable rainwater goods, drainage products and gas and airtight inspection covers (known as Gatic). Under the Alumasc Water Management Solutions (AWMS) banner, customers benefit from rainwater and drainage products that capture, retain and control the flow of rainwater inside and outside buildings from origination source to water course, sewer or ground. Building Envelope segment supplies a range of roofing products and also provides technical advice, service and environmental credentials. Housebuilding Products segment manufactures products for housebuilding made from recycled and recyclable materials. Its brands include Alumasc, Alumasc Skyline, Alumasc Rainwater, Harmer, Wade, Gatic, Roof-Pro, Alumasc Roofing, Blackdown and Timloc.
The Alumasc Group plc Approves Interim Dividend, Payable on April 07, 2017; Reports Unaudited Consolidated Earnings for the Six Months Ended 31 December 2016