Business Weekly - Cambridge, UK

The engineering group said that it has seen a 290 per cent increase in pre-tax profits for the year to December 2006, leaping to £907k from £312k for the previous year. Revenue for the period was also up, showing a £2.8m increase to £34.5m for the full year.

The group's order book is currently at £10.2m, and business levels for the early months of 2007 have progressed in line with expectations, the firm said. It also noted an “encouraging” level of enquiries.

A final dividend of 4p was declared by the firm, bringing the total to 7p, up from 4p for last time.

News of the results saw Tex's share price jump over three per cent, or 3.5p to 114.5p.