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Suffolk based Tex Holdings boosts sales and profits

Written by Tony Quested

Tuesday, 22 April 2008

Suffolk based industrial group, Tex Holdings plc, has boosted sales for the year to end-December to £36.9 million from £34.5m last time. Pre-tax profit has also been increased to £1.2m from £907k. Tex says business levels in the early months of 2008 are broadly in line with expectations, although a number of large contracts have been nudged back to the second half. The group order book stands at £10.5m, which is above the long-term average. The board has recommended a final dividend of 4p – the same as 2006, which would make a total of 7.5p – slightly higher than last year’s total of 7p. The engineering division and the plastic division each contributed to the increase in turnover. The boards and panels division had a more profitable year on reduced turnover following a cost-cutting exercise in the third quarter of 2006. Tex also announced that the IAS19 valuation of the Pension Fund had returned to a small surplus, compared to a deficit of £360k as at December 31, 2006. The surplus has not been recognised in the accounts. The share price nudged slightly northwards following the results. Set as favorite Bookmark Email This Hits: 250 Trackback(0) TrackBack URI for this entry Comments (0) Subscribe to this comment's feed Write comment This content has been locked. You can no longer post any comment.

 

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