Low & Bonar continues to focus on geographic expansion

21 Jul '08

1 min read

Low & Bonar PLC the international technical textiles and contract flooring manufacturer, announces its interim results for the six months ended 31 May 2008.

Highlights Include:
- Total revenue up 50% to £213.4m (2007: £142.1m)
- Operating profit margin increase of 1.6% to 8.1%
- Profit before tax up 62% to £12.0m (2007: £7.4m)
- Earnings per share increased by 59% to 5.43p (2007: 3.41p)
- Interim dividend increased by 10% to 1.925p (2007: 1.75p)

Mehler Texnologies (MTX) has performed ahead of expectations in the period

Continued emphasis on product innovation and geographic expansion, including the previously announced joint venture in Abu Dhabi

Commenting on the Group's outlook, Duncan Clegg, Low & Bonar's Chairman, said:
“Whilst we monitor the macroeconomic environment closely, we continue to see significant opportunities to expand our business and improve margins.

Our focus will remain on growing the business, both organically and through prudent acquisitions, when suitable opportunities present themselves.

The breadth and geographic diversity of our customers and operations have assisted our performance in the first half and we are confident that these factors will continue to maintain the Group's progress during the second half and beyond.”

Low & Bonar PLC

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