Product category:
Plugs and Sockets
News Release from: Abacus Group
Edited by the Electronicstalk Editorial
Team on 19 May 2003
Abacus produces above-average returns
Abacus Group has published interim results for the six months ended 31th March 2003.
Abacus Group has published interim results for the six months ended 31th March 2003 Financial highlights include: profit before tax and goodwill of GBP 4.2 million (2002 GBP 4.8 million); sales of GBP 73.2 million (2002 GBP 79.4 million); gross margin remains robust at 24%; overheads reduced by 6% to GBP 13 million (2002 GBP 13.8 million); operating cash generation of GBP 3.8 million; earnings per share before goodwill at 6.7p (2002 8.1p); and interim dividend up 6% to 3.4p
Commenting on the results, Harry Westropp, Chairman, said: "We shall continue to focus on giving shareholders a return well above the average for our industry and will seek to develop the group in associated areas where we feel the growth prospects are favourable".
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