Product category:
Transformers and Inductors
News Release from: Abacus Group
Edited by the Electronicstalk Editorial
Team on 31 May 2005
Challenging first half for Abacus
Abacus Group has announced its interim results for the six months ended 31st March 2005.
Abacus Group has announced its interim results for the six months ended 31st March 2005 Despite the fact that the economic climate and trading conditions were challenging in first half of year, Abacus core distribution business maintained UK market share
This article was originally published on Electronicstalk on 3 Sep 2008 at 8.00am (UK)
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Trident performed well in a growing market with bookings up 43% Abacus Group operating profit increased to GBP 4.2 million (2004: GBP 4.0 million) and gross margin increased to 24.2% (2004: 22.5%), but sales declined 5% to GBP 87.1 million (2004: GBP 91.4 million).
Group profit before tax and goodwill remained at GBP 4.0 million (2004: GBP 4.0 million) after goodwill unchanged at GBP 3.6 million, giving earnings per share of 5.4p (2004: 5.4p).
The board has recommended that the interim dividend be increased by 3% to 3.6p per share.
Commenting on the results, Harry Westropp, Chairman, said: "Abacus has operated in challenging economic and trading conditions in the first half of the year".
"However the company has maintained its UK market share and the management has anticipated this climate and reacted well".
"I am pleased that the Trident part of our business is performing so strongly and that there is good growth potential from its proprietary systems".
"Our strategy moving forward is to develop our existing activities and grow the business both organically and through acquisitions".
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