Product category:
Transformers and Inductors
News Release from: Abacus Group
Edited by the Electronicstalk Editorial
Team on 01 December 2006
Abacus adds up turnover and profit rises
Abacus Group has published its preliminary results for the year ended 30th September 2006.
Abacus Group has published its preliminary results for the year ended 30th September 2006 Financial highlights include 44% increase in turnover to GBP 257 million (2005: GBP 179 million), and 48% increase in gross profit to GBP 64.7 million before exceptionals (59% increase to GBP 63.9 million after exceptionals)
This article was originally published on Electronicstalk on 16 Jan 2002 at 8.00am (UK)
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Gross margin at 25.2% increased from 24.4%, before exceptionals (24.9% compared with 22.5% in 2005, after exceptionals) - reflecting Axess and Deltron acquisitions.
Profit before tax, amortisation and exceptionals increased 47% to GBP 11.9 million (2005: GBP 8.1 million).
Commenting on the results, Chairman, Harry Westropp, said: "The group now has a broader operations base, a wider mix of product and a greater depth of management".
"The geographical spread has also changed radically during the past year".
"In 2007 the Abacus Group sales will no longer be dominated by the UK with nearly half the business being overseas".
"All these factors considerably enhance the opportunities for us going forward as well as delivering a more cost effective and higher margin business".
"In these circumstances the board has confidence for the future".
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