Good interview with the CEO, gives much more of an in-depth feel about the results - http://www.brrmedia.co.uk/event/107130/roger-harrison-chief-executive
5 Dec '12
Shares in building materials supplier Ensor Holdings jumped almost 25 per cent after the company doubled both its half year operating profit and earnings per share (EPS) and boosted the interim dividend by 45 per cent. Revenue for the period increased from £11.1m to £16.2m, while pre-tax profit came in at £1.1m, compared to £0.5m. EPS doubled to 2.8p year-on-year. The dividend was increased to 0.4p from 0.275p the previous year. In a statement the group said: "These very pleasing results include the first full contribution by Technocover which has continued to improve since the acquisition of the company in January this year. The results for our other established businesses have been in line with our expectations, holding up well during an economically flat period. "There are some signs of improvements in the economy as we start the second half of our financial year, but we are not relying on these signs and continue to work hard to maintain a 'tight ship'. "Group cash flows continue to be excellent with cash of £1.22m being generated from operations. During the half year we have financed a pension scheme enhanced transfer value exercise, paid dividends, repaid loans and furthered our capital expenditure plans whilst reducing our gearing to 28% (2011: 34%)."
3 Oct '12
Building materials supplier Ensor dropped on Wednesday after it cancelled the planned sale of its CMS Tools subsidiary. It had planned to sell the business to a management buyout team, but said the sale was no longer proceeding and the business would remain part of the group. It gave no further details on why the deal was not going ahead. Ensor announced the sale when it reported full year results in June. Then it said CMS Tools, which supplies tools to the roofing industry, had particularly suffered during the economic downturn and had been slow to emerge from recession. The anticipated disposal of CMS resulted in it being treated as a discontinued activity in the annual results, which led to the Ensor taking a £842,000 charge due to losses made on the sale. Ensor's shares were trading down 5.5% at 10:35 on Wednesday, following the announcement.
3 Oct '12
Update on Disposal In our preliminary announcement of results, made on 15 June 2012, we reported that we had agreed to sell CMS Tools, a subsidiary of the Company, to a management buyout team. The sale is no longer proceeding and the business will now remain part of the Ensor Group.
CONT We have been looking at a number of acquisition opportunities. It is our intention to ensure that any business that joins the Group will strengthen our position within our core activities. Although the second half of the year has started well, there are concerns about the political and economic turmoil in Europe. This region provides many trading opportunities for us and so we must therefore remain cautious with our outlook for the rest of the year. In my last statement, I spoke of our determination to return to being a dividend growth stock. I am therefore pleased to announce that the Board has proposed an interim dividend of 0.275p per share. This is an increase of 57% against last year (2010: 0.175p). It is our desire to continue an upward dividend trend but we will react responsibly to the continuing difficult economic conditions. The interim dividend will be payable on 27 January 2012 to shareholders registered on 30 December 2011. As always, our strength lies with our staff who I would like to thank for all their efforts. I would also like to thank all our shareholders for their continued support. K A Harrison TD Chairman
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