Samuel Heath Share Price (HSM)

says it all.......dead in the water

http://www.investegate.co.uk/heath-samuel----38--sons--hsm-/rns/interim-report/201311060700072238S/

PRELIMINARY RESULTS FOR THE YEAR ENDED 31ST MARCH 2011 CHAIRMAN'S STATEMENT I have pleasure in reporting an increased profit before tax for the year of £550,000 (2010: £336,000) on sales of £9,832,000, 3.2% up on last year's of £9,529,000. This is certainly a move in the right direction, despite far from easy trading conditions. During the year, amongst our expenditure, we updated our computer system, which we believe will give us long term benefits. This, plus the cost of financing the much increased price of brass, saw our total cash and financial assets reduce from £2,268,000 to £2,058,000. David Coplestone has decided that it is the right time for him to retire as a director at the Annual General Meeting in August. He has been involved with the Company for forty-three years, twenty-seven of them in a senior executive position. He became my Deputy Managing Director and his contribution to the firm is incalculable. I am sure that all shareholders will join me in thanking him and wishing him a long retirement. After the improvement in profits, it would be good to be able to give an upbeat forecast for the coming year. We are not able to do that. As we have budgeted, the year has started extremely slowly with uncertainty in practically all of our markets, most particularly in our biggest, the UK. If copper and zinc prices continue at least to stabilize, this could help, but there is very little else to cheer us. However our net assets remain strong amounting to £6,350,000 (2010: £6,037,000). We therefore propose a same again final dividend of 6.25p per share, making a total of 11.75p for the year.

http://www.investegate.co.uk/Article.aspx?id=201107070700069118J

Samuel Heath & Sons (HSM) posted a 64% jump in pre-tax profits for the full-year, despite difficult trading conditions, but warned of uncertainties in practically all of its markets going forward after starting the new financial year “extremely slowly.” The hardware and bathroom manufacturer reported a pre-tax profit of 0.42 million pounds for the year ended 31st March 2011 on revenue up 3.2% at 9.8 million pounds. Separately, the firm revealed that David Coplestone will retire as a director in August. Shares in Samuel Heath grew 5p to 397.5p