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LONDON (Alliance News) - MS International PLC on Tuesday said it doubled its interim profit on "encouraging performances" from its three biggest divisions.
Shares in MS International were up 9.0% at 217.50 pence each in response.
For the 26 weeks to October 27, MS International's pretax profit doubled to GBP3.2 million from GBP1.6 million in the 26 weeks to October 28, 2017.
The company's revenue increased 9.0% in the same period to GBP37.7 million from GBP34.6 million a year ago.
The company declared an interim dividend of 1.75 pence, flat on the year before.
MS International - which designs and manufactures defence systems, forklift arms, steel forgings, petrol station superstructures and petrol station signs - said it was a period of "admirable progress".
The company's three largest divisions - Forgings, Petrol Station Superstructures and Petrol Station Branding - all saw a rise in revenue in the first half, while the Defence division recorded a slight decrease.
Executive Chairman Michael Bell said: "That determined approach to their respective markets is backed by the group's strategy of continued investment in each of the divisions to ensure they are at their most effective. Such investment remains a priority and the rewards of this approach are evident in our latest results.
"Despite that ongoing investment, our long-established policy and commitment to fostering and maintaining a robust balance sheet has been validated with further growth in net cash."
MS International's net cash at October 27 was GBP16.7 million, compared to GBP15.9 million at April 28, the company's financial year-end.
Bell added: "Notable and most encouraging performances were achieved by the Forgings, Petrol Station Superstructures and Petrol Station Branding divisions. However, our Defence division - as a constituent part of the depressed UK defence equipment industry - is contending with the consequences of a seriously subdued home market, aggravated by a persistent lack of any real clarity, as to future demand."
