MS International FY10 Pretax Profit Falls 32%, Declares 3.8P Dividend

LONDON (Dow Jones)--MS International PLC (MSI.LN), a manufacturer of specialty engineering products and the provision of related services, Tuesday reported a 32% fall in fiscal 2010 pretax profit and recommended a second interim dividend of 3.80 pence per share to be considered as the final payment for the year. MAIN FACTS: -Revenue for the year ended May 1 GBP41.0 million (2009: GBP51.6 million) -Pretax profit GBP3.3 million (2009: GBP4.9 million) -Diluted EPS 13.3 pence (2009: 19.5 pence) -Net cash and short term deposits GBP8.91 million (2009: GBP8.23 million). -Board recommends second interim dividend of 3.80 pence per share to be considered as the final payment for the year representing a maintained total dividend of 4.50 pence (2009: 4.50 pence) -Defense division accounted for 60% of revenue than last year and has orders on hand some 40% higher than at this time last year; growth primarily from strong export sales and manufacturing efficiencies, resulting from ongoing capital investment in the business. -Outlook for defense division looks promising. -Expects demand in the markets for forgings businesses to remain subdued in the short to medium term. -Shares on Monday closed at 118.5 pence, valuing the company at GBP22 million. -By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, tapan.panchal@dowjones.com (END) Dow Jones Newswires June 15, 2010 02:57 ET (06:57 GMT)