Outlook10 Jun 2014 11:35
After a busy Spring, some of the steam seems to have gone out of the UK lift market, with some renewed reluctance to commit to significant projects. So although the second half has started reasonably positively, we are expecting a quieter period over the summer, albeit not as quiet as last year. The market for highways products is continuing to recover slowly and demand has also been bolstered by our new products.
Overseas, North America continues to be buoyant, although competition is fierce. In Australia, although the mining boom is over, there is still a backlog of planned infrastructure spending and development in Western Australia. In the east there is some uncertainty following the recent introduction of austerity measures by the Government. However we have continued to invest in expanding our range of escalator products and services to help offset any overall market stagnation.
DIVIDENDS
In line with the previously stated dividend strategy, the Directors have declared an increased interim dividend of 2.80p (2013: 2.34p) which amounts to £238,000 (2013: £199,000). The interim dividend is payable on 26 August 2014 and will be posted on 21 August 2014 to shareholders appearing in the Register on 11 July 2014 (ex-dividend date being 9 July 2014).
A final 2013 dividend of 5.66p which amounted to £482,000, compared with 4.68p (plus 5.00p special) the previous year (2013: £824,000) was approved at the AGM held on 4 February 2014 and was paid on 20 February 2014 to members on the register at 17 January 2014.
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