Date: Monday 03 Dec 2012
AIM-listed tube manufacturer Tricorn surged on Monday following the release of its interim results, in which it reported a decent increase in the half-year dividend.
The company, which operates in three main segments - Energy & Utilities, Transportation and Aerospace - is to pay shareholder 0.1p per share in respect of its first-half performance, up 43% on the 0.7p a share paid out last year.
Revenue in the six months to the end of September fell from £12.42m to £11.55m as a result of "softening markets" in the second quarter.
Nevertheless, improvements in operating profit margins across all three businesses helped group pre-tax profit grow from £0.72m to £0.85m.
Tricorn said that its plan to establish a manufacturing facility in China is "on track" and shipments of first products are expected later this month.
Chairman Nick Paul said: "We have delivered a strong set of half year results demonstrating continued improvements in operating margins, strong cash generation has led to a considerably strengthened balance sheet and we have made encouraging progress in establishing our manufacturing facility in China. This, alongside the pipeline of opportunities for new business positions us well for further growth.."
While Paul admitted that, in the shorter term, the softening in markets seen is likely to continue into the second half, investors didn't seem too bothered, with shares up 6.47% at 18.10p by 15:40.
Evocutis, the skincare products testing group, managed to double revenues in the year to July 31st.
Turnover from commercial deals jumped from £0.22m to £0.46m, helped by collaboration and consultancy agreements with consumer healthcare companies.
The large increase in revenue was mainly as a result of the full-year trading revenues from Leeds Skin Centre for Applied Research which was acquired in May 2011.
The adjusted operating loss narrowed to £0.91m, from £1.09m previously. The loss per share reduced from 0.90p to 0.88p.
"These results show that the integration of Syntopix and Leeds Skin into Evocutis has led to significant growth in collaborations with major multi-national companies. Our collaborators are seeking the skill base at the core of Evocutis that enables them to strengthen their brands by providing scientific data that supports product claims," said interim Chief Executive Officer Gwyn Humphreys.
"Evocutis aims to grow these relationships over the coming twelve months, and to increase the availability of LabSkin™ for those companies who wish to carry out research in-house rather than by contract relationships with Evocutis."
The company, which operates in three main segments - Energy & Utilities, Transportation and Aerospace - is to pay shareholder 0.1p per share in respect of its first-half performance, up 43% on the 0.7p a share paid out last year.
Revenue in the six months to the end of September fell from £12.42m to £11.55m as a result of "softening markets" in the second quarter.
Nevertheless, improvements in operating profit margins across all three businesses helped group pre-tax profit grow from £0.72m to £0.85m.
Tricorn said that its plan to establish a manufacturing facility in China is "on track" and shipments of first products are expected later this month.
Chairman Nick Paul said: "We have delivered a strong set of half year results demonstrating continued improvements in operating margins, strong cash generation has led to a considerably strengthened balance sheet and we have made encouraging progress in establishing our manufacturing facility in China. This, alongside the pipeline of opportunities for new business positions us well for further growth.."
While Paul admitted that, in the shorter term, the softening in markets seen is likely to continue into the second half, investors didn't seem too bothered, with shares up 6.47% at 18.10p by 15:40.
Evocutis, the skincare products testing group, managed to double revenues in the year to July 31st.
Turnover from commercial deals jumped from £0.22m to £0.46m, helped by collaboration and consultancy agreements with consumer healthcare companies.
The large increase in revenue was mainly as a result of the full-year trading revenues from Leeds Skin Centre for Applied Research which was acquired in May 2011.
The adjusted operating loss narrowed to £0.91m, from £1.09m previously. The loss per share reduced from 0.90p to 0.88p.
"These results show that the integration of Syntopix and Leeds Skin into Evocutis has led to significant growth in collaborations with major multi-national companies. Our collaborators are seeking the skill base at the core of Evocutis that enables them to strengthen their brands by providing scientific data that supports product claims," said interim Chief Executive Officer Gwyn Humphreys.
"Evocutis aims to grow these relationships over the coming twelve months, and to increase the availability of LabSkin™ for those companies who wish to carry out research in-house rather than by contract relationships with Evocutis."
Source: Digitallook
1 comment:
Woooww was reminded of when I was there
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