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Annual Results

Acal revenues jump

01 June 2016 07:41

Acal - a leading international supplier of customised electronics to industry - posts reported pre-tax profits of GBP9.4m for the year to the end of March, 119% up on last time.

Underlying earnings per share rose by 23% at constant exchange rates to 17.0p and the full year dividend of 8.05p per share is up 6%.

Revenues rose by 14% at constant currencies to GBP287.7m and underlying operating margins increased to 5.7% from 4.9%.

Group chief executive Nick Jefferies said: "This is a strong set of results with underlying operating profit increasing by 36% on sales growth of 14% at constant exchange rates. Underlying operating margins have almost doubled over the last two years. Over 50% of ongoing revenue is now from our higher margin Design & Manufacturing division, which is generating almost 80% of Group profits.

"Whilst challenging trading conditions are likely to continue in the first half of the year, we expect an improvement in the second half in line with our expectations for the full year. We have £20m of funding available for acquisitions and will continue to take advantage of opportunities that will enhance growth and shareholder value.

"We are building a highly differentiated, international electronics business, supplying essential technologies to growth markets, and are confident of making further progress in the year ahead."

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