26 June 2012 – final results

The year to 31 March was challenging for the group and revenues declined to £26.6m (2011: £29.3m) with adjusted pre-tax profits falling as well to £4.3m (2011: £6.1m).  Earnings per share on the same basis were 17.7p (2011: 24.8p) and the dividend for the year was raised slightly to 10.15p (2011: 10.0p).  At the year end the group had a strong cash position of £3.1m and no debt.  Clearly the shipping industry is very competitive at the moment but ACM continues to make good progress in  implementing its global expansion strategy and the shares remain a LONG TERM BUY.