11 November 2013 – final results
The agriculture, food and engineering group has announced its final results for the year to 31 August and these have shown revenue up 15.8% at £468.1m whilst pre-tax profit was 21.5% higher at £15.9m. Adjusted earnings per share rose 26.8% to 128.7p and the dividend for the year was increased to 32p from 29p. These were record profits with all divisions exceeding budgets. Net debt at the group has increased to £22.1m (2012: £2.5m) due to significant capital expenditure of £19.1m and trading in the new financial year has been encouraging. Nevertheless, the share price has risen strongly in recent weeks and we would now advise taking profits. TAKE PROFITS.