3 March 2011 – final results

A solid set of figures has been unveiled, with earnings per share increasing by 40% to 3.20p (2009: 2.28p) to leave the shares trading on an undemanding multiple. The final dividend per share was 0.86p, resulting in a total for the year of 1.29p (2009: 1.29p), translating into a useful yield of over 4%. There was also pleasing news on the pension deficit, which fell to £9.7m (2009: £17.5m). Overall the results were pleasing and leaves the shares continuing to look ATTRACTIVE.