Acquisitions lift Sherwood despite lace problems
Wednesday 30 September 1992
Taxable profits at the Nottingham-based group rose to pounds 8.2m for the six months to 30 June from pounds 6.5m last time. Part of the growth came from the purchase of two sock makers, Samuel Eden and Charles Hall. But like-for- like sales in the garment division also increased by 16 per cent.
However, Sherwood's lace division - for which it is best known - held back the group's advance. Sales of lace fell 10 per cent and operating profits fell 14 per cent as demand for fancy goods declined worldwide. The company said lace sold in bulk suffered as customers forced prices down.
David Parker, chairman, said the group wanted to concentrate on the production of high-quality product.
He said that trading in the second half was strong. Sherwood has spent pounds 8m on new lace making machinery that Mr Parker said would give the company competitive advantages in lace production.
Earnings per share stood still at 5.3p because shares were issued to make the acquisitions. The dividend is lifted to 0.9p from 0.75p.
- 1 Malaysia Airlines MH17 crash: Pro-Russian rebel 'admits to shooting down plane'
- 2 Israel has discovered that it's no longer so easy to get away with murder in the age of social media
- 3 Israel-Gaza conflict: The myth of Hamas’s human shields
- 4 Amy Winehouse unpublished 2004 interview: ‘Ten years from now I’ll be 30, so I’ll maybe have one baby’
- 5 Dutch paedophile club to fight their ban at the European Court of Human Rights
Lana Del Rey: 'I have slept with a lot of guys in the industry'
Peaches Geldof cause of death: 'Heroin addict' socialite had taken fatal dose of drug, inquest concludes
Peaches Geldof inquest: Tragic final moments of socialite's life reveal she lied to husband about failed heroin tests
Israel-Gaza conflict: The myth of Hamas’s human shields
Malaysia Airlines MH17 crash: Was a Russian-made missile really parked in this quiet square?
Malaysia Airlines MH17 crash: Vladimir Putin is given 'one last chance' to end hostilities in Ukraine
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
The truth about conspiracy theories is that some require considering
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
Malaysia Airlines MH17 crash: victims’ bodies bundled in black bags and loaded onto trains
iJobs Money & Business
£350 - £400 per day: Orgtel: PMO Analyst - Banking - London - £350 -£400 per d...
£300 - £350 per day + competitive: Orgtel: Cost Reporting Manager - MI Packs -...
£35000 - £40000 Per Annum plus 23 days holiday and pension scheme: Clearwater ...
£475 - £525 per day: Orgtel: Test Lead, London, Investment Banking, Technical ...