Astley Whittall, chairman, said current gearing of 49 per cent was high enough. But he added: 'We have undertaken a substantial capital expenditure programme in recent years and plan to continue.'
The company announced pre-tax profits for 1992 of pounds 12m, an increase of 8 per cent. Automotive components held trading profits at pounds 7.1m. The group supplies 8 per cent of car mirrors worldwide and makes 6 per cent of all European rear light clusters. It also recently won contracts from Audi and BMW.
The consumer and safety products division was hit by lower demand in the UK, although a German subsidiary, which provided the bulk of a pounds 7.1m profit, had a record year.
Motor dealing recovered from a difficult 1991, increasing profits from pounds 2.5m to pounds 4.1m.
Earnings per share were 3.46p, compared with 3.32p. A final dividend of 2.5p makes a maintained total of 3.2p.Reuse content