Bespak, the specialist consumable plastic products maker, reported a 38 per cent decline in pre-tax profits from pounds 11.5m to pounds 7.1m in the face of what it says has been a major destocking by its customers at home and abroad. Sales of valves to its largest customer in the UK were down by 6 per cent on the year. US sales fell 14 per cent in dollar terms and caused a 75 per cent drop in operating profits despite a cost-cutting exercise involving 50 jobs. Overall group turnover rose to pounds 64.9m (pounds 61.6m). Earnings per share dropped to 19p (31.9p). However, a 6p final dividend lifted the total payout to 10.2p (10p).
Dudley Jenkins, supplier of direct mail services, posted higher pre-tax profits of pounds 903,000 (pounds 779,000). Group turnover increased 19 per cent to pounds 12.6m (pounds 10.65m). Earnings per share improved to 5.01p (4.53p). Final dividend is 2.205p, making 3.255p (3.1p).
Northamber, supplier of computer products, increased sales from pounds 103m to pounds 114.5m and turned around from pounds 973,000 taxable loss to pounds 669,000 pre-tax profit. Earnings per share were 3.1p (loss 3.9p). Total dividend is 0.8p (0.6p).
Waterhouse Group, the office interiors fitter, deepened taxable losses from pounds 51,000 to pounds 201,000 in the six months to 31 March. Turnover stayed ahead at pounds 1.2m (pounds 1.1m). Loss per share worsened to 8p (2p). No dividend.
David Smith, the packaging and office products group, has bought Ashton Corrugated from Otor, a French packaging group, for pounds 15.5m in cash.
Transport Development Group has sold Unilink Contract Hire, its vehicle and trailers leasing subsidiary, to Ryder for pounds 11.5m in cash.Reuse content