Cost-cutting at Pillar gives lift to Caradon
Wednesday 14 September 1994
The improvement at the building products group came despite a slump in sales and profits at its US cheque printing operation, where prices have fallen sharply.
Cost-cutting at Pillar drove the profits rise, with margins at the newly-acquired businesses rising from 5 to 8.3 per cent.
Peter Jansen, chief executive, said the integration of Pillar had more than matched expectations. But he warned that UK building products businesses had not yet benefited from recovery.
Underlying profits, excluding a pounds 100m exceptional profit last year from the sale of Caradon's stake in the French printer Carnaud MetalBox, increased from pounds 56.4m to pounds 94.4m. Reported pre-tax profits including the sale fell from pounds 152.8m to pounds 90.8m.
Underlying earnings per share rose from 6.8p to 8.9p and the dividend was increased from 2.71p to 2.9p.
The shares, down from 448p since the beginning of the year, closed 11p higher at 298p.
Bottom Line, page 26
elephant appealThe first 23 lots have now gone. But there are 22 more still up for grabs
comedy'Fresh Meat' star sees off stiff competition from Alan Carr, David Mitchell, Graham Norton, Lee Mack and Sarah Millican to win top prize
Beatles rush out 'bootleg' album to defy EU copyright law
healthJames Bond's alcohol consumption puts him at 'high risk' of cirrhosis, tremors... and impotence
musicPolice chief rejects rappers' claims that his work is as dangerous as law enforcement or military service
tvSpoiler alert: Find out the result of a heated final show
Harvey Weinstein reveals his secret weapon on-set
Now that an oil trader's drinking has got him sacked, will we all have to make do with an afternoon latte?
Chiwetel Ejiofor and Idris Elba get nods for Best Actor, which no black Brit has ever won
Geoffrey Macnab reviews The Desolation of Smaug - the meat in Peter Jackson's Hobbit sandwich
peopleWhat advice would David Cameron give to his younger self?
Mystery of Epping Forest 'big cat' is solved
French café starts charging extra to rude customers
Scientist create 'robotic sperm' to help with fertilisation and drug delivery
Australia incest case: Severely deformed children found in remote farming community after generations of inbreeding
Fox News presenter tells viewers it is a 'fact' that both Jesus and Santa Claus are white
- 1 French café starts charging extra to rude customers
- 2 Sun will 'flip upside down' within weeks, says Nasa
- 3 Australia incest case: Severely deformed children found in remote farming community after generations of inbreeding
- 4 Physicists discover 'clearest evidence yet' that the Universe is a hologram
- 5 Fox News presenter tells viewers it is a 'fact' that both Jesus and Santa Claus are white
- < Previous
- Next >
iJobs Money & Business
£30000 - £45000 per annum + Bonus + Benefits: Harrington Starr: Regulatory Man...
£50000 - £75000 per annum + benefits + bonus: Harrington Starr: Pre-Sales / Cl...
£40000 - £60000 per annum + Bonus + Benefits: Harrington Starr: Regulatory Man...
£40000 per annum: Harrington Starr: Senior Network Engineer (CCNP, CCIE, Netwo...