Frank Knight, chairman, said he believed prices were now close to the top after a 35-37 per cent increases for board and other materials over the past year. "I think the next couple of months will see the turn," he said yesterday.
Pre-tax profits rose from pounds 8.95m to pounds 15.4m in the 52 weeks to 2 April, although the increase reduces to 12.5 per cent on a pro forma basis after taking account of the proceeds of the stock market flotation two years ago. Earnings per share rose to 20.2p from a pro forma 17.9p, out of which a final dividend of 5.2p increases last year's total by 9 per cent to 7.7p.
Field has raised its UK sales by 153 per cent since 1988, against a growth of around 120 per cent in the underlying market. It announced the acquisition of Pharma Graphic, a Belgian specialist leaflet manufacturer, for up to pounds 5.2m.