Manders' strategy starts to pay off
Friday 24 March 1995
It has dumped the old low-margin paint business, where it was a minnow in a pond dominated by sharks, and now concentrates wholly on the more exciting inks operation.
With over £80m spent on expanding the business last year, the strategy is risky, but the results are starting to come through. Yesterday it reported underlying profits up 15 per cent to £11.8m in the year to December and revealed plans to raise turnover by £100m to £250m in the next two to three years.
With £13m still in the bank from a property sale, the company has a war chest of perhaps up to £60m for acquisitions. The target is Europe, particularly Germany, France and Spain, but deals can take 12 to 18 months to pull off, the chairman, Roy Amos, warns.
Last year's reported figures, which showed pre-tax profits more than doubled to £23.9m, were distorted by £12.2m property disposal profits and £2.67m rental income.
Forecast profits of £14m this year would put the shares, up 9p at 312p yesterday, on a prospective multiple of nearly 14. Worth holding while the strategy unfolds.
- 1 Scientists create transparent mouse complete with see-through organs
- 2 Pope Francis issues top 10 tips for happiness
- 3 Disney heiress Abigail disowns her share of family profits in West Bank company
- 4 Israel's propaganda machine is finally starting to misfire
- 5 Amazonian Indian tribe filmed making contact with Brazil village in rare video footage
Mystery of the Siberian holes at the end of the world 'solved': Scientists offer explanation
Pope Francis issues top 10 tips for happiness
Kenny Ireland dead: Benidorm actor dies aged 68
Justin Bieber posts Instagram photo of Orlando Bloom crying after Ibiza fight 'over Miranda Kerr'
Putin v Obama: Russian deputy prime minister mocks president with catty pictures on Twitter
The secret report that helps Israel hide facts
Land for gas: Merkel and Putin discussed secret deal could end Ukraine crisis
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
Richard Dawkins tweets: 'Date rape is bad, stranger rape is worse'
Putin is 'thuggish, dishonest and reckless', says British ambassador to US
Boozy, ignorant, intolerant, but very polite – Britain as others see us
- < Previous
- Next >
iJobs Money & Business
£300 - £350 per day: Orgtel: Financial Analyst, Forecasting, Halifax, Banking,...
£500 per day: Orgtel: Business Architect - Banking - Bristol - £500 per day A...
£200 - £500 per day + competitive: Orgtel: I am currently working on a large p...
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...