Swimwear sales boost Pentland
Pentland's reported profits were devastated by a one-off pounds 40.4m charge relating to the disposal of its US consumer goods subsidiary Woods Industries, but before exceptional items profits in the year to December rose 28 per cent to pounds 36m (pounds 28.1m). The dividend rose 6 per cent to 3.5p.
The company also announced it had recruited Nicholas Webster from William Baird to become finance director, succeeding Frank Farrant, who indicated his intention to leave last year. Meanwhile, Tim Score, group financial controller at LucasVarity, will become finance director at William Baird.
Stephen Rubin, chairman, said the strong profits performance vindicated the company's decision, following a strategic review, to focus on its core sports, leisure and fashion markets. He said: "This is the activity on which we shall build Pentland's future prosperity." Pentland's shares closed 3p higher at 108p.
Sales at Speedo were boosted by the launch in March 1996 of Aquablade, a material Pentland described as "the fastest fabric through the water ever developed". The company said three of the four new world records at last summer's Olympics were achieved by swimmers wearing Aquablade.
- 1 Three-year-old ultra-Orthodox Jewish children told 'the non-Jews' are 'evil' in worksheet produced by London school
- 2 Moscow voted the world's unfriendliest city
- 3 The excuses your boss is most likely to believe when you call in sick
- 4 I'm pansexual – here are the five biggest misconceptions about my sexuality
- 5 More than 11,000 Icelanders offer to house Syrian refugees to help European crisis
The one chart that shows how George Osborne is almost certainly going to be our next Prime Minister
The excuses your boss is most likely to believe when you call in sick
Bono's group has made more money from Facebook investment than from all his music
Three-year-old ultra-Orthodox Jewish children told 'the non-Jews' are 'evil' in worksheet produced by London school
Wikipedia rocked by 'rogue editors' blackmail scam targeting small businesses and celebrities
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
Tony Blair attacks Jeremy Corbyn's 'Alice In Wonderland' politics
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
iJobs Money & Business
£14000 - £16000 per annum: Recruitment Genius: This company was established in...
£20000 - £25000 per annum + OTE 40k: SThree: SThree are a global FTSE 250 busi...
£20000 - £25000 per annum + competitive: SThree: SThree are a global FTSE 250 ...
£20000 - £25000 per annum: Recruitment Genius: We are a vibrant and establishe...