News

Havelock profits jump 24%

08 April 2008 08:40:00

Interior fitter Havelock Europa saw profits for the year jump 24% and said order intake for the new year is higher than last time.

Pre-tax profit for the year to December rose 24% to £6.7m on revenue that increased 9% to £125m. Total dividends per share increased 13% to 4.5p per share.

In the first quarter of 2008, order intake was £36.4m compared with £25.6m last year. Revenues are in line with expectation but slightly lower than the first quarter of 2007, reflecting the completion dates of some larger contracts

"Notwithstanding the more uncertain outlook in the UK economy, 2008 started with strong order books in place in both Retail and Educational Interiors, with a higher than normal percentage of 2008 sales already visible," it said.

The group said Retail Interiors finished the year strongly, with revenue up by 14% to £54.0m as a result of strong performances with House of Fraser, Marks and Spencer, Primark, HBOS and Boots.

Point of Sale Display revenues rose marginally £27.6m from £27.4m in 2006.

"Havelock remains on track for a further year of progress although, as usual, it is expected that a great majority of its profits will be earned in the second half," said the group.

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