Somic PLC - Interim Results
November 20 1997 - 9:02AM
UK Regulatory
RNS No 7011a
SOMIC PLC
20th November 1997
INTERIM STATEMENT
The six months to 30th September 1997 has seen a further increase in Group
turnover to #2,613,060. This increase in turnover together with close control
of costs has led to an improved profit before taxation of #175,136 (1996
#115,297).
Your directors have decided to pay an interim dividend of 1.375p per share -
an increase of ten per cent. compared with the interim payment in the previous
year. The dividend will be paid on 9th February 1998 to those shareholders on
the register on 12th December 1997.
All areas of your Group's activities have experienced reasonable levels of
demand and recent investments, particularly in plant and machinery, are
proving beneficial.
Your Group's subsidiary, Mason Fabrics, is undergoing a substantial change to
its business and is on line to produce a significant increase in sales
turnover, as principal, during the remainder of this financial year.
Your directors look forward to the next six months with a degree of optimism
and expect the recent improvements to continue.
R. Blackburn
Chairman
20th November 1997
Alliance Works
Preston
Lancs PR1 5PS
INTERIM REPORT
(unaudited for half-year ended 30th September 1997)
Half-year Half-year Year ended Year ended
ended ended March 1997 March 1997
September September Including Excluding
1997 1996 Exceptional Exceptional
Items Items
# # # #
Group Turnover 2,613,060 2,374,676 4,797,991 4,797,991
_________ _________ _________ __________
Trading Profit (Loss) 145,366 83,481 (507,035) 122,218
Income from rents 29,770 31,816 68,859 68,859
_________ _________ _________ __________
Group Profit before 175,136 115,297 (438,176) 191,077
taxation
Taxation 52,292 38,048 (104,826) 51,814
_________ _________ _________ __________
Group Profit after 122,844 77,249 (333,350) 139,263
taxation
Ordinary Dividend 29,150 25,000 62,100 62,100
_________ _________ _________ __________
Retained Profit 93,694 52,249 (395,450) 77,163
_________ _________ _________ __________
Earnings per Ordinary 5.79p 3.86p (16.65)p
Share
Net Dividends per 1.375p 1.25p 3.00p
Ordinary Share
The year ended March 1997 figures include exceptional items totalling
#(629,253) as follows:
Change in depreciation policy - #(581,092)
Closure costs of subsidiary - #( 48,161)
Copies of this interim report are being sent to shareholders and are available
from Somic plc, P.O. Box 8, Alliance Works, Off New Hall Lane, Preston, PR1
5PS
END
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