Ensor boosts dividend as operating profit doubles

Shares in building materials supplier Ensor Holdings jumped almost 25 per cent after the company doubled both its half year operating profit and earnings per share (EPS) and boosted the interim dividend by 45 per cent.

Shares in building materials supplier Ensor Holdings jumped almost 25 per cent after the company doubled both its half year operating profit and earnings per share (EPS) and boosted the interim dividend by 45 per cent.

Revenue for the period increased from £11.1m to £16.2m, while pre-tax profit came in at £1.1m, compared to £0.5m. EPS doubled to 2.8p year-on-year.

The dividend was increased to 0.4p from 0.275p the previous year.

In a statement the group said: "These very pleasing results include the first full contribution by Technocover which has continued to improve since the acquisition of the company in January this year. The results for our other established businesses have been in line with our expectations, holding up well during an economically flat period.

"There are some signs of improvements in the economy as we start the second half of our financial year, but we are not relying on these signs and continue to work hard to maintain a 'tight ship'.

"Group cash flows continue to be excellent with cash of £1.22m being generated from operations. During the half year we have financed a pension scheme enhanced transfer value exercise, paid dividends, repaid loans and furthered our capital expenditure plans whilst reducing our gearing to 28% (2011: 34%)."

The share price rose 24.64% to 43p by 14:31.

NR

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Oil producers are back at their Covid-19 lows – is it time to buy?
Oil

Oil producers are back at their Covid-19 lows – is it time to buy?

With demand for oil hammered by Covid-19 and talk of “peak oil demand”, there are lots of good reasons to be bearish on oil producers. So, asks John S…
22 Sep 2020
Why you should stuff your end-of-pandemic portfolio with Chinese stocks
China stockmarkets

Why you should stuff your end-of-pandemic portfolio with Chinese stocks

For an end-of-pandemic portfolio, you need assets that can cope with today’s volatility. And that, says Merryn Somerset Webb, means Chinese stocks.
14 Sep 2020
IAG's share price is ready for take-off - here's how to play it
Trading

IAG's share price is ready for take-off - here's how to play it

The owner of British Airways has had a turbulent year, but is now worth a punt. Matthew Partridge explains the best way to play it.
8 Sep 2020