Profile
News
Investor Relations
Other Information/Links
LATEST NEWS: |
Posted 08/09/06 00:00
Norish plc announces pre-tax profits of £0.3m for the six months ended 30 June 2006. This compares with pre-tax profits of £0.9m (after net exceptional gains of £0.7m) for the same period last year. Turnover from continuing operations increased by £0.7m to £5.2m. The adjusted earnings per share increased to 2.2p compared to 1.7p for the same period last year.
We started the year with high occupancy levels which have subsequently reduced across the business.
The Bury St Edmunds site did not perform as well as expected due to the loss of storage product from the closure of a customer’s factory. We are confident that we will replace this lost business in the second half of the year.
Our ambient food storage business experienced full occupancy for the first 6 months resulting in the use of third party warehouses to help cope with the additional volumes. This is likely to continue well into the second half of the year.
The group generated cash of £0.5m in the first half of the year to reduce the net debt of the company to £6.7m.