Financial Highlights
Revenue growth of 0.6% at £49.4m (2014: adjusted £49.1m). Revenues were 2.6% higher than prior year on a constant currency basis.
Operating profit increased by 30% in the period to £1.00m (2014: adjusted £0.77m).
Profit before tax and exceptional items increased by 62% to £0.81m (2014: adjusted £0.50m).
Earnings per share increased by 69% to 6.6p (2014: adjusted 3.9p).
Net debt position of £5.4m (2014: £5.1m), after the outflow of £1.2m on the acquisition of 'The Real Shaving Company' brand.
Re-instatement of dividend with a proposed final dividend of 2.0p per share (2014: Nil).
Operational Highlights
Continued growth of 'drive' product lines improving both margin and competitive advantage.
Acquisition and successful integration of 'The Real Shaving Company' brand, which has also developed new sales channels for other Swallowfield owned brand lines.
First production of innovative new plastic aerosol technology. This innovation represents a world first in its product category and format.
Cost optimisation project completed as planned at our Bideford site.
First shipments of premium beauty brand 'Bagsy'.
Premium male haircare brand 'MR.' to be launched with a national retailer in October.
Secured two significant contracts with major global brand owners that will contribute to further growth in fiscal 2016 and beyond.
Brendan Hynes, Non-Executive Chairman commented:
"I am delighted to report that we have delivered a significant increase in profitability and are reinstating a proposed final dividend.
We are also pleased with progress made to date on a number of significant milestones for the business, including new product launches, innovative new 'owned' brands and the acquisition of 'The Real Shaving Company' brand, all of which will positively contribute in the new financial year.
We remain confident that our clear strategy will deliver further profitability growth and shareholder value in the current financial year and beyond."
