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MS International PLC noted a strong and growing order book amid Russia’s ongoing war in Ukraine.
The Doncaster, Yorkshire-based defence equipment manufacturer said pretax profit surged to £15.7 million in the financial year ended April 30, from £5.1 million a year prior.
Revenue jumped 31% to £109.6 million from £84.0 million. Cost of sales increased 25% to £75.7 million from £60.6 million.
Administrative costs increased 10% to £16.2 million from £14.7 million.
MS International recommended a final dividend of 16.5 pence per share, up from 13p a year prior. This brings the total payout to 19.5p, up 30% from 15p.
The company said: ‘Looking forward, the outlook for the petrol station forecourt industry in the UK looks promising. In eastern Europe much depends on what happens in reaction to the ongoing war in Ukraine.’
Executive Chair Michael Bell said: ‘We live in an increasingly dangerous world and governments are escalating defence budgets as a consequence. With this background and a strong and growing order book, we look forward with a good degree of confidence to a commendable outcome for the current year.’
MS International shares rose 5.0% to 1,076.50 pence each on Wednesday morning in London.
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