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CEPS PLC said on Friday it is ‘pleased’ with its interim results, as a rise in profit caused its share price to surge.
The Bath, England-based investment company focused on the industrial sector said pretax profit for the six months ended June 30 was £1.2 million, a 23% jump year-on-year from £977,000 a year before. Revenue went up by 5.6% to £15.9 million from £15.1 million.
CEPS shares were up 22% to 22.50 pence each in London on Friday morning. Just after the open, they hit an intraday peak of 30.00p
Sales for the group rose by 5.3% to £15.9 million from £15.1 million. Aford Awards, a sports trophy and promotional merchandising company, generated a revenue of £2.1 million, up 5.0% from £2.0 million. Revenue for Friedman’s, a converter and distributor of specialist lycra, was £3.46 million, slipping by 1.7% from £3.52 million. Hickton Group, a provider of services in the construction industry, increased its revenue by 8.3% to £10.4 million from £9.6 million.
The group said it ‘remains keen’ to restart the payment of dividends after ‘a very long period’ without.
CEPS said it was ‘pleased to see the progress for the first six months evidenced in these interim accounts during a period of relative trading normality, as compared to recent years’.
‘The macro position is uncertain but it appears to be improving. The CEPS group of companies has clear objectives and is set up to continue to improve its performance,’ the company said.
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