Laird Reports Profit In 2017; Revenue Up 10% On Organic Constant Currency Basis

Laird PLC (LRD.L,LARD.L) reported profit before tax of 57.0 million pounds for the year ended 31 December 2017, improved from a loss of 122.3 million pounds, in 2016. Profit per share was 15.8 pence compared to a loss of 31.8 pence. Underlying profit before tax increased to 67.3 million pounds from 51.1 million pounds. Underlying profit before tax improved by 32% driven by revenue growth and operating margin improvement. Underlying earnings per share was 11.1 pence compared to 10.5 pence.

Fiscal 2017 revenue from continuing operations was 936.6 million pounds compared to 801.6 million pounds, previous year. Group revenue was up 17% on a reported basis and up 10% on an organic constant currency basis.

As a result of the recommended cash acquisition, there is currently no final dividend proposed. The total dividend for the year will therefore be equal to the interim dividend of 1.13 pence.

by RTT Staff Writer

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