Norman Hay (AIM: HNN) results considered ‘extremely satisfactory’ despite a fall in pre-tax profit
The Industrial Equipment and Coatings specialist announced its preliminary results for the year ending December 2009.
The group, which produces coatings, sealants and relevant equipment for a variety of industries including automobiles, aerospace, tunnels, mining and oil and gas, delivered full year revenues of £26.2m (2008: £27m), pre-tax profit of £865,000 (2008: £2.4m) and eps of 6.4p.
As usual cash flow was excellent with operating profit of £931,000 resulting in an operating cash inflow of £1.8m. Year end net debt was a meagre £829,000 equating to net gearing of approx 7%.…
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