News blog
Ensor Holdings
- BY: Andrew Hore |
- POSTED: 27/05/2015 |
Security products and packaging supplier Ensor Holdings is selling its building and roofing products business and reviewing its strategic options.
This includes a potential takeover of the company. BDO is conducting the potential sale process. Anyone interested has to sign a non-disclosure agreement and submit a proposal. This will then trigger the next phase of the bid assessment process. Ensor could still remain independent.
Ensor subsidiaries manufacture industrial and commercial doors, as well as physical security products. Wood’s Packaging provides packaging to furniture retailers and generates cash for the group.
In the year to March 2014, building and security products generated revenues of £27.2m and an operating profit of £1.39m. There is no indication how much came from the building products businesses that are in the process of being sold. The packaging business reported an operating profit of £437,000 on revenues of £2.76m.
All of the divisions improved their performance at the interim stage. The interim dividend was increased from 0.5p a share to 0.6p a share. Net debt was £224,000 at the end of September 2014.
Full year results will be released on 10 June. Order books are growing.
The Ensor share price rose 8.5p to 82.5p.
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