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Jourdan

  • BY: Andrew Hore |
  • POSTED: 16/09/2008 |

Jourdan reported higher profits but they benefited from one-offs.

Revenues increased from £18.8m to £21m in the year to June 2008. Profits improved from £1.58m to £2.25m however, a large chunk of that profit came from the sale of a property in Arundel and a £410,000 surplus on settlement of pension liabilities. Underlying profits fell from £1.38m to £1.2m. This also excludes the loss on the discontinued Suncrest Surrounds business of £1.35m, which was up from £242,000 the previous year.

Jourdan still has £1.5m of assets on the balance sheet that it intends to sell. It also has a pension liability of £2.07m.

The dividend is unchanged at 8p a share.

The medical packaging business improved its performance but the Corby trouser press and fabric labels businesses made lower contributions.

The Jourdan share price rose 10p to 240p, which values the company at £8.16m. 

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