Hi, we've made some changes

Restructuring charges hit Enodis

Related Companies

Related Indices

Related Sectors

News for Spread Betters

PreviousPrevious
NextNext

There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

Get full details about Marketmaker:Investor Edition here. Advertisement

Date: Tuesday 13 May 2008

LONDON (ShareCast) - Bid target Enodis saw interim profits reduced as a result of restructuring charges, but the food equipment maker said it is on track to meet expectations for the full year.

Pre-tax profit in the six months to 29 March 2008 fell 16% to £22.2m from £26.3m in the corresponding period of the previous year, after taking a £5.5m hit for exceptional items, including restructuring costs of £5m.

Revenue grew 8% to £394.6m from £365.4m, with like-for-like food equipment revenue up 7%.

All segments contributed to revenue growth, despite strong comparative figures, especially in the US.

Like-for-like food equipment margins improved to 10% from 9.7% in the first half of the previous financial year.

“Overall, our expectations for the year remain unchanged from our interim management statement dated 7th February 2008 and repeated in our pre-close trading update of 27th March 2008,” the company said.

Digital Look have been voted
"Best Research and Information Provider"

4th Floor, Bankside House, 107 Leadenhall Street, London EC3A 4AF.
Registered in England and Wales (registered no. 3678570).