AUTOLOGIC HOLDINGS PLC
("AUTOLOGIC" OR "THE GROUP")
6th April 2006
Preliminary Results for the Year Ended 31 December 2005
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Highlights
- Turnover from continuing operations decreased by £2.2 million (0.9%) to £244.8 million (2004: £247.0 million).
- Operating profit for continuing operations (before exceptional items and excluding other operating income) increased by £1.4 million (15.6%) to £10.4 million (2004: £9.0 million).
- On a statutory basis, continuing operating profit decreased to £10.7 million (2004: £16.5 million).
- Basic earnings per share from continuing operations were 4.10 pence (2004: 38.84 pence).
- Good performance from UK operations with new contract gains.
- Sale of loss-making Walon France agreed subject to shareholder approval. Losses now shown as discontinued operations.
- Group refinancing agreed providing a £65.5 million Revolving Credit/Mezzanine facility.
- Disappointing performance from CAT. Contract negotiations commenced with Renault.
- Board changes proposed.
- No final dividend is proposed.
John Merry, Chairman, commented:
“2005 was a year of mixed fortunes with our UK operations performing well but France continuing to incur significant losses. Subsequent to the year end we have agreed to sell Walon France, subject to shareholder approval.”
For further information please contact:
John Merry |
Tel: 020 7420 0555 |
| Russell Brown Group Finance Director AutoLogic Holdings plc |
Tel: 020 7420 0555 |
Press: Stephen Davies/Nicholas Potter College Hill |
|
Investors: Neville Harris IR Focus |
Tel: 0207 378 7057 |
Click here to download the Report and Accounts in PDF format (521 Kb)