News Story

Preliminary Results 2000/01

Solid progress as sales and profits move ahead

• Adjusted earnings per share increased by 25% to 16.2p (13.0p)*
• Group turnover up 15% at £1,399.1m (£1,217.7m)
• Group operating margins rose to 6.1% from 5.6% *
• Total dividends increased by 3.5% to 8.8p per share (8.5p)
• Strong balance sheet with interest cover of 6.8 times, gearing of 38%
• Increased profits in all business segments
• Progress through sales development, performance improvements and rationalisation

* before exceptional items and amortisation of goodwill and other intangibles

Commenting on the full year results and the outlook Chairman Antony Hichens said:

"We are pleased to report another year of solid progress with profits increasing in all our business segments. We have benefitted from the measures taken to develop sales in our key markets, reduce our cost base and improve our efficiency.

"Trading prospects for this year will be affected by the deteriorating European economy and the weakness of the euro. Nevertheless all divisions except St Regis Paper are expected to improve their performance this year. All operations will benefit from the ongoing programme of market development, cost reduction and performance improvement. Overall the Group will make progress this year, albeit at a slower pace than in the past year."

Click on a document title below for further information:

• Preliminary Results Statement 28th June

 
Enquiries:

David S.Smith (Holdings) PLC	020 7932 5000
Peter Williams, Group Chief Executive David Buttfield, Finance Director Paul Froud, Investor Relations

Financial Dynamics	020 7831 3113
Richard Mountain

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