Swallowfield reports solid results during a ‘tumultuous’ year
Swallowfield PLC has announced robust results for the financial year ended 30 June 2009. The contract manufacturer saw revenues increase by 10% to £49.13m, compared to £44.82m the previous year. Earnings per share also rose, up 4% to 9.6p. Operating profit, however, dipped marginally (1.3%) to £1.52, down from £1.54 in the year ended 30 June 2008.
Swallowfield PLC has announced robust results for the financial year ended 30 June 2009. The contract manufacturer saw revenues increase by 10% to £49.13m, compared to £44.82m the previous year. Earnings per share also rose, up 4% to 9.6p. Operating profit, however, dipped marginally (1.3%) to £1.52, down from £1.54 in the year ended 30 June 2008.
Swallowfield’s chief executive Ian Mackinnon attributed the company’s relative stability during a “tumultuous” 12 months to the “careful and sustained progress” made over the past three years.
The group says it expects to continue to improve revenues at a faster rate than the market in the coming year. It also plans to building a new manufacturing room in Wellington, Somerset, as well as investing in improving efficiency, environmental savings and cost reduction.