| CATEGORY: SMALL CAPS NEWS SECTOR: INDUSTRIAL ENGINEERING |
Maltese disposal lifts CH Bailey |
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Tue 20 Jul 2010
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LONDON (SHARECAST) - C H Bailey, the holding company with interests in the leisure and engineering sectors, saw profit before tax surge to £1.37m in the year to 31 March from £0.77m the year before, despite revenue tumbling to £3.90m from £5.37m.
However, the profit performance was boosted by a £2.0m profit on the sale of property in Malta. Losses before interest, tax, depreciation and amortisation narrowed to £0.04m from £0.28m the year before.
“With the modest growth being seen in Tanzania and Malta and signs of recovery in the UK engineering business, together with the reduction in overheads, I feel that we are beginning to see benefits from those initiatives that have been introduced across the group,” said company chairman Charles H. Bailey.
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