July 13 (Reuters) – British specialist materials group Low & Bonar Plc (LWB.L) posted a 31 percent rise in adjusted first-half pretax profit, helped by growth in transport and leisure sectors, and kept an upbeat full-year trading outlook.
The company, which supplies yarn, fabric and fibre to end-markets like civil engineering, transport, sport and leisure, said it would pay an interim dividend of 0.5 pence.
“The much improved sales pattern established throughout the second quarter, has continued into the start of the second half,” Chief Executive Steve Good said in a statement.
In June, the company had forecast full-year trading ahead of its own expectations.
Analysts on average expect Low & Bonar to post a full-year pretax profit of 18 million pounds ($27.1 million) on revenue of 329.4 million pounds, according to Thomson Reuters I/B/E/S.
For the six months to end-May, the company reported a pretax profit of 6.7 million pounds before amortisation and one-time items, compared with 5.1 million pounds a year ago.
Revenue rose 11.7 percent to 155.8 million pounds.
Low & Bonar lowered its net debt by almost 32 percent to 67.4 million pounds at the end of the period.
Shares of the company closed at 43 pence on Monday on the London Stock Exchange. ($1=.6655 Pound) (Reporting by Aditi Samajpati in Bangalore; Editing by Roshni Menon)