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September 16, 1997updated 01 Sep 2016 4:48pm

ROXBORO BOUNCES BACK WITH STRONG FIRST HALF

By CBR Staff Writer

The Roxboro Group Plc, which sells specialist components, sensors and instrumentation to the telecoms, aerospace and datacoms markets, has seen strong first half trading which helped to lift the company out of the mess of profits warnings it encountered at the end of 1996. Interim results for the six months to June 30 show operating profits up 28% to 7.8m pounds on the preceding six months. Chairman Peter Smitham said that trading conditions in the electrical components market had now normalized following heavy de-stocking by customers towards the end of last year. Net profits were, however, down 9% to 4.9m pounds on year ago figures due to 500,000 pounds of losses on disposal of the company’s Harlow-based BLP Components operation (the telecommunications relay arm) to Siemens AG. Revenues rose 3.8% to 57.2m pounds and the company was highly cash generative in the period, allowing the company to further reduce its borrowings. The sensors division outperformed all others in the period with sales up 20% to 18.5m pounds and operating profits of 3.2m pounds. Shares were up 13 pence to 199.5 pence on Tuesday and the interim dividend was up 9% at 2.4 pence.

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