Charter plc - Trading update
29/11/2005
On 28 September 2005 Charter announced its interim results for the six months ended 30 June 2005. These showed adjusted operating profit up 72 per cent to £41.2 million, profit before tax up 176 per cent to £44.4 million and adjusted earnings per share up 73 per cent to 16.1 pence.
In the second half of the year, Esab, the welding and cutting business, has continued to perform strongly and Howden, the air and gas handling business, is benefiting both from increasing revenues and the continued strengthening of its order book. In addition, the expected effective tax rate for the year is now lower than the Board’s previous expectations as a consequence of improving performances in lower tax jurisdictions.
As a result the Board now expects profits and earnings for 2005 to be ahead of its previous expectations.
Contact
David Gawler, Chairman & Chief Executive, Robert Careless, Finance Director
+44 (0) 20 7404 5959
Andrew Fenwick; Pamela Small, Brunswick +44 (0) 20 7404 5959