Creightons sees continued progress

Creightons saw continued progress against a background of increasing competition in the first half with an operating profit, before exceptional items and tax, of £799,000 2015: £208,000).

The group posts a profit after tax of £671,000 for the six months to the end of September (2015: £1,050,000 including an exceptional item of £844,000 on the disposal of 'The Real Shaving Company' business which was completed on 28 May 2015).

The group has increased sales for the period through growth of the core business and by capitalising on the assets acquired from the administrators of Broad Oak Toiletries in February 2016.

This has been achieved by capturing the customer base of the previous Broad Oak Toiletries business and developing relationships with new customers, employing a team with the skill set required to meet these demands and focusing on driving efficiencies across the wider business.

Sales were £15,600,000 for the six months ended 30 September (2015: £10,752,000) an increase of 45.1% for the period including sales from the base continuing business of £11,480,000 (2015: £10,604,000, +8.3%).

Operating profit from continuing businesses was £483,000 (2015: £208,000), while operating profit generated from the acquired activities was £316,000. Consequently, consolidated operating profit for the period was £799,000 (2015: £208,000), which represents an increase of 284%. The increased sales together with the tight control on costs results in an operating profit margin of 5.1% (2015 from continuing operations: 2.0%).

At 3:17pm: (LON:CRL) Creightons PLC share price was +2.25p at 16p