LONDON (ShareCast) - Engineering (Milan: ENG.MI - news) support services group Redhall posted a sharp rise in half-year pre-tax profit and
said current trading remains in line with expectations.
Profit before tax rose to £3.1m for the six months ended 31 March 2009 from £1.9m the year before. Revenue was up 56% at £64.8m.
The group's order book stands at £110m, up from £85m last year.
Chairman and chief executive David Jackson said, "Redhall has... produced strong organic growth, despite the challenging markets caused by the economic downturn. We believe we have built a stable and robust business which is well positioned to see increased benefits when conditions begin to improve."
Banking facilities for £18m have recently been put in place with Lloyds Banking Group (LSE: LLOY.L - news) for the next three years.
Redhall said it expects to see increased benefits as and when the economy turns.
An interim dividend of 1.65p per share has been offered, up from 1.5p last time.
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