10 January 2009
Sales were strong, up 8 on the previous year, although the final quarter did show a decline of 4.7 against Qtr4 07 which could well be the start of a slow-down in sales for Qtr1 09 given the economical uncertainty.
There were significant cost pressures during the year with raw materials rising sharply. Net Income was adversely affected as costs were absorbed rather than passed on in difficult markets. The year ended -57 after provisions and other costs. Gross margins dropped during the year.
EBIT was posted at 4.7, Working Capital ended as 12.6 of revenues and Total Equity increased by +47. Current Ratio of 1.15 was acceptable in the circumstances.
