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Creightons ups dividend and reports healthy trading
2nd Sep 2020 09:00
(Sharecast News) - Creightons increased its final dividend by 25% as the health and beauty product company said recent trading was ahead of the year before.
Operating profit for the year to the end of March rose 29.4% to £3.8m as revenue rose 8.6% to £47.8m. Creightons proposed a final dividend of 0.5p per share, up from 0.4p a year earlier, in line with cash flow and earnings.
The maker of Frizz No More Shampoo and Argan body moisturiser reported its results almost four months late in line with leeway granted by regulators during the Covid-19 crisis.
Creightons said the Covid-19 pandemic had increased its costs but that it had sold more of products in demand during the crisis such as its Pure Touch hand sanitisers and washes and an antiviral hand cream.
"Trading to the 31 July 2020 is ahead of last year, which has enabled the group to absorb the increased costs and risks associated with the pandemic," Creightons said. Creightons shares rose 0.9% to 55p at 09:30 BST.
In the year to the end of March sales of retailer own-label products rose 29.8% as store groups moved away from big brands. Creighton's own-brand sales rose 18.3% and contract sales dropped 20.3% as a customer took production in house.
Organic sales rose 6% last year with extra growth supplied by the acquisition of Balance Active Formula in June 2019. Creightons said Covid-19 delayed £400,000 of sales.
Operating profit for the year to the end of March rose 29.4% to £3.8m as revenue rose 8.6% to £47.8m. Creightons proposed a final dividend of 0.5p per share, up from 0.4p a year earlier, in line with cash flow and earnings.
The maker of Frizz No More Shampoo and Argan body moisturiser reported its results almost four months late in line with leeway granted by regulators during the Covid-19 crisis.
Creightons said the Covid-19 pandemic had increased its costs but that it had sold more of products in demand during the crisis such as its Pure Touch hand sanitisers and washes and an antiviral hand cream.
"Trading to the 31 July 2020 is ahead of last year, which has enabled the group to absorb the increased costs and risks associated with the pandemic," Creightons said. Creightons shares rose 0.9% to 55p at 09:30 BST.
In the year to the end of March sales of retailer own-label products rose 29.8% as store groups moved away from big brands. Creighton's own-brand sales rose 18.3% and contract sales dropped 20.3% as a customer took production in house.
Organic sales rose 6% last year with extra growth supplied by the acquisition of Balance Active Formula in June 2019. Creightons said Covid-19 delayed £400,000 of sales.