MS International sees profits plummet; acquires Petrol Sign

18th Jun 2015 09:30

MS International saw profits almost halve over the last financial year, but retained a positive outlook as it bolstered its petrol station division with a European acquisition.The truck and petrol station parts manufacturer said pre-tax profit for the 12 months to 2 May plunged to £1.5m from £2.9m a year earlier, while revenue dipped to £45.5m from £47.1m.However, the company emphasised that performance picked up in the second half, which combined with a strong order book, led to a favourable forecast for the current financial year.MS International also announced its acquisition of Netherlands-based Petrol Sign for £2.4m, to enhance its petrol station superstructure offering.Petrol Sign designs, restyles, produces and installs the complete appearance of petrol station superstructures and forecourts and has shown strong signs of growth in recent years."The acquisition will enhance our ability to offer and include branding and signage services as an option to petrol station markets and customers and will become an integral part of the groups 'Petrol Station Superstructures' division," said Chairman Michael Bell.As of 10:00 BST, MS International was trading 13.6% higher at 161p.