This company is very asset rich (industrial property),the recent and medium term charts are now excellent and trading could not get any worse than last year in that they are moving a lot of production to low cost Eastern Europe and moving away from their total dependence on tabacco machinery.

Thanks mitzy. IC Simon has a 220p target price.

Simon T in IC today has a target price of 220p.

Final Results

RNS


RNS Number : 9311A

Molins PLC

26 February 2014








26 February 2014 FOR IMMEDIATE RELEASE





Molins PLC

Preliminary Announcement for the twelve months ended 31 December 2013



Molins PLC, the international specialist technology and services group, announces its results for the twelve months ended 31 December 2013.







Group Highlights

· Sales increase of 13% to £105.2m (2012: £93.0m)

· Underlying profit before tax increase of 10% to £5.4m (2012: £4.9m)

· Underlying earnings per share increase of 10% to 23.9p (2012: 21.8p)

· Net funds of £5.2m

· Maintained full year ordinary dividend of 5.5p per share



Commenting on the performance and outlook Dick Hunter, Chief Executive, said:

"I am pleased to report a strong performance for the Group over the year, with sales growth achieved across all three of our divisions, leading to an increase in profits. Our ability to provide products and services that meet the specific needs of our customers, across a range of markets, has helped to consolidate Molins' established position.

"We remain mindful of the uncertain economic and regulatory environment, but are confident the Group will continue to demonstrate progress on its various growth initiatives, and through acquisition."



Divisional Highlights

Scientific Services

· Increase in sales of 15% with strong growth at Cerulean

· Cerulean delivered its strongest annual performance and maintained its market leading position

· Sales at Arista Laboratories lower than the prior year, as a regulatory regime for the testing of tobacco products in the USA has yet to be confirmed



Packaging Machinery

· Increase in sales of 14%, with increased demand in Europe

· Development of sales and service organisation in Asia to support customers' growth plans

· Molins Technologies (ITCM) delivered robust sales growth and improved profitability



Tobacco Machinery

· Increase in sales of 11%, leading to improved profitability

· Benefited from meeting the challenging service and delivery requirements of customers

· Ongoing investment in new and enhanced products

Edison - Recent share price weakness stemming from the delayed introduction of a
new regulatory regime for tobacco products in the US has been reversed
following strong 2013 results. The shares look undervalued on the
performance of the group’s engineering businesses alone; the mediumterm
potential from Scientific Services adds significantly to the potential.

LISTEN: Dick Hunter, Chief Executive of Molins, discusses the preliminary results for the international specialist technology and services group

Click here to listen

Seems they've just finished their AGM and need to tell us 20 times ( 20-RNS -DYOR), so someone at head office must still have their finger on the Button. Oh deary, and the sp has dropped recently from about 80p to more recently =abt. 60p.
I guess fewer ciggys are needed - and the machines to make 'em.