Hammering for Dobson Park
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.TOUGH trading conditions in power tools and industrial electronics led to a one-fifth drop in full-year profits at Dobson Park Industries.
The taxable surplus fell from pounds 13.1m to pounds 10.3m for the 12 months to 3 October, on turnover down from pounds 234m to pounds 209m. Earnings per share slumped from 7.1p to 5.5p. But a maintained final dividend of 3.85p leaves the total unchanged at 5.75p.
The company's power tools division, whose products include Kango hammers, slipped from a profit of almost pounds 1m to a pounds 563,000 loss due to a sharp drop in demand in Germany, Italy and Spain.
Profits at the group's industrial electronics businesses fell from pounds 5.5m to pounds 4.6m. Alan Kaye, chairman, said the performance was disappointing and blamed depressed aerospace and defence markets for the problems.
However, a timely cost-cutting programme at the group's mining equipment division checked the decline in operating profits, down from pounds 6.6m to pounds 6.4m on a much bigger fall in sales from pounds 122m to pounds 101m.
The division, which makes deep coal mining machinery, underwent a sweeping rationalisation more than a year ago, leading to the closure of three factories in Yorkshire.
Despite the cost-cutting, however, its prospects depend on the future of Britain's coal industry. About half the division's sales are to British Coal, and with many pits under threat, Dobson may have to take further remedial action after the Government's energy review next spring.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments