Shares climb as Goode Durrant returns to black
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.SHARES in Goode Durrant, the equipment hire and housebuilding firm, rose 11p to 152p after it revealed a return to profit in the first half of its financial year and a small increase in dividend, writes Rupert Bruce.
Derek Kingsbury, chairman, said: 'It is encouraging to see the management situation starting to move and, having disengaged from Laidlaws at long last, having a modest increase in dividend.'
All three divisions - vehicle, equipment hire and housebuilding - increased profits but associated companies' profits fell back.
Pre-tax profit rose to pounds 4.29m after a pounds 1.8m profit in the first half of last year and a loss of pounds 15.4m in the last full year.
Earnings per share rose from 2.3p to 5.8p and the interim dividend is up marginally from 2.15p to 2.2p.
Turnover fell sharply from pounds 90.6m in the corresponding six months last year to pounds 58.1m because the Laidlaw motors and leasing businesses have been sold.
Graham Perrins, a spokesman for the Winnedael investment vehicle of the South African Nash family, which owns 24.6 per cent of the company, said: 'These are pretty good results. The core van rental business is one with a future, but we remain concerned that some of the other businesses have less promise.'
At 150p Goode shares are trading above the 120p average Winnedael paid for its interest.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments