Molins’ tobacco machinery sales down but scientific services sales increase

Molins’ sales during the year to the end of December, at £93.0 million, were up by three per cent on those of 2011, £89.9 million.

Its underlying profit before tax was up by nine per cent to £4.9 million and its underlying earnings per share was increased by 19 per cent to 21.8p.

Tobacco Machinery sales were down by nine per cent to £31.1m, but operating profit before exceptional items was maintained at £2.2 million.

Sales within the group’s Scientific Services division, which comprises Arista Laboratories and Cerulean, increased by nine per cent £23.1 million, but operating profit, before exceptional items, decreased by 37 per cent to £1.2 million, mainly as a result of increased infrastructure costs and a ‘particularly uneven work-load at Arista’.

Packaging Machinery sales increased by 12 per cent to £38.8 million, while operating profit, before exceptional items, rose from £0.4 million in 2011 to £1.5 million in 2012.

The chief executive, Dick Hunter, said that the group had continued to show good progress during the year, delivering both increased sales and underlying earnings.

“We have also continued to invest across the group, with a particular emphasis on opportunities within the Scientific Services division,” he said.

“Looking ahead, we have entered 2013 with a good order book and are well placed to make further progress with our various growth initiatives during the year.”