MBL Group - Preliminary Results For The Year Ended 31March 2010
19-07-2010

The Board of MBL, the UK distributor of home entertainment products, is pleased to announce its preliminary audited results for the year ended 31 March 2010.  
 
Highlights:
 

• Revenue increased 35.7% to £194.9 million (2009: £143.6 million);
• PBT increased 22.2% to £9.9 million (2009: £8.1 million);
• Debt free with cash balances of £5.8 million at 31 March 2010 (2009: £2.6 million);
• EPS increased by 17.5% to 40.3 pence per share (2009: 34.3 pence); and
• Proposed final dividend of 7.5 pence per share (2009: 6.0 pence per share)

Commenting on these results, Peter Cowgill, Non-Executive Chairman of MBL, said: 

“The Group has experienced an encouraging year during a period of significant change. The  substantial increase in volumes has in part been driven by the successful integration of the combined business segments along with an increase in chart sales over the past eighteen months. Furthermore, a strategic and operational review has been performed during the year which is expected to deliver more diverse revenue streams and internal efficiencies over the medium term. 

“The Directors remain committed to delivering value back to shareholders and are proposing to pay a final dividend of 7.5 pence per share in 2011, representing a 25% increase on the 2010 dividend.

“The economic climate is presenting opportunities for the Group to grow and we are confident that we will be able to deliver a solid platform for the future sustainability of the business.”

For full results, please click here

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Enquiries:

Bishopsgate Communications
Gemma O'Hara/SIobhra Murphy

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