StockMarketWire.com - Haynes Publishing Group posts pre-tax profits of GBP0.3m for the six months to the end of November - up from GBP0.1m last time.

Total revenues rose by 3% to GBP12.2m and EBITDA rose to GBP3.4m from GBP3.3m while operating profits doubled to GBP0.6m.

Haynes also announced that that James Bunkum has been appointed to the board as chief financial officer designate.

He has worked in the group for over 20 years and is currently the UK & European finance director and group company secretary. The appointment has been made as part of the company's succession planning as he will succeed Dan Benhardus who announced in September that he would be retiring as group finance director with effect from the end of May.

Grouip chairman J Haynes said: "We are pleased with the continued growth of our professional business which now accounts for more than a quarter of the Group's total revenue and the performance of our UK consumer automotive manuals where revenues grew by 12% against the prior period.

"We continue to experience difficult trading conditions in the US and Australian markets and senior management are focussing their attention on this area of the business.

"The initial findings of the operational, cost and structure review announced at the full year are currently being discussed by the Board and senior management. Once the review has been fully considered and an implementation plan agreed and communicated internally, a further announcement will be issued by the Board.

"I would like to offer my congratulations to James Bunkum who, with effect from today, has been appointed to the Board as Chief Financial Officer designate. James has been with the Group for 20 years and is currently the UK & European Finance Director and Group Company Secretary. James will succeed Dan Benhardus who retires as the Group Finance Director at the end of May 2016"






At 9:04am: [LON:HYNS] Haynes Publishing Group PLC share price was 0p at 107.5p



Story provided by StockMarketWire.com