StockMarketWire.com - Andrews Sykes posts after-tax profits of £11.1m for the year to the end of December - down from £11.6m last time.

The group's revenue for the year was £58.4m, an increase of £4.6m, or 8.4%, on last time.

The group said this increase had a significant impact on normalised operating profit which increased by £2.4m from £11.9m to £14.3m. But it said 2011's results benefited from a non-recurring profit of £3.1m on the sale of a freehold property. Consequently the basic earnings per share decreased slightly from 27.05p last year to 26.39p in the current period.

Excluding the effect of this one-off sale the basic earnings per share would have shown an improvement of 6.15p, or approximately 30%, from last year's adjusted figure of 20.24p to this year's figure of 26.39p.


At 8:38am: [LON:ASY] Andrews Sykes Group share price was +0.5p at 226.5p



Story provided by StockMarketWire.com