Creightons plc (LON:CRL) Result 2019

Creightons plc (LON:CRL) released its full-year results last week. Revenue increased 26.4% to £44.0 million, operating profit increased 77.4% to £2.9 million and dividends rose from 0.23p to 0.40p. In the second half, revenue rose 20% to £21.7 million and operating profit more than doubled from $0.7 million to $1.5 million. Operating profit has quintupled since 2016 and shares on issue have remained fairly flat over the same period. The company benefits from Brexit as some of its UK customers source toiletries from Europe and as a UK manufacturer Creightons offers them a tariff free alternative. The stock trades on a historical price-to-earnings multiple of under 10 based on normalised tax rates (13%), but last week's report contains little information on outlook for the year ahead. I added to my CRL holding in May at 28p and it is now the largest position in the UK Portfolio.

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