Haynes Publishing’s (HYNS) revenues rose by 7 per cent in the year to May 2019, reaching £36.2m. This was buoyed in part by the company’s digital and technical data products, for which sales rose by a fifth to £20.2m – constituting more than half of the total top line.
While adjusted cash profits were up 11 per cent to £12.8m, statutory pre-tax profits contracted by 48 per cent to £1.9m. This stemmed not only from a gain on the disposal of property in the prior year, but also from higher administrative expenses in the period under review – including £1.2m from the equalisation of guaranteed minimum pension benefits.
The group has zero debt for the first time since 2013. Net cash rose from £2.5m to £4.9m and the full-year dividend was held at 7.5p a share.
