LONDON (Thomson Financial) - Mercury Recycling Group Plc. said its full-year
pretax profit rose significantly, and added that it is confident of its future
prospects, as only an estimated 30 percent of the around 130 million lamps a
year are being recycled.
The fluorescent light tubes and sodium street lights recycler posted a
pretax profit of 445,000 pounds for the year to Dec. 31, 2007, up from 84,000
pounds in the previous year, on a 10 percent rise in sales to about 2.66 million
pounds.
Mercury Recycling said it is not "technically possible" to pay a dividend
this year, despite its "strong" financial position, because there is a
"historical adverse balance" in its distributable reserves.
However, the company said that subject to its results being satisfactory, it
would propose a dividend next year, and thereafter, it plans to pursue a
"progressive" dividend policy in line with growth in earnings per share.
TFN.newsdesk@thomson.com
kal/ra
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|