LONDON (ShareCast) - (ShareCast News) - Sprue Aegis posted a big jump in first-half pre-tax profit as revenue more than doubled.
Profit for the six months ended 30 June more than quadrupled to £8.82m from £2.15m in the first half of last year on revenue of £56.5m, up from £23.8m.

Basic earnings per share were up 247% to 16.9p and the company declared an interim dividend of 2.5p, up from 2p in 2014.

The company, which designs, manufactures and sells home safety products such a smoke and carbon monoxide alarms, said that as at 30 June, it had net cash of £28.9m compared with £11.7m last year, and no debt.

Executive chairman Graham Whitworth said: "Continental Europe continues to offer significant sales opportunities for the group. While sales into France are softening, the 10 year product replacement cycle in Germany is about to start and, in addition, two German states with approximately 10 million homes are required by law to fit smoke alarms before 31 December 2017.

"German customers typically seek increased levels of product technology with wireless connectivity and, therefore, the sales value of replacement product sales is potentially significantly higher than the value of previous sales."

At 1254 BST, Sprue shares were up 8.6% at 339.50p.

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