MS International Reports Flat Earnings, Increases Interim Dividend Amid Strong Defence Performance
MS International reported a revenue increase to £55.8 million for the six months ending 31 October, despite a decline in profit before tax to £8.47 million. The company secured a contract with the US Navy and announced an increased interim dividend of 6p per share, reflecting strong performance in its Defence and Security division amid rising global defense spending.
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MS International reported revenue of £55.8 million for the six months ended 31 October, up from £54.7 million a year earlier, while profit before tax decreased to £8.47 million from £8.77 million. Basic earnings per share fell to 38.5p from 39.8p.
However, like-for-like profit before tax rose to £9.28 million from £7.98 million when excluding derivative gains and losses. Cash and cash equivalents increased to £35.7 million from £32 million. The group secured a one-year contract from the US Navy for its MSI-DS 30mm naval weapon system and continues to strengthen its Defence and Security division amid rising global defence spending.
The recently-merged petrol station superstructures division performed well, benefiting from modernisation projects. An increased interim dividend of 6p per share will be paid on 20 February 2025 to shareholders on the register by 23 January 2025.
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