Update: Double-digit progress
Delivering double-digit earnings progress in H115 was a fair achievement in mixed market conditions. Four out of five global business units (GBU) raised EBIT in local FX and currency had a net neutral impact on results overall. Business investment is ongoing, we expect end-FY15 net debt to come in below £100m despite further significant spend in H2. A FY15e P/E of 12.6x and dividend yield of 3.9% offer investors a balanced growth and income rating.Low & Bonar manufactures and supplies performance materials commonly referred to as technical textiles. Co.'s business units are: Building and Industrial, which supplies technical textile solutions for applications in air and water filtration, building and roofing; Civil Engineering, which supplies woven and non-woven geotextiles and construction fibers used in infrastructure projects, including road and rail building, land reclamation and coastal defense; Coated Technical Textiles, which supplies a range of technical coated fabrics; and Interiors and Transportation, which supplies technical fabrics used in transportation, interior carpeting, resilient tiles and decorative products.
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