Romag Extends Glass Ceiling

Romag increased annual sales of its photovoltaic architectural glass by 40 per cent, lifting the product's contribution to total sales to 40 per cent.

Lyn Miles, chief executive, said the move towards PowerGlaz was improving overall margins and a further two production lines were scheduled to open next year, doubling capacity.

Total sales rose £1m to £17.4m in the year to September 30 as pre-tax profits increased from £1.9m to £2.8m.

Earnings per share rose from 3.1p to 4.7p and the proposed final dividend of 0.75p will lift the total pay-out for the year 15 per cent to 1.15p.

The shares - priced at 170p for a placing that raised £7.3m in July - closed up 24½p at 240½p.

by David Blackwell

600450 Romag Extends Glass Ceiling

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