Preliminary results for the year to 30 September 2007

Romag Holdings plc, a specialist manufacturer of glass and plastic composites for renewable energy, security, transport and architectural applications, announces its preliminary results for the year to 30 September 2007.

FINANCIAL HIGHLIGHTS

• Sales up 6% to £17.4m (2006 £16.4m)
• Gross margins improved to 34% (2006 31%)
• Pre-tax profits up 44% to £2.76m (2006 £1.92m)
• Earnings per share up 52% to 4.7p (2006 3.1p)
• Total dividend up 15% to 1.15p per share
• Successful placing raised £7.3m net
  

POWERGLAZ HIGHLIGHTS

• PowerGlaz sales up 40% year on year and now 40% of total sales
• Five-year, €80m Spanish contract signed
• Second PowerGlaz line commissioned and in production
• Orders placed for two additional PowerGlaz production lines to increase capacity
  from 12 MW to 28 MW
• Two new cell supply agreements, including ten-year contract with Q-Cells
• BP Solar Global Alliance Agreement extended for further two years
  

Chairman, John Kennair, said

"2007 was another successful year for PowerGlaz, our photovoltaic glass product. PowerGlaz has developed a strong reputation and growing foothold in the solar energy market, which has led to sales growth of 40% in the last 12 months.

The installation of our second PowerGlaz production line has allowed us to expand our customer base and we anticipate further strong sales growth looking forward. Following the successful raising of £7.3m in July, we have ordered two further production lines that will increase our capacity from 12MW to 28MW per year.

While our traditional products of security, transport and architectural glass remain a key element to the business, we foresee future growth to be predominantly driven by the PowerGlaz range."

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