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Dowding & Mills

Companies: DWM   
31/03/2000

There may be trouble ahead for the electrical and mechanical service engineer. The fall out from BMW's decision to abandon the Rover plant at Longbridge will cast a pall over the entire West Midlands economy, according to Martyn Habgood, Dowding & Mills' chief executive. And this is not good news, as D&M derives 15% of its annual turnover in the West Midlands. Interim results for the six months to the end of December are not that different to those from last year, with pre-tax profits down 6% to £3.49m on sales up 8% to £64.4m. Habgood pointed out that trading had been difficult in the UK over the last six months, with continuing pressure on margins and the knock-on effect of a strong pound.

Market cap: £53.2m
PE Average: 24.1
PE Forecast: 6.0
PE Historic: 6.6
Share price: 34.5p

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