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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