Clyde Process Solutions resumes dividend

In the year ended February 28 2010, group revenue fell by 9.5m to 72.5m, although profit for the year after tax increased by 500,000 to 3.1m. A final dividend of 0.8 pence per share is also proposed.

The company's forward order book at the end of April was 21.8m and Clyde plans to broaden its market penetration into areas such as sugar and petrochemicals

Jim McColl, the company's chairman, said: "We have delivered an exceptionally strong set of results in what has been a challenging economic environment for many businesses."

Mr McColl said the company had created a well-diversified business across a wide range of customer markets.

He added: "Strong fiscal management, supported by an enhanced strategy of broadening our market penetration, developing patentable technologies, and expanding geographical coverage will enable the group to build on these results and deliver long-term growth for our shareholders.

"I am disappointed at the continuing low value placed on our group despite the continuing strong performance of our business. We are reviewing ways to maximise value for our shareholders as a priority.

"The resumption of the dividend reflects the board's confidence in its future and reflects the continuing growth in profits and cashflow despite unsettled market conditions."