Murgitroyd Group plc Preliminary Results

Murgitroyd, the European Patent and Trade Mark Attorney, is pleased to announce its audited results for the year ended 31 May 2011.

Highlights

• Tenth consecutive year of sales and earnings growth
• Turnover increased by 13% to £33.2m (2010: £29.4m)
• Operating profit (before impact of property revaluations) increased by 7.2% to £4.13m (2010: £3.85m)
• Profit before income tax (before impact of property revaluations) increased by 8.7% to £4.0m (2010: £3.7m)
• Basic earnings per share (before impact of property revaluations) of 30.5p (2010: 30.0p)
• Basic earnings per share of 31.1p (2010: 31.8p)
• Proposed final dividend of 7.25p per share, giving a total dividend for the year of 10.75p (2010: 10p), an increase of 7.5% year on year
• New offices opened in Tokyo and San Francisco, German operations consolidated and expanded in Munich

Ian Murgitroyd, Chairman of Murgitroyd Group PLC said:
“I am pleased to report that Murgitroyd has performed ahead of expectations in an ever challenging economic climate. We have delivered on our objectives of generating significant increases in turnover and profitability whilst continuing to invest in the business. During the period, we opened two new business development offices in Tokyo and San Francisco and expanded our Munich office. Although the market environment remains volatile we are confident we can continue to generate value for shareholders both organically and, if we can identify suitable opportunities, by acquisition. We believe that Murgitroyd remains well positioned to take advantage of current and future opportunities in the market.”