Source - SMW
Ensor Holdings posts a pre-tax profit of £6.3m for the four months to the end of July compared with £2.3m for the 12 months to the end of March.

Chairman K A Harrison said: "As previously advised, we are currently in the process of selling our subsidiary companies, land holdings and other assets of the Group. The aim is to realise value which is to be returned to shareholders and this process is now at an advanced stage.

"In July this year we successfully completed the sale of two businesses, Technocover Limited and OSA Door Parts Limited. Both businesses were sold at a significant premium to their balance sheet asset values, realising a gain to the Group of £5.9 million. I would like to say thank you to all those people I have worked with at Technocover and OSA, for the very successful years together.

"There now remain two Ensor subsidiary companies, Ellard and Wood's Packaging, both of which are being actively marketed.

"The first four months of trading in this current year, for Ellard and Wood's, is ahead of the result at the same time last year. We are cautiously optimistic for the full year, but remain constantly aware of the impact of exchange rates on our costs. We are working hard to maintain margins in a competitive market and have been able to offset some of the effects of a weakened pound by forward buying of currency.

"Our 31 July 2016 balance sheet includes the book values of Ellard, Wood's, our land holding at Brackley and over £10m of cash.

"As we are unsure when sales of Ellard, Wood's and the Brackley land will be completed, we feel that this would be a suitable time to make an interim capital distribution to shareholders, with a further capital distribution proposed when they are completed. However, due to uncertainty over the tax treatment of such a distribution, we do not propose to do so at this time."

At 9:29am: (LON:ESR) Ensor Holdings PLC share price was -0.5p at 62p

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