9 April 1998: Austrian fire-proof and waterproof materials maker Radex-Heraklith (RHI) said it planned to raise the 1997 dividend by one schilling to Sch 16, after releasing final profit figures for t…
9 April 1998: Austrian fire-proof and waterproof materials maker Radex-Heraklith (RHI) said it planned to raise the 1997 dividend by one schilling to Sch 16, after releasing final profit figures for the year. The company also said it expected return on sales to increase to 5% this year from 4.1% in 1997. The final figures were little changed from preliminary 1997 results published on 5 February. Sales rose to Sch 21.46 billion from Sch 21.01 billion in 1996 and operating profit increased to Sch 1.16 billion from Sch 911 million. Pre-tax profit jumped about 30% to Sch 887 million, as both the Refractories/Engineering division and the Insulating/Waterproofing division increased profits. Earnings per share jumped 34% to Sch 49. The management board said it would propose at the annual general meeting, scheduled for 19 May, to raise the 1997 dividend to Sch 16 from Sch 15 the year before. “Due to global presence and a broad client structure, declines in some client industries (glass) and one region (Asia) were more than balanced out,” a company statement said. “Moreover, the product mix shifted even further towards higher-grade products and services, and the cost structure at all European locations was improved.” The company reportedly increased its stake in Germany“s Didier-Werke AG to 88.6% from 75.2% as of 13 March. RHI said it planned a further expansion of its extensive global business activities “with a clear focus on the world“s emerging markets”. “Furthermore, there is to be an increased concentration on the high-quality segments of the RHI markets in order to further reduce dependence on industrial and market cycles,” the statement said.