Hydro International Plc. (HYD.L), a provider of environmentally sustainable and innovative products for the control and treatment of water, announced its unaudited final results for the year ended 31 December 2012, reporting that profit from continuing operations decreased to 1.70 million pounds from 1.71 million pounds in the previous year. Earnings per share were 11.60 pence per share down from 11.75 pence per share last year.
Profit before tax for the year declined to 2.26 million pounds from 2.46 million pounds in the prior year.
Adjusted earnings per share declined to 12.43 pence per share from 12.65 pence per share last year. Annual revenue increased to 34.69 million pounds from 31.06 million pounds last year.
The company said that its board recommended to maintain the final dividend at 3.6 pence per share. The dividend is subject to approval by shareholders and will be paid on 10 June 2013 to shareholders on the register on 17 May 2013.
"The process for the recruitment of a new Chief Executive Officer is progressing well and the Board is currently interviewing a shortlist of high-calibre candidates", the company said.
The company expects that revenue and profitability in 2013 will be materially lower than 2012 levels. In addition the anticipated timing of revenues on contracts is expected, as in previous periods, to weight results for the year significantly to the second-half.
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