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Strong Dollar Boosts Unidare Full-Year Profits

Engineering company Unidare has reported pre-tax profits of 10.9m euros for the year to the end of September, up 28% on last year.

Sales grew from 171.7m euros to 281.1m euros, boosted by a full year contribution from oilfield supplier Oklahoma Rig and Supply, which was acquired last year.

A most of Unidare's sales are in the US, the strong dollar added about 600,000 euros to pre-tax profits though it had an adverse effect of 5.4m euros on net debt.

Adjusted earnings per share were up from 30.4 cents to 45.8 cents, while a total dividend of 24.5 cents has been declared.