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UK's Tyman half-year profit surges on construction rally
July 29, 2014 / 6:22 AM / 3 years ago

UK's Tyman half-year profit surges on construction rally

July 29 (Reuters) - Tyman Plc, a maker of window and door hardware, said underlying pretax profit jumped 83 percent for the first half, driven by a robust rebound in construction in Britain and North America.

The company, which also makes high-security locks and seals for windows and doors for residential and commercial markets, said its full-year expectations remained unchanged despite a strong pound against international currencies.

Underlying pretax profit for the six months ended June 30 rose to 17.2 million pounds ($29.2 million) from 9.4 million pounds a year earlier. Group revenue rose 35 percent to 167 million pounds.

All 7 analysts covering Tyman have a “buy” rating on the stock, according to Thomson Reuters Eikon data. ($1 = 0.5892 British Pounds) (Reporting by Aashika Jain in Bangalore; Editing by Gopakumar Warrier)

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