Umeco, the specialist aerospace distribution and services group, today announced its results for the six months ended 30 September 1999. Highlights include :

>> Profit before tax and goodwill amortisation up by 28% to £3.5 million (1998 : £2.7 million)

>> Earnings per share excluding goodwill amortisation up by 25% to 15.0p (1998 : 12.0p)

>> Interim dividend up by 25% to 3.0p per share (1998 : 2.4p)

>> Net cash inflow from operations was £4.7 million (1998 : £2.0 million)

>> Both Aerovac Systems, acquired in March 1999, and the ASED group of companies, acquired in July 1999, have performed in excess of expectations

The Chief Executive of Umeco, Clive Snowdon, said : "Our established businesses have continued to move forward positively while the acquisitions we have made have more than met our targets. The full integration of those acquisitions, which is proceeding on schedule, is expected to generate further benefits.

"Demand continues to grow for the value added outsourcing services Umeco provides to the international aerospace industry and further contracts are expected in this area.

"The Group looks forward to the future with significant confidence."