Shares in consumer goods firm Creightons PLC (LSE:CRL) jumped over 6% on Friday morning, as the company reported stronger second-half results on the back of earlier “remedial” actions.
Reporting an over four-fold jump in operating profit to £1.3mln from £0.3mln during the second half, the fragrance and beauty product maker pointed to a successful efficiency drive.
Higher product pricing and a reduction in overheads helped to boost second-half trading, although full-year revenue and underlying profit came in 4.2% and almost 50% lower year-on-year respectively, at £58.6mln and £3mln, the company reported.
“This represented among the most challenging trading years ever faced,” chairman William McIlroy said, “I am pleased to report that we have responded to these challenges and made excellent progress.”
Shares rose 6.5% to 33p on Friday’s opening, before falling back.