Still a long way to go for Graystone

Article Abstract:

Graystone has undergone expansion through acquisitions and encountered difficulties when the expansion halted. The company is selling an engineering concern, which strengthens its balance sheet. The company's cash flow has been poor and net debt rose to 12.8 million pounds sterling. The company has lost most of its former management team. The main remaining business is the distribution of automobile parts. The company's pre-tax profit is forecast at 2.5 million pounds sterling by ABN-Amro Hoare Govett.

Graystone PLC

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Heywood Williams

Article Abstract:

Heywood Williams saw a drop in operating profit of 13% to 28.6 million pounds sterling for 1995, though pre-tax profit was boosted by the disposal of Thermax and real estate assets. The company has been affected by weak demand for residential property in the UK, but this may change in 1996. Maccess, a wholesaler of car parts acquired in Sep 1995, should also help contribute to profits in 1996. The company's profit is forecast at 33 million pounds sterling for 1996 by Merrill Lynch.

Nonmetallic Mineral Product Manufacturing, STONE, CLAY, AND GLASS PRODUCTS, Construction Materials, Building materials industry, Building materials, Heywood Williams

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Powder metals' pluses to power GKN

Article Abstract:

GKN has seen a drop in its share price following a ruling that the company had to pay damages because Meineke, its exhaust division, was guilty of overcharging. The company is appealing and the share price drop has been an overreaction. GKN has acquired Sinter Metals which gives it global leadership in the powder metal automotive parts market. GKN's aerospace division should see a rise in earnings from helicopter deliveries, and the pallets bsuiness should also continue to grow.

Aircraft, Aircraft Manufacturing, Military Helicopters, Engineering services, Engineering firms, GKN PLC

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