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Highlights 

  • Dowlais Group secured ~12.4% year-on-year growth in its revenue from GBP 2,518 million in H1 FY22 to GBP 2,830 million in H1 FY23.
  • Its profit before tax rose by 27.5% to GBP 139 million in the reporting period from GBP 109 million in H1 FY22.
  • The Group witnessed a 10% year-on-year increase in its adjusted revenue for H1 FY23.

FTSE 250 index listed Dowlais Group PLC (LSE: DWL) is a specialist engineering group serving the automotive sector.

In the first half of the year 2023, Dowlais achieved approximately 12.4% year-on-year growth in its revenue from GBP 2,518 million in H1 FY22 to GBP 2,830 million in H1 FY23. Its profit before tax rose by 27.5% to GBP 139 million in the reporting period from GBP 109 million in H1 FY22.

For the four months ended 31 October 2023, the Group posted a 4.7% YoY hike in its adjusted revenue. It reported an adjusted operating margin of 6.8% for the period.

According to the company, this has been a record year for GKN Automotive with new business bookings of about £5.4 billion in forecast lifetime revenues.

Also, the Powder Metallurgy division of the company has strengthened its EV portfolio and advancing to finalize the commercial agreement for the supply of magnets for the EV market.

Dowlais Group witnessed a 10% year-on-year increase in its adjusted revenue for H1 FY23. It was mainly because of increased volume, higher operational efficiencies and better commercial terms with customers.

The company has paid an interim dividend of 1.40 pence per share in October 2023, with an ex-dividend date of 21 September 2023.

 

Top 10 Shareholders:

Approximately 43.93% of the total shareholding in the company is held by its top ten shareholders. While Capital Research Global Investors is the biggest shareholder with over 15.50% shareholding, Fidelity International is the second-biggest shareholder with around 5.02% shareholding in the firm.

 

Stock Price Performance

DWL’s stock price has dropped by 8.51% in the last one month. It has declined by over 21.13% over the last six months. The stock’s 52-week low and high price stand at GBX 84.50 and GBX 148.00, respectively.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 09 February 2024. The reference data in this report has been partly sourced from EODHD/Others.