Engineering group Unidare this week showed the benefits of some remedial spot welding on its business, the solid recovery in earnings likely to continue into the current financial year. Results covering Unidare's financial year ending September 30th last show meaningful growth, with pre-tax profits rising 17 per cent to £6.9 million. Significantly operating profits grew 28 per cent to £7 million and operating margins widened to 5.6 per cent. Chief executive Paul Duggan took heart from the performance, management engineering a climb back both from the previous year's losses and a moribund performance in the first six months. Engineering supplies was the main revenue generator, the division lifting operating profits 30 per cent to £5 million.

Confidence of better times ahead is reflected in an improved total dividend pay out, shareholders receiving a 4.4 per cent increase in the final payment bringing the total to 17.4p a share.