Soldering products manufacturer Oglesby & Butler has reported solid growth for the year to the end of March, with pre-tax profits up from £462,139 to £625,185 while sales grew from £3.8 million to £4.4 million.

Chairman, Mr Nevin Dowling said the group was in a strong position to take advantage of the economic upturn, particularly in the US. The favourable trends in sales towards the end of last year continued into the first quarter of the current year.

Shareholders are to receive a final dividend of 1p per share, bringing the total payout to 2p per share. As the dividend is paid out of royalty income, it is tax free to the shareholders.