2012 Half-yearly Results Summary

Key Financials

% change
Sept 2012
Sept 2011
30 September
30 September
31 March
Full year
31 March
Continuing operations
Gross profit+11.6%£15.90m£14.25m£14.58m£28.83m
Underlying EBITDA *+50.3%£4.60m£3.06m£3.48m£6.54m
Underlying pre-tax profit *+51.9%£3.60m£2.37m£2.63m£5.00m
Pre-tax profit+59.2%£3.39m£2.13m£2.63m£4.76m
Basic earnings per share+28.8%2.28p1.77p1.68p3.45p
Adjusted diluted earnings per share+25.0%2.30p1.84p1.92p3.76p

* Before IFRS2 charge, acquisition expenses, and restructuring credit/(costs)


  • Underlying pre-tax profit up 52% at £3.60 million on corresponding period last year following the acquisition of PSEP
  • TR regions:
    • UK profit growth with margins improving
    • Europe steady growth continues
    • USA now profitable with ambitious plans for 2013
    • Asia (excl PSEP) achieved growth following Thai Floods and Japanese Tsunami
    • PSEP integrating well and major contributor to Group's 10.5% revenue growth
    • Overall, TR Asia showed an impressive 42.9% revenue growth against the corresponding period last year
  • Over 60% of Group sales now from outside UK
  • Automotive contracts for new models providing increasing revenue pipeline into 2013 and beyond
  • International 'Supplier of the Year' Awards from two key global multinational customers -creating new opportunities in the USA
  • Growth sustained with a reduced overhead percentage and headcount compared to FY March 2012

When we reported back in June this year, we termed our business outlook as 'A World of Opportunity', and happily, nothing has occurred since then to dull our optimism in overall Group performance going forward.

We remain mindful of the continuing macro uncertainties particularly in the Eurozone; however, the current levels of business dynamics lead management to remain confident in the prospects of the business for both this financial year and the next.

View the announcement in full