2013 Preliminary Results

Financial highlights

Year ended
31 March 2013
Year ended
31 March 2012
change
Group revenue£121.54m£112.51m+8%
Underlying operating profit*£7.97m£5.63m+42%
Underlying profit before taxation*£7.25m£5.00m+45%
Operating profit£7.16m£5.39m+33%
Profit before tax£6.44m£4.76m+35%
Earnings per share:
- Basic4.39p3.45p+27%
- Adjusted diluted4.73p3.76p+26%
Dividend – Final proposed0.80p0.50p+60%
Positive cash generation (adjusted)£7.87m£4.57m+72%
Net borrowings reduced£5.20m£8.41m£3.21m
Return on Capital (ROCE)*12.1%**11.3%+80bps

* Before separately disclosed items which are shown in the Financial statements.

** Adjusted for PSEP 12 months pro-rata (9.1% on statutory basis)

Commercial highlights

Asia

  • New business, PSEP and healthier demand from existing customers despite loss of transfer contracts to China

Europe

  • Strong gains from automotive focus – diversifying from historic electronics & domestic appliances sectors

United Kingdom

  • Very strong performance - the benefit of ‘self - help’ initiatives
  • Securing significant new business at improved margins
  • Steady profit growth across all regions including Ireland and encouraging contribution from TR Direct

U.S.A

  • Creditable performance reflecting renewed vigour in the US economy and new multi-national contract wins
  • Currently, a small part of TR but strategic to the business’ future growth plans

Globally

  • Investment in sourcing, automation, IT analytics and specialist sales engineers

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