Summary Results to March 2015

 

“We are delighted to be able to report a record performance for the year.  This is reflected in an impressive increase in terms of revenue, up 19%, and underlying profit before tax, up 56%” 

 

Highlights

Year ended

31 March 2015

Year ended

31 March 2014

Change

AER^

Change

CER

Group revenue£154.74m£129.78m+19.2%+22.6%
Underlying operating profit*£15.27m£9.70m+57.5%+62.1%
Underlying profit before taxation*£14.31m£9.16m+56.2%+61.0%
Operating profit £12.82m£9.41m+36.2%+41.1%
Profit before taxation£11.85m£8.87m+33.6%+38.6%
Earnings per share:

- Basic

- Underlying diluted*

7.39p

8.68p

6.08p

5.95p

+21.5%

+45.9%

Dividend

- final proposed

- total for year

1.50p

2.10p

1.00p

1.40p

+50.0%

+50.0%

Return on capital employed (‘ROCE’)*18.6%16.3%+230bps
Net debt/(cash)£13.42m(£2.03m)£15.45m

*  before separately disclosed items, as shown in note 2

^ Actual Exchange Rate (‘AER’)

† Constant Exchange Rate (‘CER’)

“The impressive results in 2015 are stronger than originally expected. They reflect the operational improvements implemented by management over recent years which are now delivering growth in both revenue and profitability, together with the upturn in confidence as we progressed through the year.

There are some macroeconomic influences that we cannot control which may affect future results. This being said, as a business we remain confident in our ability to deliver our strategy and are excited about the future.

At this early stage of the year, the forward order book remains solid and the Group’s trading performance has been good as it continues to benefit from the positive momentum witnessed in the second half of last year. There continue to be many opportunities, both across our key sectors and with new and existing customer partnerships, and we believe that the Group will go from strength to strength. We remain encouraged by the future growth profile of the business and our commercial progress looks set to continue positively during 2015/16.”