Financial Summary
Full Year Results 2008 – Key Points:
- Group revenue increased by 7.2% to £584.3m (2007: £544.9m) due to foreign exchange and acquisitions; on an underlying basis Group revenue was down 1.7% with rapid deterioration in the last quarter
- Profit before tax and exceptional items of £21.1m (2007: £33.3m), in line with October 2008 trading update
- Strong level of operating cash flow at £46.2m (2007: £42.9m)
- Sound financial position, continuing to trade comfortably within banking facilities
- New strategy announced in January being implemented: strategic focus on Components, with IMS and Secure Power representing scalable opportunities
- New operating structure to improve implementation, reduce costs and drive sales
| |
2008 |
2007 |
| |
£million |
£million |
| Revenue |
584.3 |
544.9 |
| Operating profit(1) |
27.0 |
37.7 |
| Profit before taxation(1) |
21.1 |
33.3 |
| Cash generated from operations |
46.2 |
42.9 |
| Headline earnings per share from continuing activities(1) |
9.2p |
15.5p |
| Basic earnings per share from continuing activities |
7.5p |
15.5p |
| Ordinary dividends per share |
3.69p |
10.05p |
Note(1) The above are reported before the exceptional loss in 2008.
There were no exceptional items in 2007.
