2020-21
Prelim results & presentation 2020/21 - September 2021
Highlights
- The business continues to grow and we are well positioned as markets recover post COVID-19
- Positive momentum, with H2 underlying profit before tax of £13.0m, compared to £5.0m in H1
- All segments, except Automotive & Industrial, increased profitability on the prior year:
- Energy & Environment and Rail performed strongly, with increased margins
- Defense ABS Retro-Fit deliveries commenced
- In Performance Products, transmission volumes increased year-on-year and engine volumes increased steadily throughout the year
- Within Automotive & Industrial, performance improved in the US and China and declined in EMEA
- Fund equity raise, together with a strong working capital performance, enabled the Group to reduce net debt by 36% to £46.9m
- Final dividend of 5.11p per share (total dividend of 6.86p per share) declared