Interim Report 2014

Interim Report 2014

Interim report for the six months to December 2014

Highlights

  • Strong period end order book at £138m (June 2014: £142m)
  • Revenue up 8% to £120.5m (December 2013: £111.9m)
  • Underlying (1) profit before tax up 9% to £10.1m (December 2013: £9.3m)
  • Underlying (1) basic earnings per share up 9% to 15.9p (December 2013: 14.6p)
  • Net funds at £11.0m after £1.9m acquisition expenditure (June 2014: £12.6m)
  • Interim dividend up 8% to 4.65p per share (December 2013: 4.30p)
  • Acquisition activity with Vepro and PPA concluded in the period
  • Outlook remains positive, strong platform for further growth

(1) Excluding specific adjusting items of £1.1m (December 2013: £0.5m), which comprise amortisation of acquired intangible assets and acquisition costs (see note 6). Including specific adjusting items, reported profit before tax was £9.0m (December 2013: £8.8m) and reported basic earnings per share was 14.2p (December 2013: 13.9p).

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