Interim Report 2017

Interim Report 2017

Interim report for the six months to December 2017

HIGHLIGHTS

  • Record order book at £302m, up £54m on June 2017:
  • Strong order intake at £238m, up £57m on HY 2016/17;
  • Revenue up 9% to £183m and underlying PBT up 8% to £16.3m on HY 2016/17;
  • Net debt reduced from £38m at June 2017 to £32m (after £6m acquisition of Control Point);
  • A good mix of orders in terms of geography, sector and size with increased orders in hybrid/EV activity at 24% of total Group order intake, up from 17% in FY 2016/17;
  • Acquisition of Control Point completed in the period and performing well; and
  • Outlook remains positive with a good pipeline.

 

 

 

% Change

 

HY 2017/18

HY 2016/17

Reported

Organic(3)

Order book (£m)

302

244

+24

+22

Order intake (£m)

238

181

+31

+28

Revenue (£m)

182.6

167.0

+9

+7

 

 

 

 

 

Underlying(1)

 

 

 

 

Profit before tax (£m)

16.3

15.1

+8

+6

Basic earnings per share(2) (p)

23.6

22.3

+6

+3

 

 

 

 

 

Statutory

 

 

 

 

Profit before tax (£m)

12.5

12.1

+3

+1

Basic earnings per share (p)

16.7

17.7

-6

-9

 

 

 

 

 

Dividend per share (p)

5.75

5.42

+6

n/a

Net debt

(31.5)

(47.0)

+33

n/a

(1) Excludes specific adjusting items which have impacted reported profit before tax, comprised of amortisation of acquired intangible assets of £2.2m (HY 2016/17: £1.9m), acquisition-related expenditure of £0.5m (HY 2016/17: £1.1m) and reorganisation costs of £1.1m (HY 2016/17: £Nil).
(2) In the current period, a non-recurring tax charge of £1.1m arising from the reduction in the US federal tax rate was also classified as a specific adjusting item, which has impacted reported profit after tax.
(3) Excludes the performance of acquisitions (Control Point Corporation).

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