Annual Report 2020/21

Annual Report 2020/21

Highlights for the year ended 30 June 2021

  • 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 margin
    Defense(1) 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

  • Equity fund 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

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