Annual Report 2018/19

Annual Report 2018/19

Highlights for the year ended 30 June 2019

  • A resilient performance, demonstrating the development of the business and the success of diversification across sectors and geographies
  • Strong growth in Performance Products and Energy & Environment in particular, offset a very challenging year in our European and US Automotive businesses
  • Order intake robust at £386m, compared to £413m in FY 2017/18 and £366m in FY 2016/17
  • Order book increased to £314m, up £19m on June 2018
  • Revenue up 2% to £384.4m on FY 2017/18
  • Underlying PBT similar to prior year at £37.0m (FY 2017/18: £37.5m)
  • Record McLaren engine deliveries and ABS production commenced
  • Two Australian acquisitions in Rail and Energy & Environment (May 2019 and July 2019, respectively)
  • Net debt at £47.4m, including £22.4m acquisition costs (June 2018 Net debt: £26.1m)
  • Dividend increased by 4% to 21.28p from 20.46p
  • Current political and economic uncertainties aside, we are well positioned for growth from a strong, diversified order book and pipeline, recurring revenue from long-term production programmes and the benefit of recent acquisitions

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