HIGHLIGHTS – for the half year ended 31 December 2016
- Record order book at £244m (Jun 2016: £231m)
- Revenue up 6% to £167.0m (Dec 2015: £157.8m)
- Underlying(1) PBT up 5% to £15.1m (Dec 2015: £14.4m)
- Underlying(1)basic earnings per share up 7% to 22.3p (Dec 2015: 20.8p)
- Net debt of £47.0m after £3.7m net acquisition expenditure (Jun 2016 net debt: £34.4m)
- Interim dividend up 7% to 5.42p per share (Dec 2015: 5.07p)
- Acquisition of Motorcycle Engineering Italia (Exnovo) completed in the period and all prior acquisitions performing well
- Our progress on diversification across geographies and sectors provides us with a good platform for continued growth.
(1) Excluding specific adjusting items which comprise amortisation of acquired intangible assets and acquisition-related expenditure. In the prior period, non-recurring income for claims under the Research & Development Expenditure Credit (‘RDEC’) scheme in respect of prior years wasalso included in specific adjusting items.