Highlights

• A turbulent and challenging year with a backdrop of weak passenger car market, diversification strategy and cost reduction focus mitigated full impact
• Q4 intake levels led to strong closing orderbook at £101m (June 2009: £97m)
• Revenue of £162.8m (June 2009: £178.8m)
• Operating profit £12.6m (June 2009: £15.1m)
• Profit before tax £10.8m, EPS 20.1p (June 2009: £15.7m, 28.8p)
• Minimal gearing maintained - net debt at £7.8m (June 2009: £3.5m)
• Full year dividend maintained at 10.7p
• Sale of non core exhaust business concluded 30 July 2010
• Positive outlook as markets recover.