Financial highlights

Revenue

£000

£111111.1m

131415161718

Gross profit

£000

£3838.6m

131415161718

Underlying operating profit*

£000

£1111.4m

131415161718

Operating profit

£000

£77.7m

131415161718

Total dividend

£000

66.07p

131415161718

* Underlying operating profit is continuing operations operating profit before separately disclosed items (note 4) and the impact of fair value adjustment to inventory (note 24.1)

Operational highlights

  • Revenue growth of 42% on previous year including organic growth in each division and 5.7% in aggregate.
  • 0.9% increase in overall gross margin.
  • Underlying operating profit growth of 25% on previous year.
  • Successful acquisition and integration of Balu Limited and its subsidiaries; Beaumanor Engineering and Derek Lane & Co.
  • Significant progress in establishing Components and Services divisional structure, under single Chief Operating Officer role.
  • New Board appointments of Russell Cash as CFO, Bill Wilson as Independent Non-Executive Director and appointment of Bryce Brooks to CEO.
  • Executive Management team enhanced and focused on cost and working capital management.