2018 Financial highlights

Revenue (£000)

£111.1m

Gross profit (£000)

£38.6m

Underlying operating result* (£000)

£11.4m

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

Operating profit (£000)

£7.7m

Total dividend

6.07p

2018 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.