Our Financial Performance
- Resilient financial performance in challenging conditions
- Revenue from continuing operations £304.8m (2008: £335.2m)
- Profit before tax* £15.8m (2008: £16.0m)
- Net debt reduced significantly
- Strong operating cash flow
- Cash inflow of £30m from share placing in February 2009
- Net debt £67.4m (2008: £104.5m)
- Operating margins maintained
- Operating margin* 7.3% (2008: 8.0%)
- Dividend payments resumed
*Continuing operations before tax, amortisation and non-recurring items
Operational Highlights
- Sustained investment in new product development
- Success in building our market share
- Progress on geographical expansion
- Sales outside our heartland up from 14.3% to 20.4%
- Robust performance from civil engineering business
- Resilient European market and increased focus on higher growth Middle Eastern and Asian markets