Highlights

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