Operational highlights
Strong revenue growth driven by acquisitions;
Strong cash flow - cash conversion up from 59% to 68%;
Significant improvement in performance between H1 and H2;
Flexipol acquisition contributing well to Group performance;
Continued progress in China with Shengli integration and four new key accounts;
Creasing matrix volumes up 7% year-on-year;
Strong pipeline of new business still to go into production;
Another significant increase in dividend.
Commenting on these results, Faisal Rahmatallah, Executive Chairman, said:
"We have achieved strong revenue growth in FY2015, reflecting excellent acquisitions made over the last 18 months. Flexipol has contributed strongly and Shengli has enabled us to transform our operations in China. Meanwhile, organic growth, which had slowed in H1, resumed in H2 as long awaited projects in our bearings division entered production. Profitability and cash flow have remained strong.
"Trading in the current year is in line with management's expectations and we anticipate that turnover will improve throughout the year as projects that have already been won convert into sales and we take advantage of synergies and growth opportunities at Flexipol. We look forward to another year of good progress."
