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Annual Reports Listing

Interim Report 2016

This issue is available in the following language(s):

December 2016


  • Another record order book of £244m following strong order intake in the second quarter
  • Good order intake, up 11% to £181m
  • Reported revenue up 6%
  • Dividend up 7%, reflecting growth in underlying(1) basic earnings per share
  • Net debt of £47.0m after £3.7m of net acquisition expenditure
  • Acquisition of Motorcycle Engineering Italia (Exnovo) completed in the period and all prior acquisitions performing well, and
  • Our progress on diversification across geographies and sectors provides a good platform for continued growth

(1) Excludes specific adjusting items, which comprise amortisation of acquired intangible assets of £1.9m (31 December 2015: £1.7m) and acquisition-related expenditure of £1.1m (31 December 2015: £1.0m). In the prior period, non-recurring income of £1.5m for claims under the Research & Development Expenditure Credit (‘RDEC’) scheme in respect of prior years was also included.

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