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Financial Highlights
| CHANGE | 2009/10 | 2008/09 | |
|---|---|---|---|
| Continuing operations | |||
| Revenue | +0% | £221.1m | £221.7m |
| Adjusted profit before taxation(1) | -2% | £38.1m | £39.0m |
| Statutory profit before taxation | -1% | £35.4m | £35.6m |
| Adjusted earnings per share(2) | -2% | 7.37p | 7.52p |
| Statutory earnings per share | +0% | 6.87p | 6.85p |
| Interim dividend per share | +5% | 3.31p | 3.15p |
| Return on sales(3) | 17.1% | 17.6% | |
| Return on total invested capital(4) | 12.6% | 14.7% | |
| Return on capital employed(4) | 52.4% | 57.1% |
Pro-forma information:
- Adjusted to remove the amortisation of acquired intangible assets of £2.7m (2008/09: £3.4m).
- Adjusted to remove the amortisation of acquired intangible assets and the associated tax. See note 4 for details.
- Return on sales is defined as adjusted(1) profit before taxation from continuing operations expressed as a percentage of revenue from continuing operations.
- Organic growth rates, Return on total invested capital (ROTIC) and Return on capital employed (ROCE) are non-GAAP performance measures used by management in measuring the returns achieved from the Group’s asset base. See note 7 for details.
Our strategy
Create sustained shareholder value by operating in markets offering consistent high returns and long-term growth
Strategic Directions
Organic growth Acquisitions
Delivering the strategy
- Niche market focus
- Entrepreneurial culture
- Decentralised decision making
- High quality management
- Intercompany collaboration
- Strong financial resources
- Investment in innovation
- International operations
- Acquisition/disposal expertise
- Progressive dividend policy
We achieve sustainable competitive advantage by operating in relatively non-cyclical, specialised global markets. Our chosen markets have significant barriers to entry for competitors, are underpinned by resilient growth drivers and must offer the potential for high returns and strong long-term growth.
