Sales increased by 27% to £48.5 million (2009: £38.3 million). At constant currency and excluding acquisitions, the increase in sales was 15% with good growth across all regions, especially Asia where we have continued to add sales resource. Pharmaceutical markets have generally been slow to recover with lower project activity. The markets in EMEA have been positive with good demand from OEMs, particularly in Germany. There were good results in the Americas, especially in Brazil, with growth in the mining and water and wastewater sectors, and in our new direct sales operations in Mexico and Argentina. MasoSine, which was acquired in August 2009, has seen flat demand but with good profits, and its integration into Watson-Marlow's direct food and beverage sales channel is progressing well. Operating profit increased by 57% from £8.9 million to £14.0 million and at constant currency and excluding acquisitions the increase was 44%. The operating profit margin expanded further from 23.2% to 28.8%, benefiting from the inclusion of MasoSine.
Business review
Sharpening our edge through new launches
Watson-Marlow Pumps Group has launched PureWeld XL, a weldable, ADCF free tube for applications in bio-pharmaceutical processes. PureWeld can be securely welded, allowing complete connector-free fluid paths to be assembled in minutes, reducing costs and contamination risks.
