A quality business
sharpening our edge
Our performance
Revenue
£277.0m +10%
Highlights
- Revenue up in all segments
- Good growth in Watson-Marlow Pumps - well spread geographically
- Steam specialties - good growth Asia and Latin America
- Acquisitions added 2% to sales growth
Five year record
5 year record highlights
- 10% growth pa over the last five years.
Highlights
- Operating profit up 41%
- Good growth in all segments mainly due to increased sales, overhead leverage and lower material costs
- Operating profit margin increased to 19.3%
Five year record
5 year record highlights
- 17% growth pa over the last five years.
| *Adjusted half year 2010 |
2010 | 2009 | Change |
|---|---|---|---|
| Revenue | £277.0m | £251.6m | + 10% |
| Operating profit | £53.5m | £37.8m | + 41% |
| Operating profit margin | 19.3% | 15.0% | |
| Profit before taxation | £54.9m | £38.2m | + 44% |
| Earnings per share | 49.8p | 34.9p | + 43% |
| Dividends per share | 13.0p | 10.5p | + 24% |
*All profit measures exclude the amortisation of acquisition-related intangible assets of £1.6m (2009: £1.0m) of which £0.2m (2009: £0.2m) relates to Associates, and the profit on revaluation of investment arising from the acquisition of a company previously treated as an Associate of £8.0m (2009: £nil) net of acquisition costs. They also exclude headcount reduction costs of £nil (2009: £7.0m). The tax effect on these items was £0.2m (2009: £2.1m).
Summary of results
- Revenue up 10% - increase of 8% at constant currency
- Operating profit margin at record 19.3%
- Pre-tax profit up 44%
- Interim dividend increase of 24%
- Strong balance sheet with £20m net cash
Geographic sales
EMEA
41%
41%
Asia Pacific
20%
20%
Americas
21%
21%
Watson-Marlow
18%
18%