Key developments:
Revenues up 7% to £1,047m (2013: £982m) reflecting good underlying organic growth and a 3% increase due to recent acquisitions;
Adjusted operating profit reached £101.3m (2013: £91.6m);
Adjusted basic EPS at 41.1p (2013: 36.9p);
Net cash flow from operating activities at £105.0m (2013: £85.5m);
RONOA improved to 24.5% (2013: 22.6%);
The Vision 2020 Focused Growth strategy is gaining momentum with good organic growth and the acquisitions of M&H Plastics and Helioplast in the financial year 2013/14. The recent acquisition of Ace this year provides the Group with a high quality platform for growth in Asia;
The business optimisation programme Fitter for the Future is progressing well with the timing of some of the benefits accelerated;
Final dividend of 11.0p recommended giving a total year dividend of 15.5p (2013: 14.9p).
Commenting on the results, Pim Vervaat, Chief Executive, said:
"The Group delivered a strong performance in an economic environment which remained subdued for most of the year, before seeing a slight improvement in the second half. I am very pleased with the progress we achieved in the implementation of our Vision 2020 strategy, providing the Group with further platforms for profitable growth in the USA, Asia and South East Europe. The financial year 2014/15 has started in line with management's expectations."
