Results in line with revised expectations and impacted by currency movements
Group revenue of £729.4 million, down 4 per cent at constant currency
Underlying profit before taxation of £65.6 million and earnings per share of 23.3 pence
Further progress by AEP, with record revenue at constant currency
A resilient performance by ECS in difficult market conditions
Increased final dividend of 8.0 pence making 12.0 pence for the year, an increase of 7 per cent
Nicholas Hobson, Chief Executive Officer, commented:
"The Group's results for the year, whilst below our expectations at the start of the year, reflect another encouraging performance by our AEP division and represent a creditable outcome taking into account the impact on ECS of the deterioration in trading conditions which took place in certain parts of the global mining industry during the year.
We have entered the financial year with the Group well placed to respond to the opportunities and challenges which we are facing. We are very aware of the potential impact on our end markets and the world economy generally from falls in the prices of energy and commodities and from forecasts of lower economic growth.
Overall, the strength and resilience of our businesses mean that, in a climate of increased economic and political uncertainties, we anticipate that growth in revenue and profitability in AEP is likely to be offset by weakness in the mining market."
