Commenting on the results, Harriet Green, Group
Chief Executive, said:
`Despite the sharp contraction last year in
global industrial and technology markets, we continued to demonstrate the
resilience of our balanced strategy and operating model. We increased sales
despite the previous year's record levels, we maintained full-year operating
profit and we achieved an industry-leading return on sales for the fourth
successive year. The successful execution of our strategy generated strong
cash flow. As a result of this performance, we were able to maintain returns
for our shareholders.
We remain cautious on the economic outlook as the
market continues to be uncertain and the nature of our business gives us
limited forward visibility. However, as comparators become easier from the
middle of the year and we benefit from a 53rd week, we expect growth to return
this year. As such we will continue to invest in support of our strategy and
our people.'
