Strong cash generation in the period:
o Cash generated from operations was $455.7m (2015: $288.7m) representing 87.8% (2015: 110.6%) of Adjusted EBITDA less exceptional costs with second half cash generated from operations of $293.7m, 113.4% of Adjusted EBITDA less exceptional costs.
o Free cash flow**** of $238.1m (2015: $173.7m).
o Net debt at 30 April 2016 reduced to $1,078.0m (30 April 2015: $1,403.5m) benefiting from the net proceeds of $222.7m from the share placing announced on 22 March 2016. The Serena acquisition completed on 2 May 2016 with resulting increase in pro-forma net debt to $1,625.0m.
o Net debt to pro-forma Facility EBITDA** for the year to 30 April 2016 is a multiple of 1.90 times, increasing to 2.51 times on a pro-forma basis including the acquisition of Serena Software Inc.; target remains 2.5 times.
Proposed final dividend increased by 50.7% to 49.74 cents per share (2015: 33.00 cents per share) resulting in full year dividend of 66.68 cents per share (2015: 48.40 cents per share).
