Highlights of the year ended 31st March 2017
Revenue up 12% to £12,031 million and operating profit up 18% to £493.2 million including translational FX benefit of £721 million and £69 million respectively
At constant rates, sales for continuing businesses grew 3% with underlying PBT up 1%
In H2, at constant rates, sales for continuing businesses grew 6% and underlying operating profit grew 4%
As a result of the restructuring programme announced in 2015/16, costs were reduced by £26 million, primarily in Process Technologies and Fuel Cells
EPS up 21% at 201.2 pence and underlying EPS up 17% at 209.1 pence
Cash flow from operating activities of £523 million and free cash flow of £230 million. Working capital days4 reduced from 56 to 54 days
Capex and R&D spend to drive future growth: capex was £265 million, 1.7 times depreciation, with gross R&D £201 million5, 5.6% of sales
Return on invested capital increased to 18.2% from 17.3%
Strong balance sheet with net debt to EBITDA of 1.1 times (2015/16: 1.2 times)
Recommended final dividend per share of 54.5 pence, up 5% reflecting confidence in group's medium term prospects. Full year dividend per share 75.0p.
