Fenner 2017 final results
Significantly improved results as the Group moves from recovery towards sustainable growth
Underlying profit before taxation of £45.3m (up 95%) and underlying earnings per share of 17.7p (up 111%)
Free cash flow of £69.0m (up 78%); net debt of £101.5m (2016: £150.0m), representing 1.2 times EBITDA
AEP like-for-like revenue up by 11%; underlying operating profit of £43.9m (up 29% at constant currencies)
ECS underlying operating profit of £24.1m (up 46% at constant currencies)
Significant increases in underlying operating margins; AEP 14.9% (+2.7 pcp), ECS 6.7% (+2.2 pcp) and Group 9.0% (+2.3 pcp)
Increased final dividend of 2.8p (up 40%) making total dividend for the year of 4.2p
