Highlights:
First set of reported results for Alent plc, formed on 19 December 2012
A focused leading supplier of specialty chemicals and engineered materials
Assembly Materials outperformed the market
Surface Chemistries impacted by weaker global electronics and European automotive demand
Recommended final dividend of 5.5 pence per share, in line with guidance
Continued investment in future growth of the business
Well placed to make further progress in 2013
Financial results:
|
|
2012 |
2011 |
change |
|
NSV (£m) |
416.7 |
433.3 |
Flat (on a constant currency basis) |
|
Adjusted operating profit (£m) |
97.2 |
94.4 |
3.0% |
|
NSV margin (%) |
23.3 |
21.8 |
1.5ppts |
|
Adjusted profit before tax (£m) |
89.0 |
87.1 |
2.2% |
|
Adjusted earnings per share (pence) |
24.6 |
24.1 |
2.1% |
|
Adjusted cash generated from operations |
86.0 |
93.0 |
(7.5%) |
|
Statutory profit before tax |
73.2 |
94.4 |
|
|
Statutory basic earnings per share (pence) |
16.2 |
27.0 |
|
Commenting on the Group's Results, Steve Corbett, Chief Executive said:
"We completed the demerger of the Performance Materials Division of Cookson Group plc in late December as planned.
"We are pleased to report a resilient set of results that underline Alent's ability to outperform end-markets and deliver profitable growth. We outperformed the underlying end-markets in electronics and held our ground in the difficult automotive and industrial market conditions in Europe. As a result, we have improved our NSV margin on the back of our OEM marketing and selling strategy, continued cost discipline and our continued focus on shifting our product mix from lower margin, more commoditised products, to higher margin proprietary products.
"We believe Alent has a strong foundation from which to build further growth in 2013 and beyond."
