2013 Full Year Results
| 2013 | 2012 | % change | OCC % change | |
| Revenue | £578.4m | £511.7m | +13.0% | +6.3% |
| Adjusted operating profit | £151.4m | £131.9m | +14.8% | +8.5% |
| Adjusted operating margin | 26.2% | 25.8% | +40 bps | +50 bps |
| Profit before tax | £138.0m | £124.2m | +11.1% | +8.8% |
| Adjusted profit before tax | £150.1m | £131.6m | +14.1% | +7.8% |
| Basic earnings per share | 114.8p | 103.1p | +11.3% | +9.0% |
| Adjusted basic earnings per share | 124.9p | 109.3p | +14.3% | +7.9% |
| Full year dividend | 48.05p | 43.00p | +11.7% |
Key Points
Record order intake, revenue and profit in each division
Order intake up 7.3%
Order book at £187.8m, up 3.8% from December 2012
Operating margin increased 40 bps to 26.2%
Sales to oil & gas market up 24%
Continued expansion of product portfolio
Four acquisitions completed in the year
Peter France, Chief Executive, commenting on the results, said:
"Our strategy of expanding our product portfolio, geographic reach and end market exposure has enabled us to deliver another year of record order intake, revenue and profit.
We continue to invest for growth, increasing our international sales network and expanding our product portfolio both organically and by acquisition to strengthen our presence in the wider flow control market.
The global markets that we serve remain active, providing further opportunities for growth, although we recognise that we are likely to experience weakness within some regions due to economic conditions and a headwind from currency. Nevertheless the Board remains confident of achieving further progress in the coming year."
