Key developments:
· Good growth in profits, returns and dividends;
· Vision 2020 strategy well progressed with the acquisition of Ace Corporation successfully completed in June 2014 and continued with the announcement of the expected acquisition of the Promens Group;
· Revenues grew 12% reflecting contribution from recent acquisitions and an increase in like-for-like sales of 4%;
· Adjusted operating profit reached £60.9m (2013: £47.1m) and Adjusted basic EPS increased by 19% to 22.8p (2013: 19.1p) with a significant contribution from recent acquisitions;
· Return on Sales improved to 10.3% and Return on Net Operating Assets (RONOA) at 24.1%;
· Good cash generation with net cash flow from operating activities of £42.4m (2013: £51.1m);
· 'Fitter for the Future' business optimisation nearing completion with three non-core businesses disposed of in the period;
· Interim dividend of 5.0p (2013: 4.5p).
