Highlights
Encouraging revenue growth, 4% at constant exchange rates
Further increase in headline operating profit (9% at constant exchange rates)
Headline margin up 90 basis points
Return on capital employed increased 80 basis points to 20.7%
Net cash of £35.7m
Final ordinary dividend of 9.8p, 14.4p for the year, up 7%
Special dividend of 20.0p
Commenting, Stephen Harris, Chief Executive said:
"The Group delivered another good performance in 2014. Revenue, at constant exchange rates, was ahead 4% and we achieved further improvement in margin and return on capital employed, in addition to strong cash generation.
As we begin 2015 a number of macro-economic uncertainties persist. Nevertheless, at this early stage in the year, the Board believes that the strength of the Group's Specialist Technologies and management's continued focus on business improvement, particularly in the Classical Heat Treatment business, should enable further progress in 2015."
