FINANCIAL HIGHLIGHTS:
• Revenue growth of 8% to £134.3m
• Operating profit growth of 19% and profit before tax increased 20%
• Return on sales (EBITDA divided by revenue) improved 2% from 18% to 20%
• Diluted earnings per share increased 29%
• 119% conversion of operating profit to operating cash
• Dividend of 7.29p per share increased 30%
OPERATIONAL HIGHLIGHTS:
• Acquisition of InterPuls and Hudstar
• Strong DOD sales, excellent year at AEF and continued commercial progress
• Market share growth of Impulse Air to 25% in the US
• Cluster Exchange servicing 430,000 cows on 1,262 farms across US and Europe
