Organic sales growth of 4%
Record operating margin of 23.8%
Another excellent performance in Watson-Marlow
Robust cash generation, 101% cash conversion
Full Year dividend increased by 10%
Nicholas Anderson, Chief Executive, commenting on the results said:
"I am very pleased with the results delivered in 2016, which again demonstrate the robustness of our strategy and strong direct sales business model. We achieved good organic growth and expanded our margin to a record high, against a backdrop of very low global industrial production growth that improved in the latter part of the year. We increased investment in 2016 and, during 2017, will prioritise accelerating revenue and capital investments for growth over further margin expansion, to ensure we continue outperforming our markets by delivering organic sales growth. Assuming no significant deterioration in trading conditions, the Board expects to make further progress in 2017."
