Financial highlights



Gross profit


Underlying operating result*


Operating profit


Total dividend



Final Dividend 3.67p

Interim Dividend 1.84p

Net debt



2015: £9.0m

2014: £6.7m

* Before separately disclosed items which are shown in the financial statements

Operational highlights

  • Revenue growth of 20% on previous year
  • Underlying operating profit growth of 9.5% on previous year
  • Operating profit margin 11.4%
  • Gross margin has increased 130bps
  • Gross margins maintained despite negative currency pressures
  • Three acquisitions in 2016 in line with strategy, with another already completed in 2017
  • New Process division established
  • Nick Fossey appointed as first "Divisional Director"
  • Investment in people, infrastructure and IT to support future growth
Our business has shown resilience in a difficult market, with our most recent acquisitions beginning to deliver growth. The Board remains confident in the strategy, commercial opportunities and the prospects of the Group as a whole, and expects to deliver further solid growth over the coming years building on the performance seen in 2016.

Malcolm Diamond MBE