Highlights

Our Financial Performance

Another year of substantial profit growth, well positioned for further progress
  • Revenue up 13% to £388.7m (2010: £344.6m)
  • Profit before tax* up 26% to £23.4m (2010: £18.6m)
  • Operating margin* increased to 7.9% (2010: 7.5%)
  • Return on capital improved to 16.8% (2010: 15.2%)
  • * Continuing operations before tax, amortisation and non-recurring items.
Strong and flexible financial position
  • Increased capital expenditure to expand production capacity
  • Funding in place to support further investment
Full year dividend increased to 2.1p (2010: 1.6p)

Sales*

up 13% at £388.7m

(2010: £344.6m)

Sales* growth up 13% at 344.6m(2009: £304.8m)
* Continuing operations.

Profit*

up 26% at £23.4m

(2010: £18.6m)

Profit* growth up 18% at 18.6m (2009: £15.8m)

* Continuing operations
   before tax, amortisation and
   non-recurring items.

Operational Highlights

Significant growth in sales
  • Sales volumes increased by 6%
  • Increased contribution from high-growth emerging markets
  • Successful product innovation, with a record 15.8% of sales from
    new products
Continued improvement in operating margins
  • Operating margins grew despite tougher raw material prices
  • Successful pass through of higher input costs
  • Yarns business now profitable with further benefits from restructuring
    expected in 2012
  • New initiatives in procurement and operating efficiencies to augment margin progress

Designed and developed by Emperor Design