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Financial highlights

Revenue (£'m)

£589.3

2021 589.3
2020 469.5
2019 541.8
2018 491
2017 430.2

Adjusted EBITDA (£'m)

£107.1

2021 107.1
2020 57.6
2019 103.9
2018 80.8
2017 67.9

Profit before tax (£'m) - before adjusting items

£72.1

2021 72.1
2020 22.5
2019 69.9
2018 62.9
2017 52.1

Basic EPS (p) - before adjusting items

28.6

2021 28.6
2020 8.6
2019 29.4
2018 26.3
2017 21.5

Return on capital employed (%) - before adjusting items

20.6

2021 20.6
2020 8.2
2019 21.4
2018 21.9
2017 20.8

Net debt (£'m) - reported basis

£(41.1)

2021 (41.1)
2020 (75.6)
2019 (60)
2018 (37.4)
2017 (24.3)

Operational highlights

  • Strong trading in first two months of 2022 - healthy order books 
  • Continued focus on customer service and satisfying increased demand
  • Proactive supply chain management to mitigate raw material shotages and cost inflation
  • Focus on flexibility within manufacturing and logistics and short-term labour availability
  • Sustained emphasis on growth opportunities arising from ESG leadership
  • Capital investment of £35 million planned for 2022 - construction of St Ives on track
  • Priority given to health and safety
Financial Highlights
  • Record sales and adjusted profitability
  • Full-year revenue of £589.3 million (2020: £469.5 million; 2019: £541.8 million) - up 26% on 2020 and 9% on 2019
  • Adjusted EBITDA of £107.1 million (2020: £57.6 million; 2019: £103.9 million)
  • Adjusted profit before tax up 3% against 2019 at £72.1 million (up 221% on 2020)
 
  • Profit before tac on a statutory basis was £69.3 million (2020: £4.7 million; 2019: £69.9 million)
  • Net debt of £41.1 million (2020: £75.6 million). Pre-IFRS 16 net positive cash of £0.1 million 
  • Strong balance sheet with a flexible capital structure and a clear capital allocation policy
  • Recovery in adjusted ROCE of 20.6% (2020: 8.2%; 2019: 21.4%)
  • Porposed final dividend of 9.6 pence giving rise to a total dividend for the year of 14.3 pence
 

Annual and Interim Reports