Final Results
Highlights
Financial:
· Revenue from continuing operations of £520.2 million, up 6% on 2011
· Underlying profit before tax(i) of £60.7 million, up 17%
· Profit before tax from continuing operations £45.1 million, up 54%
· Improvement in operating margin to 13.1% (2011, 11.9%)
· Full year underlying earnings per share(i) of 19.1 pence, up 18%
· Statutory basic earnings per share 17.5 pence (2011, (44.8) pence)
· Final dividend per share declared of 6.6 pence (2011, 5.3 pence). Total 2012 dividend of 10.0 pence, in-line with previously announced dividend recommendations (2011, 8.0 pence)
· Cash conversion of 109% (2011, 104%)
Operational:
· Additional capacity on stream to meet strong demand for tablets and smartphones
· Strong margin improvement from new products, vertical integration, withdrawal from low margin business and operating efficiencies
· Major Telematics automotive long-term contracts won for H2 2014