Business
Full year results
Full year results.
About this update from Morgan Advanced Materials Plc
[{"type":"text","content":"\n RNS Number : 3192H Morgan Crucible Co PLC 18 February 2010 \n \n\n \n \n \n \nFULL YEAR RESULTS FOR THE PERIOD ENDED 3 JANUARY 2010\n \nSummary\n \n· Revenue for the full year increased to £942.6 million (2008: £835.0 million) up 12.9% on 2008. \n \n· Group EBITA before restructuring charges and one-off items was £89.0 million (2008: £108.8 million) delivering a margin of 9.4% (2008: 13.0%). Second half margins were 9.7% (H1 2009: 9.2%), reflecting the benefit of significant cost reductions taken early in the year.\n \n· NP Aerospace, in which we increased our equity stake from 49% to 60% at the beginning of 2009, performed very strongly with revenues at £186.2 million (2008: £72.0 million), an increase of 159% on the previous year.\n \n· Net cash flow from operations increased substantially to £134.5 million (2008: £111.2 million) up 21% on the previous year and the free cash inflow before one-off items was £85.9 million (2008: £34.7 million).\n \n· Net debt reduced by £37.7 million to £252.7 million during 2009 (2008 year end: £290.4 million) and the net debt to EBITDA ratio was maintained at 2.1 times.\n \n· Final dividend maintained at last year's level at 4.5 pence, giving a full year dividend of 7.0 pence.\n \n\n\n\n\n£m unless otherwise stated\n\n\n\n\n\n \n 2009\n\n\n\n2008\n\n\nChange\n\n\n\n\nRevenue\n\n\n\n\n\n942.6\n\n\n835.0\n\n\n+12.9%\n\n\n\n\nGroup EBITA~\n\n\n\n\n\n89.0\n\n\n108.8\n\n\n-18.2%\n\n\n\n\nUnderlying operating profit++\n\n\n\n\n\n77.0\n\n\n98.2\n\n\n-21.6%\n\n\n\n\nUnderlying PBT*\n\n\n\n\n\n47.7\n\n\n86.7\n\n\n-45.0%\n\n\n\n\nUnderlying EPS** (pence)\n\n\n\n\n\n13.2p\n\n\n23.4p\n\n\n-43.6%\n\n\n\n\nNet cash inflow from operating activities\n\n\n\n\n\n134.5\n\n\n111.2\n\n\n+21.0%\n\n\n\n\nBasic EPS (pence)\n\n\n\n\n\n7.1p\n\n\n22.2p\n\n\n\n\n\n\n\nOperating profit\n\n\n\n\n\n60.7\n\n\n95.0\n\n\n\n\n\n\n\nProfit before ta...