Slide 1: Interim Announcement: Six months ended 31 March 2011
| 17 May 2011 Interim Announcement Six months ended 31 March 2011 ____________________________________________________________________________________________________________________________________________________ l
Slide 2: Table of Contents
______________________________________________________________________________________________________________________________________________ Table of Contents Slide I Overview of Results 3 II Review of Operations 6 III Financial Highlights 13 IV Outlook and Prospects 20 l 2
Slide 3: I Overview of Results
I Overview of Results ______________________________________________________________________________________________________________________________________________ l 3
Slide 4: Overview of Results
______________________________________________________________________________________________________________________________________________ Overview of Results Six months ended 31 March 2011 2010 Revenue £112.6m £86.2m +31% Adjusted operating profit £22.1m £14.6m +51% Adjusted operating margin 19
Slide 5: Overview of Results
______________________________________________________________________________________________________________________________________________ Overview of Results • Revenues increased by 31% to £112.6m as strengthening trends in 2010 continued into 2011 • Adjusted operating profit increased by 51% t
Slide 6: II Review of Operations
II Review of Operations ____________________________________________________________________________________________________________________________________________ l 6
Slide 7: Life Sciences – Overview
______________________________________________________________________________________________________________________________________________ Life Sciences – Overview Suppliers of consumables, instrumentation and related services to clinical, environmental and industrial applications Six months end
Slide 8: Life Sciences – Half Year Highlights
______________________________________________________________________________________________________________________________________________ Life Sciences – Half Year Highlights • DCHI Group increased revenues by 35%; underlying growth of 13% • Strong capital sales across the businesses: - Histolo
Slide 9: Seals – Overview
______________________________________________________________________________________________________________________________________________ Seals – Overview Suppliers of hydraulic seals, rubber products, gaskets, cylinders and attachment kits for heavy mobile and industrial machinery Six months e
Slide 10: Seals – Half Year Highlights
______________________________________________________________________________________________________________________________________________ Seals – Half Year Highlights • The Aftermarket businesses saw strong growth with revenues 30% ahead of prior year and also ahead of 2008 peak levels • Market
Slide 11: Controls – Overview
______________________________________________________________________________________________________________________________________________ Controls – Overview Suppliers of specialised wiring, connectors, fasteners and control devices for a range of technically demanding applications Six months e
Slide 12: Controls – Half Year Highlights
______________________________________________________________________________________________________________________________________________ Controls – Half Year Highlights • UK Controls improved revenues by 21%: - Good growth in Civil Aerospace, Motorsport and Energy - Strong performance in Gener
Slide 13: III Financial Highlights
III Financial Highlights ____________________________________________________________________________________________________________________________________________ l 13
Slide 14: Profit Before Tax
______________________________________________________________________________________________________________________________________________ Profit Before Tax Six months ended 31 March 2011 2010 £m £m Revenue 112.6 86.2 +31% Adjusted operating profit 22.1 14.6 +51% Operating margin 19.6% 16.9% Net
Slide 15: Underlying Results
______________________________________________________________________________________________________________________________________________ Underlying Results Adjusted Revenue operating profit £m £m As reported 112.6 22.1 Forex - translation (0.8) (0.3) - transaction - - 111.8 21.8 Acquisitions -
Slide 16: Profit After Tax
______________________________________________________________________________________________________________________________________________ Profit After Tax Six months ended 31 March 2011 2010 £m £m Adjusted profit before tax 21.9 14.6 IFRS taxation (6.1) (4.2) Adjustments (0.3) (0.2) Adjusted ta
Slide 17: Free Cash Flow
______________________________________________________________________________________________________________________________________________ Free Cash Flow Six months ended 31 March 2011 2010 £m £m Operating profit 22.1 14.6 Depreciation 1.0 1.0 Working capital (8.8) 0.3 Pension and share schemes,
Slide 18: Net (Debt)/Cash Funds
______________________________________________________________________________________________________________________________________________ Net (Debt)/Cash Funds Six months ended 31 March 2011 2010 £m £m Free cash flow 7.3 16.6 Free cash flow - discontinued - (0.7) Acquisition cash paid (26.5) (2
Slide 19: Shareholders' Funds
______________________________________________________________________________________________________________________________________________ Shareholders’ Funds 31 Mar 30 Sept 2011 2010 £m £m Goodwill 89.8 67.3 Acquisition intangible assets 30.2 22.7 Tangible assets 11.7 11.7 131.7 101.7 Net worki
Slide 20: IV Outlook and Prospects
IV Outlook and Prospects ___________________________________________________________________________________________________________________________________________ l 20
Slide 21: Outlook and Prospects
______________________________________________________________________________________________________________________________________________ Outlook and Prospects • Strong underlying revenue and profit performance continuing into second half; although comparatives are now becoming more demanding •