We are delighted to report a very strong performance for 2016/17.
Sales and profit have grown significantly both organically and through acquisition. Foreign exchange movements have further added to this growth with underlying profit before tax for the year up 51% in total to £16.3 million. Cash flow generated from operations was up 52% to £31.5 million allowing the Group to close the year with net cash of £3 million, its strongest position for over a decade.
It is particularly encouraging to again see the effect of our diversified portfolio at work with solid foundations for further growth and product diversification built in Australia and the UK while our businesses in the USA and Europe delivered excellent growth to both sales and profitability while simultaneously laying the groundwork to maintain momentum.