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| e2v reported net borrowings of £5.2m after the purchase and successful integration of AnaFocus |
e2v technologies plc, announces its results for the year ended 31 March 2015. Bringing life to technology™, e2v partners with its customers to improve, save and protect people’s lives.
Delivering high performance
e2v delivers innovative technology for high performance systems and equipment, leading developments in communications, automation, discovery, healthcare and the environment.
Results
- Good set of results with a steady performance across H1 and H2.
- Adjusted operating profit up 15.6%, reflecting a strengthening of the Group’s operational foundations, reduced costs through reorganization and FX benefit.
- Cash generated from operations of £49.5m. Net borrowings of £5.2m after the purchase and successful integration of AnaFocus.
- 12 month order book growth at 14%, supporting growth plans.
- Full year dividend increased 15.9%.
| Highlights | Year ended 31 March 2015 | Year ended 31 March 2015 |
| £m | £m | |
| Revenue | 224.9 | 217.7 |
| Adjusted¹ operating profit | 40.1 | 34.7 |
| Adjusted¹ profit before tax | 39.0 | 33.6 |
| Profit before tax | 30.1 | 33.1 |
| Net (borrowings)/cash² | (5.2) | 0.8 |
| Adjusted³ earnings per share | 13.68p | 11.73p |
| Earnings per share | 10.94p | 11.59p |
| Dividend per share | 5.1p | 4.4p |
- Adjusted operating profit and adjusted profit before tax are before specific items.
- Net borrowings exclude debt issue costs.
- Adjusted earnings is profit before specific items less tax where applicable.
Commenting on the results, Steve Blair, Group CEO said: “In my first year, I am pleased to report that we are delivering on ‘our vision, our future’. We have continued to focus on our customers and strengthened our operational foundations by further simplifying the business and increasing divisional responsibility and empowerment. We are pleased with the performance of AnaFocus since its acquisition in September and it has already been successfully integrated. Overall, we have delivered a good performance, including a strong finish to the year, in what remained challenging markets.
“Over the forthcoming year our focus will continue to be on our customers, innovation and operating with excellence which, we believe, will enable us to deliver growth. While we remain cautious about the broader economic environment, and assuming no deterioration in market conditions, our outlook for the current financial year remains unchanged.”
