|
The Weir Group PLC Preliminary Results 2007. Highlights of results for 52 weeks ended 28 December 2007.
- Revenue up 22% to £1060.6m
- Operating profit1 up 57% to £122.1m
- Profit before tax1 up 56% to £120.2m
- Earnings per share1 up 49% to 41.4p
- Dividend increase of 14% to 16.5p
- Cash generation improved significantly to £151.8m
- SPM acquired, integrated and exceeding year one expectations
- Secured acquisition of CH Warman for £113m2
1 Adjusted to exclude intangibles amortisation and exceptional items.
2 Using a US $ / £ exchange rate of 2.05 as at 3 December 2007. In 2007, Weir enjoyed its best operating year in company history delivering record sales, earnings and cash flow generation. During the year we realigned the portfolio of businesses, significantly improved operational performance and added high quality businesses to the Group.
We enter 2008 with an even more robust portfolio of businesses operating in longer cycle end markets, a healthy balance sheet and cash generation. We have the necessary flexibility to fund organic growth and pursue aligned acquisitions and are confident of further progress in 2008. Sir Robert Smith Chairman's statement, Preliminary Results 2007 |