The Group delivered a strong performance for 2011 with double digit revenue growth, an increased margin and strong cash generation. Alexander Proudfoot benefited from an increased workload for clients in the natural resources sector and Kurt Salmon has grown revenues in its key markets. We have seen a resilient performance in our established geographic markets and a robust result from emerging markets.
- Revenue up 12% to £302.6m (2010: £270.4m)
- Operating profit up 42% to £25.5m (2010: £18.0m)
- Underlying* operating profit up 22% to £28.3m (2010: £23.3m)
- Underlying* operating margin higher at 9.4% (2010: 8.6%)
- Profit for the year increased by 78% to £16.4m (2010: £9.2m)
- Cash generated by operations increased by 90% to £32.5m (2010: £17.1m)
- Net debt reduced by 48% to £28.2m (2010: £54.4m)
- Underlying* EPS up 14% to 3.8p (2010: 3.5p). Basic EPS up 54% to 3.7p (2010: 2.4p)
- Total dividend increased 67% to 0.75p per share (2010: 0.45p per share)
