Adjusted operating profit has increased by 1.1% to £18.5million. Adjusted profit before tax has risen by 3.4% to £15million.
Net debt has been reduced tp £49.7million (£59.5million in 2010). Net finance costs have been reduced to £3.5million (£3.8million in 2010) .
Adjusted fully diluted earnings per share are up by 2.4% at 4.2p. The final dividend proposed is 0.67p, an increase of 21.8%. This makes it 1.0p for the full year.
Executive chairman John Talbot said he was pleased with these results given the very difficult market conditions. The three divisions all achieved good operating profits – particularly facilities management which showed a 13.9% increase. The group had significantly reduced net debt and secured renewed bank facilities with sufficient headroom to make strategic bolt-on acquisitions.
He added: ”Although market conditions are not expected to improve in 2012, we are investing for the future. Since the end of the year we have announced an acquisition in facilities management and a conditional exchange of contracts for a significant acquisition for our textile rental division.
“The board expects to achieve a satisfactory result in 2012.”
