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2015 RESULTS HIGHLIGHTS
• All difficulties in one major fixed-price development project resolved;
• Won a £4m contract to develop a Customs Compliance Management Information System for the UK Ministry of Defence;
• Secured an EU-funded contract from Thales Alenia Space France valued at over €5m for the Galileo Ground Mission Segment;
• Appointed as the supplier for the Second Large Scale Framework Agreement for the BBC’s Audio Edit and Playout Systems across radio divisions using our dira! product;
• Revenues of £36.1m (2014: £40.4m) – 4% lower at constant currency;
• Earnings per share of 1.3p (2014: 7.7p) – reflecting impact of problem contract;
• Operating profit fell to £0.8m (2014: £3.2m);
• Reinstatement of dividends and proposed full year dividend of 1.78p (2014: 1.61p) (subject to shareholder approval at the AGM);
• 2016 opening order book of £37.2m (2015: £30.3m).
KEY PERFORMANCE INDICATORS
Measuring our progress against
our strategic goals
The 2015 target was to increase growth by 3% per annum, but revenues were down by £4.3m.
The target was to achieve 8% adjusted operating profit by end of 2015 – the actual margin achieved was 2.2%.
Adjusted Profit Margin
Operating Profit Margin
Please refer to the CEO’s Review on pages 6 to 9 and to the Finance Director’s report on pages 18 to 19 for a detailed explanation of all of the above.
* subject to shareholder approval at the AGM