In what has been an extraordinary year, we have made excellent progress towards our strategic goals, including new contract wins that will transform our scale and competitive position, and the acquisition of Bertrams, which is an important first step towards diversifying the Group.
The Group continued to generate a strong cash flow of £23.7m
Total dividend for the year of 6.8p represents an increase of 1.5%
In August we took responsibility for 20 depots and associated staff from Dawson News, bringing forward the implementation of our contract wins. The transfer has been implemented with the high standard of service for which we are known. As a consequence, the business finishes the year materially stronger, with new opportunities for growth and diversification.
I am pleased to report a solid financial performance in difficult market conditions. Underlying profit before tax of £30.5m decreased by 6.2%, a reflection of the tough market conditions in newspapers and magazines. The Group continued to generate a strong cash flow of £23.7m. Total dividend for the year of 6.8p represents an increase of 1.5%.
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Share Price
96.50p [+1.25p] at 01:29am on 08 Feb 2012