For the year ended 30th June 2016, Waterman generated revenue of 拢91.3m (2015: 拢83.9m) and profit before tax of 拢4.3m (2015: 拢3.4m).
The board had previously set targets for the three years to 30th June 2016 of making 拢3.3m pre-tax profit and increasing return on capital employed to more than 20%. On the latter count, it delivered 47% in the past year.
Chief executive Nick Taylor said: 鈥淲aterman is in excellent shape, having reported results which exceed its previously declared financial objectives.鈥�
He said: 鈥淥ver the last three years, the group has delivered a six times increase in the annual dividend paid to shareholders to 3.0p from 0.5p and during the same period, after paying shareholders dividends of 拢1.4m, net funds have increased to 拢5.5m from 拢1.1m.
鈥淥ur future aspiration remains to improve the group鈥檚 adjusted operating profit margin towards 6% over the next three years and to continue to increase our dividend payout consistent with the cash generative nature of the business.鈥�
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