Investors: Year End Summaries

Group Income Statement

Financial year ended:	30 April 2014 £'000	30 April 2015 £'000	30 April 2016 £'000	30 April 2017 £'000	30 April 2018 £'000	30 April 2019 £'000	30 April 2020 £'000	30 April 2021 £'000	30 April 2022 £'000	30 April 2023 £'000
Sales	130,828	127,049	123,539	131,587	124,811	127,046	144,512	131,231	144,108	185,742
Gross Margin	44,818	41,295	34,343	33,751	35,668	40,632	34,769	39,001	42,704	46,221
Operating Profit	24,541	20,447	12,748	9,948	13,580	16,411	12,858	17,094	18,307	20,313
* Trading Profit	24,095	20,053	12,314	9,244	13,300	16,410	12,115	16,514	17,201	18,940
Unrealised Gain on Interest Rate Swap	-	-	-	-	-	-	-	-	2,740	3,189
Profit Before Tax	24,095	20,053	12,314	9,244	13,300	16,410	12,115	16,514	19,941	22,129
Tax	(4,448)	(4,601)	(3,376)	(2,487)	(3,865)	(3,963)	(3,775)	(3,508)	(6,321)	(5,616)
Profit After Tax	19,647	15,452	8,938	6,757	9,435	12,447	8,340	13,006	13,620	16,513
Minority Interests	(612)	(427)	(100)	(675)	(931)	(942)	(474)	(512)	(640)	(609)
Shareholders' Profits	19,035	15,025	8,838	6,082	8,504	11,505	7,866	12,494	12,980	15,904

* Trading profit is defined as the Group pre-tax reported profit less the impact of our interest rate swap valuation.

Group Financial Highlights

Financial year ended:	30th April 2014 £'000	30th April 2015 £'000	30th April 2016 £'000	30th April 2017 £'000	30th April 2018 £'000	30th April 2019 £'000	30th April 2020 £'000	30th April 2021 £'000	30th April 2022 £'000	30th April 2023 £'000
Sales	130,828	127,049	123,539	131,587	124,811	127,046	144,512	131,231	144,108	185,742
*Trading Profit	24,095	20,053	12,314	9,244	13,300	16,410	12,115	16,514	17,201	18,940
Earnings per Share	264.38p	208.68p	122.75p	84.47p	118.11p	159.79p	107.93p	167.82p	169.14p	206.81
Return on Capital Employed	32.18%	22.43%	12.08%	8.61%	12.59%	13.19%	10.44%	13.14%	12.68%	12.90%
Dividends Proposed	3,049	3,049	3,049	3,049	6,010	6,927	6,016	7,862	8,289	8,636
Totals Assets	128,739	139,492	158,235	156,947	157,642	189,440	192,274	202,411	218,981	262,833
Shareholders' Funds	73,590	82,741	86,294	89,436	99,568	105,165	105,017	113,141	115,310	124,747

* Trading profit is defined as the Group pre-tax reported profit less the impact of our interest rate swap valuation.

Group Cashflow Summaries

Financial year ended:	30th April 2014 £'000	30th April 2015 £'000	30th April 2016 £'000	30th April 2017 £'000	30th April 2018 £'000	30th April 2019 £'000	30th April 2020 £'000	30th April 2021 £'000	30th April 2022 £'000	30th April 2023 £'000
Funds Generated from Operating Profits	28,672	25,943	17,820	16,440	19,694	24,841	20,970	24,843	25,045	29,777
Decrease/(Increase) in Working Capital Requirement	5,998	(2,277)	(4,115)	(7,563)	15,862	(9,956)	1,540	168	(3,742)	4,541
Cash Generated from Operations	34,670	23,666	13,705	8,877	35,556	14,885	22,510	25,011	21,303	34,318
Interest Paid	(845)	(733)	(723)	(917)	(754)	(588)	(844)	(734)	(1,258)	(1,940)
Corporation Tax Paid	(4,688)	(4,904)	(3,058)	(2,675)	(3,703)	(3,093)	(2,493)	(3,068)	(2,051)	(3,251)
Net Cash from Operating Activities	29,137	18,029	9,924	5,285	31,099	11,204	19,173	21,209	17,994	29,127
Investment in Fixed Assets and Subsidiaries	(15,121)	(20,962)	(14,680)	(8,114)	(10,393)	(14,963)	(8,966)	(11,919)	(18,091)	(20,524)
Net Loan (Repayments) / Proceeds	(8,892)	7,551	(69)	4,897	(12,909)	7,850	6,195	2,641	4,866	8,564
Issue of Shares	-	-	-	-	-	-	16	17	16	-
Dividends Paid	(4,034)	(3,147)	(3,301)	(3,786)	(3,137)	(6,577)	(6,927)	(6,141)	(8,670)	(8,289)
Net inc. / (dec.) in Cash and Cash Equivalents	1,090	1,481	(8,126)	(1,718)	4,660	(2,486)	9,491	5,807	(3,885)	8,322

Group Balance Sheet Summaries

Financial year ended:	30 April 2014 £'000	30 April 2015 £'000	30 April 2016 £'000	30 April 2017 £'000	30 April 2018 £'000	30 April 2019 £'000	30 April 2020 £'000	30 April 2021 £'000	30 April 2022 £'000	30 April 2023 £'000
Fixed Assets	44,096	55,659	62,530	65,739	69,154	74,106	74,969	80,754	93,785	108,005
Investment in Associates	1,193	1,477	1,640	2,045	1,963	739	816	829	896	964
Intangible Assets	10,634	10,865	17,565	18,240	21,138	22,354	24,695	24,813	24,817	25,448
Trade and Other Receivables					728	505	1,001	191	3.932	5,932
Non-current Assets	55,923	68,001	81,735	86,024	92,983	97,704	101,481	106,587	123,430	140,350

Current Assets	72,816	71,491	76,500	70,923	64,659	91,736	90,793	95,824	95,551	122,483
Current Liabilities	(40,479)	(32,066)	(46,393)	(36,670)	(42,752)	(58,055)	(63,476)	(45,492)	(49,257)	(74,811)
Net Current Assets	32,337	39,425	30,107	34,253	21,907	33,681	27,317	50,332	46,294	47,672

Long Term Liabilities	(7,821)	(17,446)	(18,676)	(23,980)	(6,104)	(20,718)	(16,125)	(33,317)	(42,270)	(47,502)
Deferred Tax	(2,869)	(3,458)	(3,049)	(2,636)	(3,959)	(1,376)	(3,071)	(5,574)	(7,711)	(11,363)
Net Worth	77,570	86,522	90,117	93,661	104,827	109,291	109,602	118,028	119,743	129,157

Share Capital	720	720	720	720	720	720	736	753	769	769
Reserves	72,870	82,021	85,574	88,716	98,848	104,445	104,281	112,388	114,541	123,978
Shareholders Funds	73,590	82,741	86,294	89,436	99,568	105,165	105,017	113,141	115,310	124,747
Non-controlling Interests	3,980	3,781	3,823	4,225	5,259	4,126	4,585	4,887	4,433	4,410
Total Equity	77,570	86,522	90,117	93,661	104,827	109,291	109,602	118,028	119,743	129,157

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