He says “growth organically has been reasonable in difficult markets but we’ve managed to maintain operating margins and that has really boosted profitability”.
The chief executive also notes that Acal’s magnetics division had a strong year in 2015, with acquisitions made over the last three years “all performing well”.
Brexit has kept consumer confidence in the UK and Europe low, Jefferies says, but notes the company is built for long-term growth. His aim is to grow the company even when the market is difficult, which he says is “exactly what’s happening”.
“The business is performing, it’s very solid, it has relatively stable revenue patterns and we just need to keep on doing what we do, keep pushing it, keep developing it, keep buying good complimentary businesses where we can get sales and operating synergies, and it will keep driving shareholder value” Jefferies says.
#ACL ACAL - profits,sales, margins, divis all up, excellent progress/well positioned....(1st glance)...— DG (@Soundbuy) June 1, 2016