An international group of businesses supplying specialised technical products and services. They operate globally in three distinct sectors - Life Sciences; Seals and Controls. I have a holding in my growth portfolio (epic code: DPLM).
The majority of this growth (12%) was due to businesses acquired during the past year. Eliminating those businesses saw like-for-like revenues at constant currencies increase by 4%, although these revenues were reduced by 2% when the results of the overseas businesses were translated into UK sterling.
Acquisition payments and debt assumed totaled £13.2m in the quarter, so with net cash funds at 31 December 2014 expected to be ~ £14m, compared with £21.3m at 30 September 2014, approximately £5.9m of free cash flow must have been generated. Free cash flow for the whole of last year was £39.6m and for the first quarter £5m.
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