I am truly proud of the Group s achievements over the period. We not only secured major new partnerships, brought the Oxbox manufacturing facility online in record time and responded to the challenges of the pandemic, but the team has also been able to rapidly work with AstraZeneca to provide a vaccine solution for COVID-19. This is a true testament to the world-class calibre and dedication of our staff in the year that the Group also gained entry to the FTSE250. Looking to the future, with the continued tide of growth in cell and gene therapy, coupled with the Group s leadership position in the lentiviral vector field, we are well positioned to advance both our own proprietary pipeline and that of our current and future partners programmes.
· Strong H2 performance, gaining momentum: o Revenues up 4% on H2 2019 o H2 2020 underlying operating profit £11.2 million (H2 2019 £11.8 million) · RMI demand quicker to return and stronger than newbuild and social housing · Robust financial position maintained: o Strong cash generation o Significant headroom in banking facilities of over £50 million at the year end, facilities now extended to June 2024 o All pre-COVID banking covenants met with no variation or waivers o No additional funding has been sought from shareholders or banks · Recommencement of dividend payments, with proposed final dividend of 1.00 penny per share · Health and safety prioritised in response to the COVID-19 pandemic