“There are significant growth opportunities for both military & first responder customers, across both the respiratory and ballistic product offerings. The transformed outlook provides us with the ability to continue delivering value to our customers, our people and our shareholders in the future.”

We have a clear strategy to generate long-term earnings growth through maximizing the opportunity from our current portfolio and selective product development to maintain our technology leadership position.

Our strong financial position and cash generation will allow us to enhance the returns from our organic strategy with additional value enhancing acquisitions, whilst maintaining a progressive dividend policy.

Organic sales growth

Through a focus on innovative products designed for global growth markets we target 3%+ per annum constant currency organic revenue growth.

Value enhancing acquisitions

We are targeting carefully selected, value enhancing acquisitions to complement our organic growth.

Attractive EBITDA margins

Using our proprietary product expertise to develop market leading products, we target sustainable EBITDA margins of greater than 20%.

Strong cash generation

Our objective of delivering cash EBITDA conversion of 90% or more provides the cash flow to fund our growth strategy.

Dividend growth

Under our progressive dividend policy, we expect to continue to grow dividends ahead of earnings until we reach a cover of two times adjusted earnings per share.