Momentum in Military order intake and international growth in Law Enforcement underpins confidence in 2019.
Growth in orders received to £124.6m (2017: £116.0m) delivered an increase in revenue of 5.4% to £115.7m (2017: £109.8m). On a constant currency basis, revenue grew by 10.6% with Military revenue growing by 8.0%, strong 28.1% growth in Law Enforcement and Fire declining by 10.0%, reflecting a more challenging Fire market.
Adjusted operating profit grew by 7.0% to £21.5m (2017: £20.1m). Eliminating the impact of currency movements, adjusted operating profit grew by 13.4% on a constant currency basis.
Our adjusted EBITDA margin declined to 23.0% (2017: 24.4%), being a reduction of 1.1% on a constant currency basis, primarily reflecting product mix with a higher volume of M50 mask systems shipped in 2018 compared to last year. Adjusted EBITDA was £26.6m (2017: £26.8m); eliminating the impact of currency movements, adjusted EBITDA grew by 5.3% at constant currency.