milkrite | InterPuls growth momentum across all lines of business following a strong Interface recovery in the second half of the year.
Revenue increased by 0.8% to £49.8m (2017: £49.4m); excluding the impact of unfavourable currency movements revenue grew 4.3% on a constant currency basis.
On a constant currency basis, Interface grew revenue by 2.9%, PCI by 1.9% and Farm Services by 19.8%. The growth trends reflect the continuing stable global dairy market conditions and the improved trading conditions in North America in the second half of the year.
Adjusted operating profit and adjusted EBITDA were both flat at £8.0m (2017: £8.0m) and £10.9m (2017: £10.9m) respectively, with constant currency growth of 6.7% and 5.2% respectively being offset by unfavourable currency movements. The adjusted EBITDA margin of 21.9% (2017: 22.1%) increased by 0.2% on a constant currency basis.