As anticipated, sales growth was reduced by the factors reported at the interim stage, including African Swine Flu in China and challenging trading in the Middle East and Latin America. However, costs have been closely managed without impeding strategic development plans.
Continuing strong performances in the USA, Europe and Australasia, assisted by progressive market fundamentals and the benefits of development initiatives implemented this year, are expected to support a return to sales growth in 2019.
The balance sheet remains strong with cash balances of £12.9m (2017: £13.6m) at the year-end.