|Investing for growth||Recovery to sustainable growth|
|Underlying operating profit*||£24.2m||£22.7m||£21.0m||£16.8m||£15.27m|
|Underlying operating profit margin*||11.6%||11.5%||11.3%||10.4%||9.9%|
|Operating profit margin||8.2%||9.6%||9.6%||8.6%||8.3%|
|Underlying ROCE %*||18.8%||20.1%||19.9%||18.5%||18.6%|
|Dividend per share||4.25p||3.85p||3.50p||2.80p||2.10p|
|Dividend increase %||10.4%||10.0%||25.0%||33.3%||50%|
|Underlying diluted EPS*||14.55p||13.78p||12.82p||9.99p||8.68p|
|Underlying cash conversion % of underlying EBITDA*||64.9%||68.1%||97.3%||88.9%||50.2%|
|Share price at 31 March||193.50p||255p||211p||127p||103p|
* Before separately disclosed items
Since 2016, the business has been carefully investing in plant & machinery to increase capacity & efficiency as well as into key personnel and processes to capitalise upon the opportunities for growth globally.
Project Atlas is a significant planned investment into the integration and development of the Group’s business platform and underlying processes. This project is considered an essential part of our ongoing growth plans, both organic and acquisitive, and will allow us to continue to meet the evolving needs of our multinational OEM customers.
The four key drivers for this investment are: