Key Performance Indicators

The Group's adjusted EPS from continuing operations increased by 8.5%.

Strategic AimKPIFY2014FY2013Explanation narrative
Fit for purpose
Lost time accidents per 100,000 hours
The Group reviews lost time accidents per 100,000 hours as a key measure of health and safety performance.
0.310.32Lost time accidents per 100,000 hours remained flat year on year.
The safety and well-being of our staff and all visitors to our facilities remains a top priority for everyone within the business.
Health and safety is critical to the continued operation of a fit for purpose business.
Sales per employee
The Group reviews the level of sales it achieves against its headcount to demonstrate ongoing cost efficiency is maintained alongside current growth and expansion plans.
152.2152.1Revenue per employee is slightly up at £152.2k as average headcount has increased from 625 to 657 in the year, in line with the revenue increase of £5.0m.
In addition to growing our revenues we have invested in indirect staff to support product development.
New Product Portfolio To Drive Revenue rowth
New products (development portfolio)
The Group maintains a portfolio of opportunities and monitors their progression towards commercial launch.
99The current development portfolio now includes 9 items as a result of the following changes during the year:
  • removal of INJ300, following the successful launch of the auto-injector confirming the Group's capabilities in the injectables market;
  • the termination of NAS010 by the customer;
  • the award of the NAS030 development contract, the first programme to be awarded based on a patent protected device invented and developed entirely by the Innovation Team in Cambridge; and
  • the award of the INJ600 development contract for a novel PatchPump® infusion device for parenteral delivery of liquid drugs. The award is significant in validation of our expertise and growing presence in the injectables sector.
Diversification Into Adjacent -Markets And Territories 2014
Market diversification (revenue from non-MDI products)
Revenue from non-MDI products is reviewed to assess the extent to which the Group has diversified revenues from the core respiratory MDI business.
£42.1m£35.1mRevenue from non-MDI products has increased by £7.0m in the current year as a result of the growing dry powder inhaler business highlighted by the launch of the Chiesi NEXThaler® and the commercial supply contract for DEV610 and an increase in revenue from other sources including nicotine delivery and injectables.
Higher Value Business Models 2014
Growth and investment (operating cash flow)
The Group reviews operating cash flow (defined as cash from operations less capital expenditure) as a percentage of operation profit before special items to understand the relationship between trading, cash and capital investment.
16.1%101.9%In the current year the Group's conversion of operating profit into cash inflows has reduced to 16.1% as a function of the significant capital investment made in respect of the DEV200 and DEV610 programmes as we invest in future growth opportunities.
Enhancement
Shareholder value
The Group reviews EPS from continuing operations before special items to assess the level of return generated for investors in the period.
48.3p44.5pThe Group's adjusted EPS from continuing operations increased by 8.5% in the year reflecting an increased return for shareholders driven by the organic growth in the Group's operating profit performance and the reduced interest charges following the settlement of the debt post the disposal of King Systems.