Continental European revenues decrease by 8.3% on a like for like basis.

Cash generated from operations increased by 59.2% to £43.7m.

Revenue for the year was £533.8m, down 4.2% from £557.3m in 2008.

Profit before tax fell 45% to £22m.

Basic earnings per share were 19.1p, down 45% from 34.5p. Dividend per share was cut by 44.2% to 11p, down from 19.7p. Dividend cover ratio was consistent with 2008 at 1.7 times

Tony Brewer, Group CEO, said: 'Following a more positive end to 2009, we are optimistic about a return to growth in 2010. However, market conditions, particularly in the UK, continue to be challenging, which has made normal seasonal trends and predictability difficult to establish.

'Notwithstanding the current uncertainty, we believe the management and structure is in place to enable us to continue out-performing the market and take advantage of any improvement in the economy.'

Story provided by Business Financial Newswire