Full Year 2019 Tyman PLC Earnings Call Transcript
I note the time, 9:30. Welcome, everyone, including those of you joining via webcast this morning. Thank you for joining Jason and me today for Tyman's full year results presentation. We'll start by taking you through the slides, covering our progress in 2019 as well as an update on our strategy, at which -- after which we will open the floor here for Q&A.
So turning to Slide 3 and our 2019 highlights. Overall, our performance was in line with expectations. Pleasingly, our close management of working capital and capital expenditure during the year generated strong cash conversion and enabled us to move leverage close to our new medium-term target. Revenue and operating profit performance otherwise reflects the challenging market backdrop and the operational and customer disruption that was identified in the first half of the year arising from the North American footprint consolidation project. We've made good progress towards resolving these issues with no further material customer losses in the second half and solid improvements at the
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