FY23 results were slightly ahead of expectations, with a strong finish to the year. Growth came partly from the transformational Custom Power acquisition, with organic growth a very creditable 30%. The current year has started well. The order book supports a robust H1 (helped by the timing of the large NATO order) and year as a whole. Notwithstanding ongoing market challenges, management guides to YoY revenue growth in excess of 15% and 10% YoY growth in adj PBT. We conservatively raise our FY24 ....