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Financial Highlights

Data for year ending 31st December 2019.

Revenue (£'m)

£541.8m

+10%

2019 541.8
2018 491
2017 430.2
2016 396.9
2015 386.2

EBITDA (£'m)

Reported basis

£103.9m

+29%

Pre-IFRS 16

£90.1m

+12%

2019 90.1
2018 80.8
2017 67.9
2016 60.8
2015 51.8

Operating profit (£'m)

Reported basis

£73.7m

+14%

Pre-IFRS 16

£72.6m

+12%

2019 72.6
2018 64.8
2017 53.4
2016 47.6
2015 37.5

Basic EPS (p)

Reported basis

29.36p

+12%

Pre-IFRS 16

29.48p

+12%

2019 29.48
2018 26.29
2017 21.52
2016 18.95
2015 14.32

Profit before tax (£'m)

Reported basis

£69.9m

+11%

Pre-IFRS 16

£70.1m

+11%

2019 70.1
2018 62.9
2017 52.1
2016 46
2015 35.3

Return of capital employed (%)

Reported basis

21.4%

Pre-IFRS 16

23.7%

Up 180 basis points

2019 23.7
2018 21.9
2017 20.8
2016 23
2015 19

Final dividend recommended (p)

9.65p

+21%

2019 9.65
2018 8
2017 6.8
2016 5.8
2015 4.75
1. Alternative performance measures are used consistently throughout the Annual Report and Accounts. These relate to like-for-like, EBITA, EBITDA, ROCE and net debt. Following the transition to IFRS 16, reference has been made to “pre-IFRS 16” and “reported basis”, the latter referring to amounts required under IFRS 16. For further etails of their purpose, definition and reconciliation to the equivalent statutory measures see Note 1 to the Financial Statements.

2. The 2019 figures in the graphs use the pre-IFRS 16 figures.
2019 full year financial highlights:
  • Revenue growth of 10% to £541.8 million (2018: £491.0 million)
  • Continued improvement in operating margins which increased to 13.4% (2018: 13.2%)
  • Profit before tax up 11% to £69.9 million (2018: £62.9 million) on a reported basis
  • Return on capital employed (“ROCE”) improved to 23.7% (2018: 21.9%) on a pre-IFRS 16 basis and on a reported basis was 21.4%
  • Reported EPS up 12% to 29.36 pence (2018: 26.29 pence)
  • Edenhall performed well in the period and its operational integration is complete
  • Strong cash generation has continued with Group operating cash flow at 96% of EBITDA
  • Net debt of £18.7 million (2018: £37.4 million) on a pre-IFRS 16 basis
  • Reported net debt of £60.0 million, after the inclusion of £41.3 million of IFRS 16 liabilities
  • Recommended final ordinary dividend increased by 21% to 9.65 pence (2018: 8.00 pence) per share
  • Recommended supplementary dividend of 4.00 pence per share made possible by strong cash management

Annual and Interim Reports