Interim Results. 23 April 2014
|
|
- George Gibbs
- 5 years ago
- Views:
Transcription
1 Interim Results 23 April 2014
2 The leading supply chain, trading and distribution partner in our chosen supply markets - delivering consistently strong returns to shareholders 2
3 Evolution of Smiths News Group News Distribution Books Media Education & Care Smiths News, UK s largest newspaper and magazine wholesaler, today with a 55% market share A multichannel distributor of printed and digital books, serving retailers, libraries and consumers worldwide Supplying news and inflight media to 80 airlines in 50 countries. A global partner to a number of blue chip customers A leading distributor of consumables to the education and care markets Strategic ambition is to deliver 50% of profit outside of news and magazines by 2016 Connect Group PLC Interim Results April
4 Connect Group News Distribution Media Connect Group PLC Interim Results April
5 Core skills and competencies Operating in large and fragmented markets we connect suppliers with customers performing an essential and value added role in these supply chains Market knowledge and expertise Outstanding service Change management and integrations Unmatched efficiency Leading technology Talented people 5 year CAGR PBT : 10.3% EPS : 9.1% DPS : 6.8% 5
6 Delivering promises; realising potential Connect Group PLC Interim Results April
7 Highlights Mark Cashmore Group Chief Executive
8 Highlights Group revenue 899m -0.3% Underlying PBT 24.0m +3.0% Free cash flow 11.9m +16.7% News & Media: Profit +4.9%, 1.1bn annualised News revenue contracted to at least 2019 Books: strong growth in Wordery offset by weaker margin and return on investments impacting profit Education & Care: core sales growing at 5.0% EPS 10.1p +6.3% H1 dividend 3.1p, +3.3% 8
9 Group Financial Update Nick Gresham Chief Financial Officer
10 Cautionary statement This document contains certain forward-looking statements with respect to Connect Group PLC s financial condition, its results of operations and businesses, strategy, plans, objectives and performance. Words such as anticipates, expects, intends, plans, believes, seeks, estimates, targets, may, will, continue, project and similar expressions, as well as statements in the future tense, identify forward-looking statements. These forwardlooking statements are not guarantees of Connect Group PLC s future performance and relate to events and depend on circumstances that may occur in the future and are therefore subject to risks, uncertainties and assumptions. There are a number of factors which could cause actual results and developments to differ materially from those expressed or implied by such forward looking statements, including, among others the enactment of legislation or regulation that may impose costs or restrict activities; the re-negotiation of contracts or licences; fluctuations in demand and pricing in the industry; fluctuations in exchange controls; changes in government policy and taxations; industrial disputes; war and terrorism. These forward-looking statements speak only as at the date of this document. Unless otherwise required by applicable law, regulation or accounting standard, Connect Group PLC undertakes no responsibility to publicly update any of its forward-looking statements whether as a result of new information, future developments or otherwise. Nothing in this document should be construed as a profit forecast or profit estimate. This document may contain earnings enhancement statements which are not intended to be profit forecasts and so should not be interpreted to mean that earnings per share will necessarily be greater than those for the relevant preceding financial period. The financial information referenced in this document does not contain sufficient detail to allow a full understanding of the results of Connect Group PLC. For more detailed information, please see the interim announcement for the half-year ended 28 February 2014 which can be found on the Investor Relations section of the Connect Group PLC website However, the contents of Connect Group PLC s website are not incorporated into and do not form part of this document. The following definitions have been applied consistently throughout this interim results announcement: -Underlying 2014 and 2013 results exclude non-recurring items and amortisation of acquired intangibles and includes the results of acquired businesses from the date of acquisition and excludes results from businesses disposed in the prior period. -Underlying earnings per share are calculated using underlying profit before tax and the Group underlying effective tax rate of 21.5% for HY2014 and 24.9% for HY Free cash flow is cash flow excluding the following; payment of the dividend, acquisitions and disposals, the proceeds on the disposal of freehold properties, repayments of obligations under finance leases, the repayment of bank loans, EBT share purchase, and cash flows relating to non-recurring and other items. -Net debt is calculated as total debt less cash and cash equivalents. Total debt includes loans and borrowings, overdrafts and obligations under finance leases. -Like for like revenues exclude the impact of gains and losses, including contracts, new business and acquisitions reported in the current or prior year total sales. -HY 2014 refers to the six months ended 28 February 2014, FY 2013 refers to the year ended 31 August 2013 and HY2013 refers to the six months ended 28 February The Group adopted IAS 19 (revised) in the period which changed the accounting for defined benefit pension schemes. The prior period has been restated resulting in a 1.5m reduction in both underlying and statutory profit before tax. The consequent changes to the prior periods underlying and statutory earning per share are shown in note 1 to the Condensed financial statements. 10
11 Group performance m Feb 2014 Feb 2013 Change Non N&M mix % News Distribution % - Media % 4% News & Media operating profit % - Books operating profit (33.8)% 9% Education & Care operating profit % 11% Group operating profit % Net finance charges (2.8) (3.5)* Group PBT Tax (5.2) (6.2) Group PAT * EPS 10.1p 9.5p* +6.3% DPS 3.1p 3.0p +3.3% * Restated to reflect IAS19(R) Connect Group PLC Interim Results April
12 Non recurring and other items m Feb 2014 Feb 2013 Integration costs - (0.5) Network reorganisation costs (0.3) (1.0) Release of property provisions Acquisition costs (0.4) (2.1) Amortisation of acquired intangibles (1.3) (1.4) Impairment of acquired intangibles (0.5) - Disposal of MMC Total before taxation (1.9) (4.9) Taxation Total after taxation (1.8) (4.5) 12
13 Free cash flow m Feb 2014 Feb 2013 Operating profit Depreciation and amortisation EBITDA Working capital (2.8) (7.2) Capital expenditure (4.5) (3.7) Net interest and fees (4.2) (2.1) Taxation (5.2) (5.0) Pension funding (2.1) (3.1) Other Free cash flow
14 Net debt m 28 Feb Aug Feb 2013 Opening net debt (98.5) (100.5) (100.5) Free cash flow Dividend (11.7) (16.0) (10.6) Non recurring items (1.9) (5.9) (2.2) Acquisitions (0.3) (5.1) (3.4) Other (4.5) (3.6) (2.9) Closing net debt (105.0) (98.5) (109.4) Net debt : EBITDA 1.6x 1.5x 1.6x 200m committed facilities to November 2018 Net debt / EBITDA covenant 2.75x Interest cover covenant 3.0x Fixed charge cover covenant 2.0x 14
15 Business update
16 Connect News & Media News distribution 2014 H1 Total Revenue 748.6m -1.6% LFL Revenue -2.8% Profit 20.5m +4.1% New business wins driving sales Strong dynamics in newspaper market: total sales +0.9% Segmental LFLs Newspapers -0.5% Magazines -8.1% % of Group Operating Profit 76% Continued weakness in magazine sales Metro contract: 200m copies per year Contract wins: 77% of total revenues secured until m cost savings in H1: on track for 20m 3-year target Customer innovation: driving further efficiency 16
17 Connect News & Media Media 2014 H1 Total Revenue 12.3m +4.2% LFL Revenue +1.8% Good progress in H1 Profit 1.0m +36.0% Segmental LFLs UK 11.0% International -4.5% % of Group Operating Profit Global BA contract secured to May 2019 Mirror contract: 18m copies per annum secured 11,000 ipads now deployed across 17 airlines Growth in digital services Operational integration delivering efficiency 4% 17
18 Business update
19 Connect Books 2014 H1 Total Revenue 106.6m +8.4% LFL Revenue -0.3% Profit 2.3m -33.8% Segmental LFLs Trade -4.6% D to C % Public Library -14.9% Academic -9.8% Digital +2.2% % of Group Operating Profit Sales mix and margin dilution impacting profitability Wordery: doubled sales; now making profit Challenging academic environment Planned H1 investment adding short term pressure Focused long-term growth strategy Clear plan addressing immediate challenges Close monitoring of return on investments 9% 19
20 Business update
21 Connect Education & Care 2014 H1 Total Revenue 31.2m +2.5% LFL Revenue +3.2% Profit 3.0m +3.4% Segmental LFLs Education +5.1% Early Years +12.0% Care -2.0% Other -17.8% Strong sales performance in core categories +5.0% Expanding geographic footprint from framework wins in Scotland and NI Continued investment in warehouse management, demand planning and customer service Range alignment in new catalogues % of Group Operating Profit 11% WMS range expanded by 5000 products from 1 March Well positioned for H2 peak 21
22 Summary & outlook
23 Summary & outlook Rebranding complete Strong performance in 2 of 3 divisions : representing 91% profit Challenges in Books division being addressed Diversification strategy unchanged, maintaining target of 50% profit mix by 2016 Strong cash flow dynamics and new committed facilities Maintaining dividend growth H1 Metrics PBT +3.0% EPS +6.3% DPS +3.3% 23
24 Interim Results 23 April 2014
25 Appendices
26 Connect News & Media News Distribution Income Statement m Feb 2014 Feb 2013 Change LFL Total revenue (1.6%) (2.8%) Gross profit Operating costs (41.2) (42.4) Operating profit % Gross margin 8.2% 8.2% - Cost ratio (5.5%) (5.6%) 10 bps Operating margin 2.7% 2.6% 10 bps 26
27 Connect News & Media Media Income Statement m Feb 2014 Feb 2013* Change LFL Total revenue % 1.8% Gross profit Operating costs (5.1) (4.4) Operating profit % Gross margin 49.6% 44.1% 550 bps Cost ratio (41.5%) (37.3%) (420 bps) Operating margin 8.1% 6.8% 130 bps * Excludes the results for the MMC business disposed of in April
28 Connect Books Income Statement m Feb 2014 Feb 2013 Change LFL Total revenue % (0.3%) Gross profit Operating costs (17.1) (15.2) Operating profit (33.8%) Gross margin 18.1% 19.0% (90 bps) Cost ratio (16.0%) (15.5%) (50 bps) Operating margin 2.2% 3.6% (140 bps) 28
29 Connect Books sales comparison Digital (4% mix) +2.2% HY 2014 Consumer (4% mix) FY 2013 Digital (5% mix) +38.0% Consumer (11% mix) % UK Library (10% mix) -14.9% Academic (25% mix) -9.8% Trade (50% mix) -4.6% UK Library (13% mix) -10.9% Academic (20% mix) -11.4% Trade (58% mix) -3.3% 29
30 Connect Education & Care - Income Statement m Feb 2014 Feb 2013 Change LFL Total revenue % 3.2% Gross profit Operating costs (9.6) (9.1) Operating profit % Gross margin 40.5% 39.3% 120 bps Cost ratio (31.0%) (29.8%) (120 bps) Operating margin 9.5% 9.5% - 30
31 Reported Sales Performance Smiths News FY14 FY13 FY12 H1 Jan IMS FY July IMS H1 Jan IMS FY News (0.5%) - (2.7%) - (3.9%) - (2.1%) - (1.2%) - Magazines (8.1%) - (9.9%) - (7.7%) - (6.6%) - (7.8%) - LFL (2.8%) (2.8%) (4.6%) (4.6%) (5.0%) (4.7%) (4.3%) (4.1%) (3.7%) (3.2%) Total (1.6%) (2.0%) (2.6%) (3.2%) (3.0%) (1.9%) (1.9%) (2.6%) (1.8%) - July IMS H1 Jan IMS DMD LFL 1.8% 0.2% 1.9% - (0.3%) 0.5% - 8.6% - - Total 3.9% 2.0% (7.8%) (6.9%) (3.3%) (1.5%) - 6.7% - - Bertrams LFL (0.3%) (0.4%) (0.6%) 2.0% 2.8% 1.5% 5.8% 4.3% 2.5% (0.6%) Total 8.4% 9.7% 7.8% 11.2% 7.0% 4.4% 31.2% 32.5% (5.9%) - Consortium LFL 3.2% 4.2% 2.6% 1.4% 3.3%* 5.1%* Total 2.5% 4.2% (0.3%) (1.5%) 3.2%* 5.0%* - 7.2%*
32 Financial KPIs m HY 2014 FY 2013* FY 2012 FY 2011 FY 2010 Revenue , , , ,829.6 Profit before tax Profit after tax EPS 10.1p 20.8p 19.9p 15.5p 14.6p Free cash flow DPS 3.1p 9.3p 8.6p 8.0p 7.4p Net Debt
33 Income Statement m HY 2014 FY 2013* FY 2012 FY 2011 FY 2010 Revenue , , , ,829.6 Underlying Operating profit Non recurring items (1.9) (10.8) (10.9) (6.5) (6.9) Statutory Operating profit Net finance charges (2.8) (6.7) (3.7) (3.1) (2.1) Statutory Profit before tax Income tax expense (5.1) (10.8) (9.1) (10.2) (6.9) Statutory Profit after tax Earnings per share Statutory - basic - diluted Underlying - basic -diluted 9.2p 8.7p 10.1p 9.6p 15.4p 14.5p 20.8p 19.6p 15.2p 14.7p 19.9p 19.3p 12.1p 11.9p 15.5p 15.3p 11.7p 11.5p 14.6p 14.4p 33
34 Balance Sheet m HY 2014 FY 2013 FY 2012* FY 2011* FY 2010 Intangible assets Property, plant & equipment Other non current assets Total non current assets Cash Other current assets Total assets Other current liabilities (192.8) (206.1) (200.3) (194.8) (188.8) Borrowings (116.2) (106.8) (103.1) (65.2) (48.8) Retirement benefit (21.9) (23.3) (36.0) (36.3) - Other non current liabilities (8.5) (9.7) (14.3) (12.2) (6.0) Total liabilities (339.4) (345.9) (353.7) (308.5) (243.6) Total net liabilities (53.3) (56.9) (77.6) (87.4) (62.4) * Restated in respect of retirement benefit obligations 34
35 Cash flow m HY 2014 FY 2013 FY 2012 FY 2011 FY 2010 Operating profit Depreciation and amortisation EBITDA Working capital (2.8) (5.0) (9.1) (10.3) (1.4) Capital expenditure (4.5) (7.9) (5.1) (3.1) (8.6) Net interest (4.2) (4.2) (3.3) (4.9) (2.6) Taxation (5.2) (10.5) (8.0) (1.7) (5.9) Pension funding (2.1) (6.5) (6.8) (6.2) (6.4) Other Free cash flow
36 Net debt m HY 2014 FY 2013 FY 2012 FY 2011 FY 2010 Opening net debt (98.5) (100.5) (63.3) (48.0) (49.5) Free cash flow Dividend (11.7) (16.0) (14.9) (13.8) (12.6) Non recurring items (1.9) (5.9) (10.3) (5.2) (6.7) Acquisitions (0.3) (5.1) (38.1) (17.9) - Disposals Other (4.5) (3.6) (1.1) (0.9) 0.4 Closing net debt (105.0) (98.5) (100.5) (63.3) (48.0) Decrease/(Increase) in debt (6.5) 2.0 (37.2) (15.3) 1.5 Net debt : EBITDA 1.6x 1.5x 1.6x 1.3x 1.1x 36
37 Non-recurring and other items m HY 2014 FY 2013 FY 2012 FY 2011 FY 2010 Integration costs - (1.1) (2.7) - - Network re-organisation costs (0.3) (3.3) (2.0) (2.7) (6.7) Acquisition costs (0.4) (3.7) (4.6) (2.4) - Property provisions (0.5) - Amortisation of acquired intangibles (1.3) (2.8) (2.1) (0.9) (0.9) Impairment of acquired intangible (0.5) Interest - (0.2) MMC disposal The Returns Company Total before taxation (1.9) (11.0) (10.9) (6.5) (6.9) Taxation Total after taxation (1.8) (9.7) (8.6) (6.3) (5.2) Non-recurring cash (per cash flow) (1.9) (5.9) (10.3) (5.2) (6.7) 37
38 Taxation m HY 2014 FY 2013 FY 2012 FY 2011 FY 2010 Current tax Adj in respect of prior year UK corporation tax - (2.6) (1.6) (0.5) (1.4) Total current tax charge Deferred tax current year (0.1) (0.7) (0.6) (0.4) (0.1) Deferred tax prior year 0.2 (0.3) Total tax on profit Effective tax rate 21.5% 24.2% 24% 27% 25% Non recurring items (0.1) (1.3) (2.3) (0.2) (1.7) Tax on profit after non recurring Effective statutory tax rate 23.1% 27.8% 25% 32% 24% 38
39 Lease commitments m HY 2014 FY 2013 FY 2012 FY 2011 FY 2010 Land and buildings within one year in second to fifth year beyond fifth year Total Equipment and vehicles within one year in second to fifth year beyond fifth year Total Total within one year in second to fifth year beyond fifth year Total
40 Defined benefit schemes HY 2014 FY 2013 FY 2012 FY 2011 FY 2010 Scheme assets Scheme liabilities (428.0) (419.2) (395.3) (348.3) (367.4) Surplus Asset cap (58.1) (53.2) (40.3) (26.8) (41.2) Additional liability IFRIC 14 (18.8) (20.3) (33.5) (36.3) - Liability on balance sheet (21.9) (23.3) (36.0) (36.3) - Asset on balance sheet The Group operates three defined benefit schemes of which WHS Smith Pension Trust (the Pension Trust ) represents over 96% of the total obligation at 28 February The Pension Trust Actuarial deficit 23m at 19 June 2013, Contributions agreed at 4.1m per annum, 2.1m in HY 2014 Managed through Liability Driven Investment Scheme, Closed to further accruals 40
41 Contingent liability m HY 2014 FY 2013 FY 2012 FY 2011 FY 2010 No. of Reversionary leases Contingent liability Maximum annual liability Under the terms of the 2006 Demerger Agreement, Connect Group Plc has a contingent liability for 35% of any of the total WHS Group potential reversionary leases, whereby a lease liability could revert back to WH Smith is the assignee were to fail. 41
42 Restatement of retirement benefit obligation During the period the Group adopted IAS 19 (revised) affecting the accounting for defined benefit schemes and specifically to reflect pension interest in the income statement calculated on the net balance sheet position at the beginning of the period. To aid comparison we have restated the pension interest costs and hence the result of the Group for the 6 month period ended 28 February 2013 and the year ended 31 August There is no impact on cashflow or covenants. During the year ended 31 August 2013 the Group reconsidered its accounting for deficit contributions of pension schemes and has amended its accounting to reflect future agreed deficit contributions as a liability on the balance sheet to better reflect the requirements of IFRIC14. Accordingly the February 2013 Condensed financial statements have also been restated to reflect the schedule of contributions as a liability of 22.6m and a resulting tax asset of 4.7m on our balance sheet at 28 February The key impacts on the earnings are set out below: 6 months to Feb months to Aug 2013 m Reported Adjustment Restated Reported Adjustment Restated Operating profit 26.9 (0.1) (0.1) 56.4 Net interest (2.0) (1.5) (3.5) (3.5) (3.0) (6.5) Profit before tax 24.9 (1.6) (3.1) 49.9 Profit after tax 18.7 (1.6) (3.1) 37.8 EPS basic 10.3p (0.8p) 9.5p 22.4p (1.6p) 20.8p EPS diluted 9.7p (0.8p) 8.9p 21.1p (1.5p) 19.6p 42
43
Interim Results. 1 May 2018
Interim Results 1 May 2018 Headlines Trading Revenue 766.5m -3.4% Adjusted PBT 15.1m -30.3% Adjusted EPS 5.0p -28.6% Capital management Free cash flow 10.0m 495.1% Net Debt 83.6m 44.2% DPS 3.1p 0.0% Operations
More informationInterim Results. 25 April 2017
Interim Results 25 April 2017 Highlights Continuing Operations Total revenue 911.8m -0.6% Adjusted PBT 23.3m -4.8% Adjusted EPS 7.6p -5.3% Free cash flow 12.4m -31.2% DPS 3.1p +3.3% Highlights Proposed
More informationPreliminary Results. 18 October 2016
Preliminary Results 18 October 2016 Highlights Mark Cashmore Group Chief Executive Highlights Solid Group performance in line with expectations Total revenue 1,907m +1.7% Adjusted PBT 60.7m +7.4% Adjusted
More informationConnect Group PLC ( Connect Group or the Group ) Preliminary Results Announcement for the year ended 31 August 2014
Connect Group PLC ( Connect Group or the Group ) Preliminary Results Announcement for the year ended 31 August 2014 Connect Group, a leading specialist distributor operating in three divisions; News &
More information(a) Business combinations: those prior to the transition date have not been restated onto an IFRS basis.
Telecom plus PLC Adoption of International Financial Reporting Standards The purpose of this document is to provide guidance on the impact of International Financial Reporting Standards as adopted for
More informationINTERIM RESULTS PRESENTATION SIX MONTHS TO 30 JUNE 2018
INTERIM RESULTS PRESENTATION SIX MONTHS TO 30 JUNE 2018 DISCLAIMER The information contained in this presentation has not been independently verified and this presentation contains various forward-looking
More informationINTERIM RESULTS PRESENTATION Strong start to the year, with a strong order book for the second half of September 2017
INTERIM RESULTS PRESENTATION Strong start to the year, with a strong order book for the second half of 2017 11 September 2017 AGENDA Introduction and highlights John Hornby Financial review David Main
More informationAEGIS GROUP PLC 2008 ANNUAL RESULTS. 19 March 2009
AEGIS GROUP PLC 2008 ANNUAL RESULTS 19 March 2009 AGENDA OVERVIEW OF RESULTS John Napier FINANCIAL REVIEW Alicja Lesniak OUTLOOK John Napier Q&A Aegis Group plc Page 2 OVERVIEW OF RESULTS John Napier,
More informationSmart Metering Systems plc Interim results for the period ended 30 June 2017
Smart Metering Systems plc Interim results for the period ended 30 June 2017 Business Review Our history 4 Our integrated service 6 Financial highlights 7 Operational highlights 8 INTRODUCTION & AGENDA
More informationInterim Financial Statements
[Type text] Interim Financial Statements KCA Deutag Alpha Limited For the twelve months ended 31 December 2014 Page 1 of 11 Table of Contents Consolidated income statement... 3 Consolidated statement of
More informationInterim Financial Statements
Interim Financial Statements KCA Deutag Alpha Limited For the three months ended 31 March 2018. Page 1 of 11 Table of contents Consolidated income statement 3 Consolidated statement of changes in shareholder's
More informationRevenue 167.5m 177.2m EBITDA 18.1m 22.9m Operating profit 9.5m 13.7m Profit before tax 7.6m 12.2m
HALF-YEARLY REPORT 2012 Financial Highlights Continuing operations before operational restructuring costs and asset impairments: Half year ended Half year ended 30 June 2012 30 June 2011 Revenue 167.5m
More informationPreliminary Results for year ended 30 November 2015
Preliminary Results for year ended 30 November 2015 Good progress against a challenging market backdrop 5 year planning process completed, underpins 2016 expectations Clear long term strategy being implemented
More informationHOGG ROBINSON GROUP PLC. July 2014
HOGG ROBINSON GROUP PLC July 2014 CONTENTS Pages Introduction to Hogg Robinson Group 3-10 Business model and competitive advantages 3 Strategy 4 Financial performance 5 KPIs 6 Clients and contracts 7 Target
More informationAegis Group plc Half Year Results. 27 August 2010
Aegis Group plc 2010 Half Year Results 27 August 2010 Agenda Introduction John Napier, Chairman Aegis Group overview Jerry Buhlmann, CEO Divisional review Aegis Media - Jerry Buhlmann, CEO Synovate Robert
More informationGood performance across the Group with profits in line with expectations, EPS up 14% and interim dividend up 15%
19 April 2012 WH SMITH PLC INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 29 FEBRUARY 2012 Good performance across the Group with profits in line with expectations, EPS up 14% and interim dividend
More information2017 Interim Results. 14 September 2017
2017 Interim Results 14 September 2017 1 Disclaimer NOT FOR PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT
More informationIFRS 15 teach in. 7 September 2017
IFRS 15 teach in 7 September 2017 Agenda Introduction Application to Capita Nick Greatorex David Manuel Break 2016 under IFRS 15 Nick Greatorex Key implications Q&A Nick Greatorex Nick Greatorex, David
More informationTATE & LYLE PLC EFFECT OF ADOPTION OF IFRS 11 JOINT ARRANGEMENTS
29 May 2014 ACCOUNTING FOR JOINT VENTURES With effect from 1 April 2014, Tate & Lyle adopted IFRS 11 Joint Arrangements which will change significantly the basis of accounting for its interests in joint
More informationPRELIMINARY RESULTS PRESENTATION YEAR ENDED 31 DECEMBER 2017
PRELIMINARY RESULTS PRESENTATION YEAR ENDED 31 DECEMBER 2017 DISCLAIMER The information contained in this presentation has not been independently verified and this presentation contains various forward-looking
More informationQuarter and year ended 31 December Financial results & business update
Quarter and year ended 31 December 2012 Financial results & business update 26 February 2013 Disclaimer Any remarks that we may make about future expectations, plans and prospects for the company constitute
More informationMorse plc Interim Results Six months ended 31 December On track to achieve performance objectives and confident of performance for the full year
Wednesday 13 February 2008 Morse plc Interim Results Six months ended 31 December 2007 On track to achieve performance objectives and confident of performance for the full year Morse plc ( Morse or the
More informationBioLineRx Ltd. CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION (UNAUDITED)
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION December 31, Assets CURRENT ASSETS Cash and cash equivalents 5,544 4,584 Short-term bank deposits 42,119 40,423 Prepaid expenses 229 466
More information2018 Full Year Results 20 November 2018
2018 Full Year Results 20 November 2018 Disclaimer Certain information included in the following presentation is forward looking and involves risks, assumptions and uncertainties that could cause actual
More informationAdjusted earnings per share were 54.1p (2016: 58.8p). Statutory results. Underlying. growth
34 Pearson plc Annual report and accounts We expect ongoing headwinds in our US higher education courseware business to be offset by improving conditions in our other businesses. Coram Williams Chief Financial
More informationWH Smith PLC Interim Results April 2018
Disclaimer This document contains forward-looking statements with respect to the operations, performance and financial condition of WH Smith PLC. By their nature, these statements are subject to risks,
More informationIFRS has no material impact on ICAP s underlying cash flow, economic and risk profile, dividend policy, regulatory capital and bank covenants
Press Release ICAP plc releases IFRS Transition Report ICAP plc, the world s largest voice and electronic interdealer broker today releases the restatement of selected previously published financial information
More informationTRAVIS PERKINS PLC RESULTS FOR THE YEAR ENDED 31 DECEMBER 2011
TRAVIS PERKINS PLC RESULTS FOR THE YEAR ENDED 31 DECEMBER 2011 CONTINUED ROBUST PERFORMANCE ON MARKET SHARE GAINS, MARGINS, EARNINGS AND CASH GENERATION FINANCIAL HIGHLIGHTS DIVIDEND UP 33% Group revenue
More informationCHIEF FINANCIAL OFFICER S REVIEW
15 CHIEF FINANCIAL OFFICER S REVIEW Capita has early adopted IFRS 15, the new revenue recognition standard, and this report on our performance in 2017 against the comparative period in 2016 is under the
More informationFinancial statements. Group financial statements. Company financial statements. 68 Independent auditor s report 74 Consolidated income statement
Strategic report Governance Financial statements Financial statements Group financial statements 68 Independent auditor s report 74 Consolidated income statement 75 Consolidated statement of comprehensive
More informationK3 BUSINESS TECHNOLOGY GROUP PLC
K3 BUSINESS TECHNOLOGY GROUP PLC Unaudited Interim Statement For the six months to 31 December 2010 Chairman s Statement 01 Consolidated Income Statement 07 Consolidated Statement of Comprehensive Income
More informationRegulated information
Regulated information JENSEN-GROUP Half-Year Results 2015 1 Consolidated, non-audited key figures Income Statement 30/06/2015-30/06/2014 Non-audited, consolidated key figures June 30, 2015 June 30, 2014
More informationInterim Results 2014
Interim Results 2014 Ralph Findlay Chief Executive Officer Highlights 1. Good trading performance, in line with our expectations Growth in core profits in each trading segment Earnings per share up 10.8%
More informationKEY FIGURES.3 MANAGEMENT DISCUSSION AND ANALYSIS OF THE RESULTS GROUP FINANCIAL HIGHLIGHTS BUSINESS UPDATE H
1 Table of Contents 1. KEY FIGURES...3 2. MANAGEMENT DISCUSSION AND ANALYSIS OF THE RESULTS...4 2.1. GROUP FINANCIAL HIGHLIGHTS...4 2.2. BUSINESS UPDATE...4 3. OPERATING REVIEW PER SEGMENT...5 3.1. REVENUE
More informationFyffes reports positive first half result and reconfirms full year targets
Fyffes reports positive first half result and reconfirms full year targets Continuation of earnings growth in first half adjusted EBITDA up 11.3% Reconfirms strong full year target earnings ranges as follows:
More informationSOUTHERN CROSS AUSTEREO FY17 INVESTOR PRESENTATION. 24 August 2017
SOUTHERN CROSS AUSTEREO FY17 INVESTOR PRESENTATION 24 August 2017 1 Disclaimer Summary information The material in this presentation has been prepared by Southern Cross Media Group Limited ABN 91 116 024
More informationINTERIM RESULTS FOR THE SIX MONTHS TO 30 JUNE 2017
Issued on behalf of RELX PLC and RELX NV 27 July INTERIM RESULTS FOR THE SIX MONTHS TO 30 JUNE RELX Group, the global professional information and analytics company, reports continued underlying growth
More informationFor personal use only
PRELIMINARY FULL YEAR REPORT ANNOUNCEMENT The a2 Milk Company Limited For the year ended 30 June 2016 Preliminary full year (12 month) report on consolidated results (including the results for the previous
More informationBofA Merrill Lynch Conference 30 September, Mark Wilson Group CEO
BofA Merrill Lynch Conference 30 September, 2015 Mark Wilson Group CEO 1 Disclaimer Cautionary statements: This should be read in conjunction with the documents filed by Aviva plc (the Company or Aviva
More information7 September Nick Greatorex, Group Finance Director, commented:
7 September 2017 IFRS 15 early adoption and presentation Capita plc ( Capita ) is today hosting a presentation for institutional investors and analysts on the application of the International Accounting
More informationA platform for change
A platform for change Operating review John Cresswell A more efficient business maintaining performance in a tough market Financial review Ian Griffiths Resilient financial performance and strengthened
More informationRPC GROUP PLC 2017 / 18 RESULTS
RPC THE ESSENTIAL INGREDIENT RPC GROUP PLC 2017 / 18 RESULTS Supplemental Information 1 2018 RPC Group Plc. All Rights Reserved. Key figures Sales ( m) +36% Adjusted Operating Profit ( m) +38% Adjusted
More informationGlanbia plc 2017 Half Year Results Presentation
Glanbia plc 2017 Half Year Results Presentation 10 August 2017 Siobhan Talbot Group Managing Director Mark Garvey Group Finance Director Cautionary Statement Half Year 2017 Performance Summary Adjusted
More informationQuarterly Financial Statements
[Type text] Quarterly Financial Statements KCA Deutag Alpha Limited For the twelve months ended 31 December 2013 Page 1 of 11 Table of Contents Consolidated income statement... 3 Consolidated statement
More informationResults for the year ended 30 November 2014
Results for the year ended 30 November 2014 Good progress but results impacted by weak Civil sales Good results in TCF and Yarns, more improvement expected After a good start, poor Civil sales in H2 impacted
More informationAppendix 1 (NZAX Listing Rule ) Half year preliminary announcement. Results for announcement to the market. Solution Dynamics Limited ("SDL")
Appendix 1 (NZAX Listing Rule 10.4.1) Half year preliminary announcement Results for announcement to the market Basis of report Unaudited Reporting period 6 months to 31 December 2017 Previous reporting
More information5 Q & A. Agenda. Introduction Ben Robinson Strategy Director. Strategy and Business update Guy Dubois CEO. Financial update David Arnott CFO
Financial Results & Business Update Quarter and year ended 1 December 2011 Disclaimer NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO OR FROM THE UNITED STATES OR ANY OTHER
More informationUnaudited condensed consolidated income statement
Unaudited condensed consolidated income statement 52 weeks to 52 weeks to 52 weeks to 52 weeks to 27-Feb-16 27-Feb-16 Before exceptional items Exceptional items (Note 5) Continuing operations Note Total
More informationPress Release Schroders plc Half-year results to 30 June 2018 (unaudited) 26 July 2018
Press Release Schroders plc Half-year results to 30 June 2018 (unaudited) 26 July 2018 Net income before exceptional items up 11% to 1,086.1 million (H1 2017: 974.4 million) Profit before tax and exceptional
More informationThe global distributor for engineers
The global distributor for engineers ELECTROCOMPONENTS PLC Announcement of Preliminary Results for Year Ended 31 March 2014 22 May 2014 www.electrocomponents.com AGENDA 2014 highlights and current trading
More informationDS Smith Plc. Full Year Results 2010/11 23 June 2011
DS Smith Plc Full Year Results 2010/11 23 June 2011 Introduction Miles Roberts Group Chief Executive 2 Strong performance, more to go for Packaging volume up 8% EBITA up 39% to 136.1m, 20% excluding Otor
More informationInternational Financial Reporting Standards (IFRS) : Group Financial Controller
International Financial Reporting Standards (IFRS) Andrew Fisher Andrew Lewis : Group Finance Director : Group Financial Controller IFRS presentation Background to IFRS Overview of status of EU standards
More informationHalfords Group plc. J.P. Morgan London Small/Mid Cap Conference 2017
Halfords Group plc J.P. Morgan London Small/Mid Cap Conference 2017 Highlights Introduction to Halfords and key markets Page 3 Moving Up A Gear strategy Page 12 Financial Guidance Page 25 FY17 Financial
More informationResults presentation. Year ended 31 March 2016
Results presentation Year ended 31 March 2016 Introduction Peter Cruddas - Group Chief Executive Officer Introduction Key Highlights Successful IPO Strong growth across all key metrics and significant
More informationFOURTH QUARTER & FULL YEAR 2018 EARNINGS CONFERENCE CALL. February 13, 2019
FOURTH QUARTER & FULL YEAR 2018 EARNINGS CONFERENCE CALL February 13, 2019 Overview Fourth quarter 2018 net revenue increased 13.3% o Organic growth of net revenue was 7.1% US organic growth was 6.3% International
More informationIndex to the financial statements
Index to the financial statements Accounting policies 67 68 Acquisitions 96 Adjusted earnings per share 76 Associates 71 84 85 Auditors Remuneration 73 Report to members 65 Balance sheet Company 100 Group
More informationWincanton plc. Results for the Half Year to 30 September 2013
Wincanton plc Results for the Half Year to 30 September 2013 Certain statements in this presentation are forward-looking statements. Such statements are based on current expectations and by their nature
More informationWESCO International John Engel Chairman, President and CEO. William Blair & Company 36 th Annual Growth Stock Conference June 14, 2016
WESCO International John Engel Chairman, President and CEO William Blair & Company 36 th Annual Growth Stock Conference June 14, 2016 Safe Harbor Statement Note: All statements made herein that are not
More informationInterim Results 2018/19
Interim Results 2018/19 Martin Morgan, Executive Chairman Richard Amos, Chief Financial Officer London, 21 February 2019 Safe Harbour Statement This presentation and the subsequent question and answer
More informationHalf year results. Delivering better nutrition for every step of life s journey. Wednesday, 17 August Glanbia plc 2013 half year results
2016 results Delivering better nutrition for every step of life s journey Wednesday, 17 August 2016 1 Glanbia plc 2013 half year results Strong performance in first half driven by Glanbia Performance Nutrition
More informationYear-end March 2012A 2013A 2014E 2015E Key Data Revenue ( m) Rating (12 month) BUY*
This research is intended for UK institutional investors only and market professionals. It is not intended for retail customers and any retail customer should seek professional, independent advice before
More informationPress Schro. oders. 2 August Half-year. results to. Contacts: Net inflows. 2.7 billion. Schroders. ions. William Clutterbuck
Press s Releasee Schro oders plc Half-year results to 2012 (unaudited) 2 August 2012 Profit before tax 177..4 million (H1 : 215.7 million) Earnings per share 50.7 pence per share (H1 : 60.7 pence per share)
More informationWH Smith PLC Preliminary Results October 2018
Disclaimer This document contains forward-looking statements with respect to the operations, performance and financial condition of WH Smith PLC. By their nature, these statements are subject to risks,
More informationWESCO International John Engel Chairman, President and CEO. EPG Conference May 16, 2016
WESCO International John Engel Chairman, President and CEO Safe Harbor Statement Note: All statements made herein that are not historical facts should be considered as forwardlooking statements within
More informationLOOPUP GROUP PLC. ( LoopUp Group or the Group ) Interim results for the six months ended 30 June 2018
LOOPUP GROUP PLC ( LoopUp Group or the Group ) Interim results for the six months ended 30 June 2018 LoopUp Group plc (AIM: LOOP), the premium remote meetings company, today announces its unaudited interim
More information2007 Interim Results Presentation 3 September 2007
2007 Interim Results Presentation 3 September 2007 Wolfhart Hauser, Chief Executive Officer Bill Spencer, Chief Financial Officer Cautionary statement regarding forward-looking statements This presentation
More informationCondensed consolidated income statement For the half-year ended June 30, 2009
Condensed consolidated income statement For the half-year ended June Restated* December Notes Revenue 2 5,142 4,049 9,082 Cost of sales (4,054) (3,214) (7,278) Gross profit 1,088 835 1,804 Other operating
More informationAdoption of IFRS 15: Revenue from contracts with customers
Adoption of IFRS 15: Revenue from contracts with customers Laura Carr Group Financial Controller 13 September 2018 Disclaimer Certain information included in the following presentation is forward looking
More informationThe advanced paper products group, announces Half year results to 27 September 2014
The advanced paper products group, announces Half year results to 27 September 2014 Half-year to 27 September 2014 Half-year to 28 September 2013 Full-year to 29 March 2014 Revenue 40.1m 42.3m 84.5m EBITDA
More informationInterim Financial Statements
Interim Financial Statements KCA Deutag Alpha Limited For the six months ended 30 June 2017 Page 1 of 11 Table of contents Consolidated income statement 3 Consolidated statement of changes in shareholder's
More informationCentrica plc. International Financial Reporting Standards. Restatement and seminar
International Financial Reporting Standards Restatement and seminar Centrica plc has adopted International Financial Reporting Standards with effect from 1 January 2005 and, on 15 September 2005, will
More informationLooking to the medium term
Looking to the medium term Issued: 4 September 2013 Legal notice This presentation has been prepared to inform investors and prospective investors in the secondary markets about the Group and does not
More informationRM plc Interim Results for the period ending 31 May 2018
3 July 2018 RM plc Interim Results for the period ending 31 May 2018 RM plc ( RM ), a leading supplier of technology and resources to the education sector, reports its interim results for the period ending
More informationANNOUNCEMENT OF PRELIMINARY RESULTS
The leading high service distributor to engineers worldwide ANNOUNCEMENT OF PRELIMINARY RESULTS YEAR ENDED 31 MARCH 2009 29 May 2009 Agenda Overview and current trading Ian Mason Financial performance
More informationStandard Life plc Full year results February 2015
Standard Life plc Full year results 2014 20 February 2015 Increased focus on fee business driving growth and performance Assets under administration from continuing operations increased by 38% to 296.6bn,
More informationRESULTS FOR THE YEAR ENDED 31 MARCH Copyright Tate & Lyle PLC 2017
RESULTS FOR THE YEAR ENDED 31 MARCH 2017 Copyright Tate & Lyle PLC 2017 Cautionary Statement This presentation for the Full Year Results for the year ended 31 March 2017 contains certain forward-looking
More informationOur Transformation Continues. March 21, 2018
Our Transformation Continues March 21, 2018 Disclosure Regarding Forward-Looking Statements Forward-Looking Statements and Factors That May Affect Future Results: Throughout this presentation, we make
More informationINTERIM RESULTS SEPTEMBER 2017 INTERIM RESULTS SATELLITE SOLUTIONS WORLDWIDE GROUP PLC SEPTEMBER 2017 SATELLITE SOLUTIONS WORLDWIDE GROUP PLC
INTERIM RESULTS SATELLITE SOLUTIONS WORLDWIDE GROUP PLC SEPTEMBER 2017 1 DISCLAIMER IMPORTANT NOTICE Nothing in this presentation or in any accompanying management discussion of this presentation ("Presentation")
More informationWS Atkins plc Preliminary results for the year ended 31 March June 2017
WS Atkins plc Preliminary results for the year ended 31 March 2017 15 June 2017 1 Uwe Krueger Chief executive officer 2 Delivering the strategy A year of strong financial and strategic progress Financial
More informationFinancial results & business update. Quarter and year ended 31 December February 2016
Financial results & business update Quarter and year ended 31 December 2015 11 February 2016 Disclaimer 3 Any remarks that we may make about future expectations, plans and prospects for the company constitute
More informationLuceco plc ( Luceco or the Group or the Company ) RESULTS IN-LINE WITH EXPECTATIONS WITH A FIRMER BASE FROM WHICH TO GROW
Luceco plc ( Luceco or the Group or the Company ) 10 September RESULTS IN-LINE WITH EXPECTATIONS WITH A FIRMER BASE FROM WHICH TO GROW Luceco plc, a manufacturer and distributor of high quality and innovative
More informationInterim Financial Statements
Interim Financial Statements KCA Deutag Alpha Limited For the three months ended 31 March 2017 Page 1 of 11 Table of contents Consolidated income statement 3 Consolidated statement of changes in shareholder's
More informationMaking it happen. 13 June 2017
Making it happen 13 June 2017 LEGAL NOTICE This presentation has been prepared to inform investors and prospective investors in the secondary markets about the Group and does not constitute an offer of
More informationElectrocomponents plc ANNOUNCEMENT OF INTERIM RESULTS
Electrocomponents plc ANNOUNCEMENT OF INTERIM RESULTS HALF YEAR ENDED 30 SEPTEMBER 2010 12 NOVEMBER 2010 DELIVERING FOR OUR CUSTOMERS Agenda Overview and current trading Ian Mason Financial performance
More informationAGENDA. Overview. Implementation timeline.
IFRS BRIEFING 8 March 2005 1 AGENDA Overview. Implementation timeline. IFRS impact on ICAP: First time adoption exemptions Technical changes that effect ICAP Net assets as at 1 April 2004 Interim results
More informationHorizon Global Third Quarter 2017 Earnings Presentation
Horizon Global Third Quarter 2017 Earnings Presentation October 31, 2017 Q1 2016 Earnings 1 Safe Harbor Statement Forward-Looking Statements This presentation may contain "forward-looking statements" as
More information2006 Interim Results. 9 August 2006
2006 Interim Results 9 August 2006 Agenda Introduction Financial review Review of the business Richard Harvey Group Chief Executive Andrew Moss Group Finance Director Richard Harvey Review of AmerUs Tom
More informationASX Media Release WORLEYPARSONS LIMITED (ASX: WOR) FULL YEAR 2017 RESULT
23 August 2017 ASX Media Release WORLEYPARSONS LIMITED (ASX: WOR) FULL YEAR 2017 RESULT Professional services company WorleyParsons Limited today announced a statutory net profit after tax (NPAT) of $33.5
More informationInterim Financial Statements
[Type text] Interim Financial Statements KCA Deutag Alpha Limited For the nine months ended 30 September 2014 Page 1 of 11 Table of Contents Consolidated income statement... 3 Consolidated statement of
More informationSales revenue growth (incl. share of JV s) of 33% to 1,220 million. Profit before tax and amortisation up 13.0% to 21.5 million.
TOTAL PRODUCE PLC INTERIM RESULTS FOR 6 MONTHS ENDING 30 TH JUNE 2007. Sales revenue growth (incl. share of JV s) of 33% to 1,220 million Operating profit* up 14.8% to 23.5 million EBITDA up 13.9% to 29.8
More informationAshmore Group plc. Results for six months ending 31 December February
Ashmore Group plc Results for six months ending 31 December 2017 8 February 2018 www.ashmoregroup.com Overview Accelerating growth and outperformance across Emerging Markets GDP growth driven by exports,
More informationANALYST & INVESTOR PRESENTATION
ANALYST & INVESTOR PRESENTATION Interim results for the 6 months ended 31 August 2017 11 October 2017 Strong results in challenging market Financial highlights Revenues of 1.45bn (2016 : 1.45bn) Group
More informationInterim results 6 months ended 31 July September 2018
Interim results 6 months ended 31 July 2018 25 September 2018 1 Forward-looking statements This presentation contains certain forward-looking statements with respect to the financial condition, results
More informationResults Presentation Half year ended 31 March Thursday 25 May 2017
Results Presentation Half year ended 31 March 2017 Thursday 25 May 2017 Agenda 1. Highlights Paul Zwillenberg, CEO 2. Financial Performance Tim Collier, CFO 3. Strategy and Business Update Paul Zwillenberg,
More informationFinancials. Mike Powell Group Chief Financial Officer
Financials 98 Group income statement 99 Group statement of comprehensive income 99 Group statement of changes in equity 100 Group balance sheet 101 Group cash flow statement 102 Notes to the consolidated
More informationTarsus Group plc ( Tarsus, the Company or the Group ) Interim results for six months to 30 June 2017
Tarsus Group plc ( Tarsus, the Company or the Group ) Interim results for six months to 30 June 2017 Tarsus, the international business-to-business media group, reports significant progress. The Quickening
More informationGroup results 2014/15 (on a continuing operations basis) On a continuing operations basis 2014/15
Financial review The reported year has been both an extremely challenging year for Tesco and a year in which we began a process of considerable change. Against this backdrop we delivered sales of 70bn
More informationExcellent progress through a focus on markets that offer organic growth, long-term contracts and improved margins
The strategic outsourcing company Excellent progress through a focus on markets that offer organic growth, long-term contracts and improved margins Full year results presentation 20 May 2013 Ruby McGregor-Smith
More informationEABL F14 Full Year Results Media Briefing. 7 th August 2014
EABL F14 Full Year Results Media Briefing 7 th August 2014 Outline of the Full Year Results Briefing F14 Full Year Review Charles Ireland Financial Performance Tracey Barnes Summary and Outlook Charles
More informationChief Financial Officer s Report Jonny Mason
Chief Financial Officer s Report Jonny Mason Financial Resources Generating returns for our stakeholders through effective management of our financial resources. Group revenue in, at 1,135.1m, was up 3.7%
More information