Financial Summary

Company Background


Primary Country Listing	UK
Status	Full
Index	FTSE All Share, FTSE 250
Sector	Support Services
Activities	Speciality plastic, fibre, foam and packaging products supplier

Results for year ended 31 December 2019

	FY 2019 After applying IFRS 16	FY 2019 Before applying IFRS 16	FY 2018¹	% change Actual FX²	% change Constant FX²
Revenue	£974m	£974m	£1026m	-5	-6
Adjusted³ operating profit	£88m	£85m	£91m	-4	-5
Adjusted³ pre-tax profit	£73m	£73m	£80m	-9	-10
Adjusted³ net income⁴	£59m	£59m	£64m	-9	-11
Adjusted³ basic earnings per share	21.3p	21.2p	23.1p	-8	-10
Dividend per share	20.7p	20.7p	20.7p	-	n/a
Net debt	£284.4m	£233.7m	£240.1m	+18	n/a
Net debt to EBITDA	2.0x	1.9x	1.8x	n/a	n/a
Free cash flow⁵	£40.7m	£28.6m	£50.2m	n/a	n/a

Reported operating profit	£80m	£78m	£47m	+69	+66
Reported pre-tax profit	£66m	£66m	£36m	+80	+76
Reported net income⁴	£41m	£41m	£28m	+47	+46
Reported basic earnings per share	14.7p	14.6p	9.3p	+58	+58

¹ FY 2018 results are unadjusted for IFRS 16 (see Basis of Preparation)
² Y-o-Y changes are calculated by comparing data for FY 2019 after applying IFRS 16 with data for FY 2018 (which is unadjusted for IFRS 16)
³ Before amortisation of acquired intangible assets and exceptional and other adjusting items
⁴ Net income is defined as profit after tax, before minority interests
⁵ A reconciliation of free cash flow is set out in the Financial Review

Annual Report

Annual Report 2019 PDF 16.40MB