Interim Results Presentation
Mon, 10 Sep 2007
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Charles Skinner – Chief Executive
Yvonne Monaghan – Finance Director
Financial Results
| |
2007 |
2006 |
Change |
| |
|
|
|
| Revenue* |
£175.3m |
£171.2m |
2.4% |
| |
|
|
|
| Adjusted Operating Profit** |
£12.2m |
£16.3m |
(25%) |
| |
|
|
|
| Adjusted Operating Margin** |
7.0% |
9.5% |
n/a |
| |
|
|
|
| Exceptional Items |
(17.9m) |
£6.9m |
n/a |
| |
|
|
|
| Adjusted PBT** |
£7.0m |
£11.6m |
(40%) |
| |
|
|
|
| Adjusted EBS** |
8.1p |
13.8p |
(41%) |
| |
|
|
|
| Dividend per share |
3.0p |
4.6p |
(35%) |
| |
|
|
|
All figures are continuing
*Excluding costs recharged to customers
** Before intangibles amortisation (excluding software) and exceptional items
Operating Profit Bridge
| |
£m |
| |
|
| 2006 Adjusted Operating Profit** |
16.3 |
| Increase in main business streams |
1.4 |
| |
17.7 |
| |
|
| Less additional rent following 2006 sale and leaseback |
(0.9) |
| Net increase in Group / allocated costs |
(0.8) |
| |
16.0 |
| |
|
| Reduction in Non Core Businesses |
|
| SLS / AR / JWE |
(3.8) |
| |
|
| 2007 Adjusted Operating Profit** |
12.2 |
| |
|
** Before intangibles amortisation(excluding software) and exceptional items
Highlights
- Johnsons Apparelmaster showing good sales growth
- Corporatewear increased revenue by 6%
- Retail drycleaning improved profitability on slightly reduced sales
- Facilities Management trading steadily
- Stalbridgeloss** in the first half of £1.6m (2006: £1.8m profit)
All figures are continuing
*Excluding costs recharged to customers
** Before intangibles amortisation (excluding software) and exceptional items