Strong financial performance
- Group revenue increased by 10.6% to £2.10 billion on a constant currency basis; up 20.0% on a reported basis (2015: £1.75bn)
- Group normalised operating profit up 4.8% to £219.0 million on a constant currency basis (2015: £191.8m)
- Group normalised profit before tax rose by 14.6% to £170.1 million (2015: £148.4m)
- Statutory Group profit after tax grew by 10.0% to £120.0 million (2015: £109.1m) with no exceptional items in either 2016 or 2015
- Year on year normalised EPS growth of 16.7% to 27.3 pence (2015: 23.4p)
- Net debt increased by £133 million to £878 million, reflecting £116 million spent on acquisitions and growth capital expenditure and the retranslation of debt
- Group ROCE increased to 11.9% (2015: 11.7%)
- Free cash flow of £138.6 million, £27.6 million ahead of last year (2015: £111.0m)
- Full year proposed dividend of 12.28 pence, up 8.4% year on year (2015: 11.33p)
Summary of results 2016
| Normalised Basis | IFRS Basis | |||
| 2016 £m |
2015 £m |
2016 £m |
2015 £m |
|
| Revenue | 2,103.7 | 1,753.8 | 2,103.7 | 1,753.8 |
| Operating profit | 219.0 | 191.8 | 185.2 | 166.1 |
| Profit before tax | 170.1 | 148.4 | 136.3 | 122.7 |
| Profit for the year | 142.3 | 121.6 | 120.0 | 109.1 |
| Basic earnings per share (pence) | 27.3 | 23.4 | 23.0 | 20.9 |
| Net debt | 878.0 | 745.5 | 878.0 | 745.5 |
