Caffyns plc
Preliminary Results for the year ended 31 March 2019
Summary
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2019 |
Restated 2018 |
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£'000 |
£'000 |
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Revenue |
209,246 |
215,868 |
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Underlying* EBITDA |
3,982 |
3,510 |
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Underlying* profit before tax |
1,445 |
1,390 |
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Loss/(profit) before tax |
(428) |
1,165 |
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p |
p |
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Underlying* earnings per share |
35.3 |
45.6 |
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(Deficit)/earnings per share |
(21.0) |
38.2 |
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Proposed final dividend per ordinary share |
15.0 |
15.0 |
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Dividend per share for the year |
22.5 |
22.5 |
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* Underlying profit before tax for the year represents loss before tax of £428,000 adjusted for non-underlying charges of £1,873,000 (see note 5). Underlying results exclude items that have non-trading attributes due to their size, nature or incidence. Underlying EBITDA represents Underlying profit before tax adjusted for interest charges of £1,181,000 (see note 6) and depreciation charges of £1,356,000 (see notes 11 and 12). |
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Overview
· Like-for-like new car unit sales down 10.0% against a 2.8% fall in our market sector
· Like-for-like used car unit sales up 5.9% against 2018
· Aftersales revenue up 7.4% against 2018
· Revenue down 3.1% to £209.2 million
· Underlying profit before tax increased to £1.45 million (2018: £1.39 million)
· Recommended dividend per ordinary share for the year maintained at 22.5 pence (2018: 22.5 pence)
· Property portfolio revaluation as at 31 March 2019 showing an £11.2 million (2018: £10.3 million) surplus to net book value (not recognised in the accounts)
Commenting on the results, Simon Caffyn, Chief Executive said:
“Despite a challenging year, underlying profit before tax increased to £1.45 million from £1.39 million in the previous year.“