James Cropper plc
(the “Company”)
The advanced materials and paper products group, is pleased to announce its
Half – year results to 1 October 2016
|
|
Half – year to 1 October 2016 |
Half – year to 26 September 2015 |
Full – year to 2 April 2016 |
|
|
£m |
£m |
£m |
|
Revenue* |
45.4 |
42.1 |
87.9 |
|
Operating profit before interest (excluding IAS 19 and net exceptional costs)** |
2.6 |
1.8 |
6.3 |
|
Profit before tax (excluding IAS 19) |
2.4 |
1.7 |
5.2 |
|
Impact of IAS 19 |
(0.4) |
(0.6) |
(1.3) |
|
Profit before tax (after IAS 19) |
2.0 |
1.0 |
3.9 |
|
Earnings per share – basic |
17.4p |
8.5p |
32.6p |
|
Earnings per share – diluted |
17.2p |
8.3p |
31.8p |
|
Dividend per share declared |
2.5p |
2.2p |
9.3p |
|
|
|
|
|
|
Net borrowings |
(6.6) |
(8.9) |
(7.3) |
|
Equity shareholders' funds |
16.0 |
20.0 |
26.7 |
|
Gearing % – before IAS 19 deficit |
19% |
29% |
22% |
|
Gearing % – after IAS 19 deficit |
41% |
45% |
27% |
|
Capital expenditure |
2.1 |
2.2 |
4.1 |
* Includes Business Insurance Income of £750,000 in full year to 2 April 2016
** Net exceptional costs of £0.77m in full year to 2 April 2016
Highlights
· Sales in TFP up 21% on comparable period, up 5% in Paper
· PBT (prior to IAS 19) £2.4m up 46% on prior comparable period
· EPS (diluted) up 107% to 17.2p from 8.3p on prior period comparative
· 3DP launches business to the market
· Investment remains an important aspect for profitable growth