Creating Sustainable Value For All
Interim ResultsHalf Year Ended 30 November 2016
24 January 2017
1
Solid set of interim results for the Group. Excluding the impact of currency and challenging macro conditions results only slightly lowerStrong balance sheet with net debt at 1.5 x EBITDA
Interim dividend increased 2.3%
Successful SAP go-live in AfricaGroup Highlights
Strong Group portfolio and a new product pipeline Brand shares maintained or grown in major markets and categoriesFinancial Highlights
Reported results before exceptional items1 | Half year to 30 November 2016 | Half year to 30 November 2015 | Reported Change % | Constant Currency % change3 | Like for Like % change4 |
Revenue2 | £378.2m | £385.9m | (2.0%) | (2.6%) | (2.6%) |
Operating profit | £41.8m | £45.2m | (7.5%) | (8.4%) | (8.4%) |
Profit before tax | £40.2m | £42.1m | (4.5%) | (5.5%) | (5.5%) |
Adjusted basic earnings per share | 6.50p | 7.28p | (10.7%) | ||
Interim dividend per share | 2.67p | 2.61p | 2.3% | ||
Net debt5 | (£191.3m) | (£191.0m) |
Notes:
1 Exceptional items before tax (2016: costs £15.3m; 2015: costs £2.1m).
2 Excludes joint ventures revenue of £85.6m (2015: £90.5m).
3 Constant currency comparison (2015 results retranslated at 2016 exchange rates).
4 Like for like comparison after adjusting 2015 for constant currency and 2016 for acquisitions and disposals in current and prior period.
5 Net debt, above and hereafter, is defined as cash, short-term deposits and current asset investments, less bank overdrafts and borrowings .
Revenue Bridge (£m)
0.5(1.5)
(9.0) 2.3 385.9 378.2 Revenue 30 Nov 2015 Trading - Africa Trading - Asia Trading - Europe* Foreign Exchange Revenue 30 Nov 2016Notes:
*Europe revenues lower on a constant currency basis principally due to the Beauty division being affected by lower UK performance of St Tropez as a result of the poor summer and lower sales of edible oils in Greece.
PZ Cussons plc published this content on 24 January 2017 and is solely responsible for the information contained herein.
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