Financial highlights

Year ended 31 March 2024

Total revenue £m

£392.1m

 

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Definition

Reported Group revenue for the year.

Performance

Total revenue for the year decreased by 11.1% on a reported basis and by 6.0% on a constant currency like for like basis.

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Underlying operating profit £m

£43.2m

 

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Definition

Reported operating profit as adjusted for IAS 19R administrative expenses, acquisition related costs and exceptional operating items, as defined in note 8 to the financial statements

Performance

Underlying operating profit decreased by £4.1m (8.7%). This reflected a robust performance in the UK and Ireland, offset by challenging market conditions in South Africa.

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Dividends per share p

10.2p

 

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Definition 

Total of the interim dividend and the proposed final dividend for the financial year

Performance 

In line with the Board’s progressive, albeit prudent, dividend policy, although earnings reduced in the year, the dividend per share has been maintained at 10.2p per share.

Return on sales %

11.0%

 

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Definition

Underlying operating profit as a percentage of revenue

Performance

Return on sales increased by 300bps to 11.0%.

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Underlying return on capital employed %

16.4%

 

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Definition

Underlying operating profit on a pre IFRS 16 basis expressed as a percentage of the average of opening and closing underlying capital employed (as defined in note 8 to the financial statements)

Performance

Underlying ROCE remained above the strategic target of 15% over the economic cycle.

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Underlying operating cash flow £m

£56.4m

 

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Definition 

Cash generated from continuing operations adjusted for cash flows from exceptional items and pension fund deficit recovery contributions, as defined in note 8 to the financial statements

Performance 

Underlying operating cash generation increased to £56.4m reflecting a strong trading performance and a reduced investment into working capital.