15 May 2018

We announce our Preliminary Results for 2017/18

This morning we released our Preliminary results for the 52 weeks ended 31 March 2018.

Financial Headlines
- Full year revenue up +3.6%; H2 revenue up +5.3%
- Trading profit growth of +5.1% to £123.0m
 - Adjusted profit before tax up +5.9% to £78.6m
- Statutory profit before tax up +74.2% to £20.9m; basic earnings per share 0.9 pence
- Net debt £496.4m; a £26.8m reduction on prior year
- Net debt/EBITDA reduced to 3.56x
- Improvement in aggregate pensions surplus to £317.0m
- Ahead of revenue, Trading profit and Net debt market expectations for the full year
- Extended revolving credit facility and launched offering of new £300m 5 year Senior Secured fixed rate notes

Operational Headlines
- International sales increased +25% in full year
- Strategic partnerships with Nissin and Mondelez International delivered 55% of revenue growth
- Batchelors now top performing brand in portfolio with revenue up +11%
- Now clear No. 1 market leader in the Group’s five main categories

To read and download the full release in PDF format, please follow this link

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