Financial Highlights

Financial highlights*:

  • Revenue (including the benefit of a 53rd week) up 17.6% at £1,464.5m (2017: £1,245.1m)
  • Like-for-like revenue ahead by 12.7%
  • Adjusted Group operating margin of 6.3% (2017: 6.1%)
  • Adjusted profit before tax increased 22.4% to £92.4m (2017: £75.5m)
  • Adjusted earnings per share on continuing operations 19.9% higher at 145.0p (2017: 120.9p)
  • Full year dividend increased by 21.8% to 53.7p (2017: 44.1p)
  • Net funds of £20.6m (2017: net debt of £11.0m)
  • Return on capital employedincreased to 20.3% (2017: 19.0%)


  • Statutory profit before tax up 13.5% to £88.0m (2017: £77.5m)
  • Statutory earnings per share on continuing operations 11.0% higher at 137.8p (2017: 124.2p)


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*Adjusted and like-for-like references throughout this statement refer to non-IFRS measures or Alternative Performance Measures (‘APMs’).  Definitions and reconciliations of the APMs to IFRS measures are provided in Note 11 to the annual report and accounts.

† 2018 was a 53 week accounting period.  For comparative purposes, like-for-like revenue excludes the 53rd week in the current year as well as the contribution from acquired businesses prior to the anniversary of their acquisition.

‡ Return on capital employed is defined as adjusted operating profit divided by the sum of average opening and closing net assets, net (debt)/funds, pension liabilities and deferred tax