Business
2018 Full Year Results
2018 Full Year Results.
About this update from Coats Group Plc
[{"type":"text","content":"\n \nRNS Number : 5148R Coats Group PLC 01 March 2019 \n\n1 March 2019\n \nCoats Group plc\n2018 Full Year Results\nCoats Group plc ('Coats,' the 'Company' or the 'Group'), the world's leading industrial thread manufacturer, announces its unaudited Full Year Results for the year ended 31 December 2018. \n \n\n\n\n \nContinuing operations 4\n\n\n2018 \n\n\n2017 (restated 5) \n\n\nChange\n\n\nCER change 1\n\n\nOrganic change 1\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n$1,415m\n\n\n$1,356m\n\n\n4%\n\n\n6%\n\n\n3%\n\n\n\n\nAdjusted 1\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nOperating profit \n\n\n\n\n\n$195m\n\n\n$161m\n\n\n21%\n\n\n24%\n\n\n23%\n\n\n\n\nOperating margin \n\n\n\n\n\n13.8%\n\n\n11.8%\n\n\n190bps\n\n\n200bps\n\n\n220bps\n\n\n\n\nBasic earnings per share\n\n\n6.9c \n\n\n5.7c\n\n\n21%\n\n\n\n\n\n\n\n\n\n\nFree cash flow\n\n\n\n\n\n$96m\n\n\n$76m\n\n\n26%\n\n\n\n\n\n\n\n\n\n\nReturn on capital employed (ROCE)\n\n\n43%\n\n\n35%\n\n\n800bps\n\n\n\n\n\n\n\n\n\n\nReported 3, 4 \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nOperating profit\n\n\n$147m\n\n\n$154m\n\n\n(5)%\n\n\n\n\n\n\n\n\n\n\nBasic earnings per share\n\n\n3.9c \n\n\n5.1c\n\n\n(25)%\n\n\n\n\n\n\n\n\n\n\nNet cash generated by operating activities 2\n\n\n$102m\n\n\n$(232)m\n\n\nn/a\n\n\n\n\n\n\n\n\n\n\nFull year dividend per share\n\n\n1.66c\n\n\n1.44c\n\n\n15%\n\n\n\n\n\n\n\n\n\n\n(Loss)/profit from discontinued operations\n\n\n$(16)m\n\n\n$10m\n\n\nn/a\n\n\n\n\n\n\n\n\n\n \nFinancial highlights \n· Revenue growth of 6% on a CER basis (4% reported), with 3% organic growth and a 3% contribution from the acquisition of Patrick Yarn Mill.\n· Continued organic revenue growth in Apparel and Footwear (thread up 4%) and accelerated organic growth in Performance Materials (up 7%). \n· Adjusted operating profit up 24% on a CER basis; adjusted operating margin up 200bps to 13.8%.\n· Adjusted EPS up 21% to 6.9 cents as a result of higher adjusted operating profits, a further reduction in effective tax rate, a lower pension finance charge, with some offset from foreign exchange and interest.\n· Adjusted free cash flow o...