Business
2017 FULL YEAR RESULTS
2017 FULL YEAR RESULTS.
About this update from Forterra Plc
[{"type":"text","content":"\n \nRNS Number : 6204H Forterra plc 14 March 2018 \n\n14 March 2018 \nFORTERRA PLC\n2017 FULL YEAR RESULTS\nSTRONG PROFIT & CASH PERFORMANCE IN FIRST FULL YEAR AS A PUBLIC COMPANY\nForterra plc, a leading UK producer of manufactured masonry products, announces its results for the year ended 31 December 2017.\n\n\n\n\n \n\n\n2017\n\n\n2016\n\n\nChange\n\n\n\n\n \n\n\n£m\n\n\n£m\n\n\n \n\n\n\n\nPro-forma basis*\n\n\n \n\n\n \n\n\n \n\n\n\n\nRevenue\n\n\n331.0\n\n\n294.5\n\n\n12.4%\n\n\n\n\nEBITDA before exceptionals\n\n\n75.4\n\n\n69.4\n\n\n8.6%\n\n\n\n\nOperating profit before exceptionals\nPBT before exceptionals\n\n\n64.5\n61.1\n\n\n59.0\n53.1\n\n\n9.3%\n15.1%\n\n\n\n\nEPS before exceptionals (pence)\n\n\n24.5\n\n\n21.0\n\n\n16.7%\n\n\n\n\nOperating cash flow before exceptionals\n\n\n90.2\n\n\n69.8\n\n\n29.2%\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nStatutory basis\n\n\n \n\n\n \n\n\n \n\n\n\n\nRevenue\n\n\n331.0\n\n\n294.5\n\n\n \n\n\n\n\nOperating profit\nProfit before tax\nEPS (pence)\nCash generated from operations\n\n\n64.5\n59.3\n23.8\n90.2\n\n\n51.3\n37.1\n13.8\n56.2\n\n\n \n \n\n\n\n\nTotal dividend (pence)\n\n\n9.5\n\n\n5.8\n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n*Pro-forma basis is stated after making the following adjustments:\n(i) deducting an additional £1.2m of overheads in 2016 to make it comparable with the plc cost structure in 2017;\n(ii) replacing finance charges in 2016 and recalculating assuming that the debt structure at IPO was in place throughout the year; and\n(iii) excluding exceptional items totalling £1.8m in 2017 and £8.9m in 2016 as detailed in note 3.\nReconciliation from pro-forma basis to the statutory basis is included within the business review.\n \nHIGHLIGHTS\n \n· Revenue increase of 10.4% (excluding benefit of Bison acquisition) due to strong demand in the new build residential market leading t...