Business
Financial results for the 53 weeks to 1 April 2023
Financial results for the 53 weeks to 1 April 2023.
About this update from Fuller, Smith & Turner P.l.c. Class A
[{"type":"text","content":"\n\n\n \n15 JUNE 2023\n \nFULLER, SMITH & TURNER P.L.C.\n(\"Fuller's\", the \"Company\", or the \"Group\")\n \nFinancial results for the 53 weeks to 1 April 2023\n \nReturn to strong like for like growth\n \n \nFinancial and Operational Highlights\n\n\n\n\n \n\n\n \n \n\n\n\n\n\n\n\n \n\n\n53 weeks\nended\n1 April \n\n\n52 weeks ended\n26 March\n\n\n\n\n\n\n\n2023\n\n\n2022\n\n\n\n\n\n\n\n£m\n\n\n£m\n\n\n\n\nRevenue and other income\n\n\n336.6\n\n\n253.8\n\n\n\n\nEBITDA1\n\n\n51.8\n\n\n44.3\n\n\n\n\nAdjusted profit before tax2\n\n\n12.7\n\n\n7.2\n\n\n\n\nStatutory profit before tax\n\n\n10.3\n\n\n11.5\n\n\n\n\nBasic earnings per share3\n\n\n12.98p\n\n\n11.59p\n\n\n\n\nAdjusted earnings per share3\n\n\n16.10p\n\n\n9.79p\n\n\n\n\nDividend per share\n\n\n14.68p\n\n\n11.31p\n\n\n\n\nNet debt excluding lease liabilities4\n\n\n132.8\n\n\n131.9\n\n\n\n\n\n\n\n \n\n\n \n\n\n\n\n\n\n\n\n\n\nAll figures above are from continuing operations.\n1 Earnings before interest, tax, depreciation, amortisation, profit on disposal of property, plant and equipment, and separately disclosed items.\n2 Adjusted profit before tax is the profit before tax excluding separately disclosed items.\n3 Per 40p 'A' or 'C' ordinary share. Adjusted EPS is calculated using earnings attributable to equity shareholders after tax excluding separately disclosed items. Basic EPS includes separately disclosed items.\n4 Net debt excluding lease liabilities comprises cash and short-term deposits, bank overdraft, bank loans, debenture stock and preference shares.\n \n· Revenues grew 33% to £336.6 million (FY2022: £253.8 million) as the business recovered from the impact of covid-related restrictions on trade\n· Like for like sales in the year grew by 17.5% compared to prior year, with Central London growing by 40.1%\n· Adjusted profit before tax increased by 76% to £12.7 million (FY2022: £7.2 million) \n· Net debt at £132.8 million (FY2022: £131.9 million) with cash generated by the business funding investment in the estate and returns to shareholders\n· Directors' valuatio...