Business
Full Year Results 2022
Full Year Results 2022.
About this update from Restore Plc
[{"type":"text","content":"\n \n \n 16 March 2023\n \n \n \n Restore plc\n \n \n \n (\"Restore\" or the \"Group\" or \"Company\")\n \n \n \n \n \n \n Full Year 2022 Audited Results\n \n \n \n \n \n \n \n \n \n Achieving continued growth and demonstrating strength\n \n \n \n \n \n \n \n \n Restore plc (AIM: RST), the UK's leading provider of digital and information management and secure lifecycle services, is pleased to provide its audited results for the year ended 31 December 2022.\n \n \n Restore achieved another year of revenue and profit growth, with revenue up 19.1% to £279.0 million, adjusted EBITDA up 9.8% to £81.5 million, adjusted profit before tax increasing 7.6% to £41.0 million and statutory profit before tax increasing 1.3% to £23.3 million.\n \n \n \n SUMMARY OF RESULTS\n \n \n \n \n \n \n \n Continuing operations\n \n \n \n \n \n \n \n \n \n \n \n \n 2022\n \n \n \n \n \n \n 2021\n \n \n \n \n \n \n Change\n \n \n \n \n \n \n \n Revenue\n \n \n \n \n \n \n \n \n \n \n \n £279.0m\n \n \n \n \n £234.3m\n \n \n \n \n +19.1%\n \n \n \n \n \n \n Statutory profit before tax\n \n \n \n \n \n \n \n \n \n \n \n £23.3m\n \n \n \n \n £23.0m\n \n \n \n \n +1.3%\n \n \n \n \n \n \n Adjusted profit before tax1\n \n \n \n \n \n \n \n \n \n \n \n £41.0m\n \n \n \n \n £38.1m\n \n \n \n \n +7.6%\n \n \n \n \n \n \n Adjusted EBITDA2\n \n \n \n \n \n \n \n \n \n \n \n £81.5m\n \n \n \n \n £74.2m\n \n \n \n \n +9.8%\n \n \n \n \n \n \n Net debt3\n \n \n \n \n \n \n \n \n \n \n \n £103.5m\n \n \n \n \n £100.8m\n \n \n \n \n +2.7%\n \n \n \n \n \n \n Adjusted basic earnings per share4\n \n \n \n \n \n \n \n \n \n \n \n 24.3p\n \n \n \n \n 23.2p\n \n \n \n \n +4.7%\n \n \n \n \n \n \n Statutory basic earnings per share\n \n \n \n \n \n \n \n \n \n \n \n 12.3p\n \n \n \n \n 8.7p\n \n \n \n \n +41.4%\n \n \n \n \n \n \n Dividend per share\n \n \n \n \n \n \n \n \n \n \n \n 7.4p\n \n \n \n \n 7.2p\n \n \n \n \n +2.8%\n \n \n \n \n \n \n \n \n \n \n \n \n BUSINESS AND STRATEGIC HIGHLIGHTS\n \n \n \n ·\n Strong organic and acquisitive growth despite challenging macroeconomic conditions, demonstrating resilient nature of the business and excellent service delivery.\n \n \n - Records Management net box growth of 1.6% (2021: 1.3%) in line with long term growth strategy increasing boxes under management to 22.4 million boxes with utilisa...