Business
Half-year Report
Half-year Report.
About this update from Restore Plc
[{"type":"text","content":"\n \nRNS Number : 2851Q Restore PLC 11 September 2017 \n\n11 September 2017\n \nRESTORE PLC\n \nHalf Year Results 2017\n \nRestore plc (\"Restore\" or \"the Company\"), the UK office services provider, announces its unaudited half year results for the six month period ended 30 June 2017.\n \nFinancial Highlights:\n \n\n\n\n\nADJUSTED RESULTS - Continuing operations\n\n\nHY 2017\n\n\nHY 2016\n\n\n% Change\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue (£m)\n\n\n86.9\n\n\n55.4\n\n\n57%\n\n\n\n\nEBITDA (£m)*\n\n\n19.5\n\n\n12.3\n\n\n59%\n\n\n\n\nOperating profit (£m)*\n\n\n16.5\n\n\n10.5\n\n\n57%\n\n\n\n\nProfit before tax (£m) *\n\n\n15.3\n\n\n9.6\n\n\n59%\n\n\n\n\nEarnings per share**\n\n\n10.9\n\n\n7.9\n\n\n38%\n\n\n\n\nDividend per share (p)\n\n\n1.67\n\n\n1.33\n\n\n26%\n\n\n\n\nNet debt (£m)\n\n\n76.9\n\n\n29.3\n\n\n\n\n\n\n\n \n* Before amortisation of intangible assets, exceptional items (including exceptional finance costs), share based payments charge and other finance costs\n** Calculated based on the weighted average shares in issue and a standard tax charge\n \n \n\n\n\n\nSTATUTORY RESULTS\n\n\nHY 2017\n\n\nHY 2016\n\n\n\n\nOperating profit (£m)\n\n\n1.3\n\n\n4.5\n\n\n\n\nProfit before tax (£m)\n\n\n0.1\n\n\n3.7\n\n\n\n\nBasic earnings per share (p)\n\n\n0.0\n\n\n3.8\n\n\n\n\n \nSummary:\n \n· Group revenue up 57% to £86.9m\n· Document Management revenue up 74%; operating profit up 63%\n· Relocations revenue up 21%; operating profit up 18%\n· Group adjusted profit before tax up 59% to £15.3m\n· Adjusted earnings per share up 38% to 10.9p\n· Good organic growth across both divisions\n· PHS Data Solutions successfully integrated\n· Restore Datashred performance ahead of expectations\n· 7 acquisitions completed since the start of the year\n· Interim dividend per share up 26% to 1.67p\n· Banking facilities increased and extended\n \n \nCommenting on the results Charles Skinner, Chief Executive, said: \n \n\"We continued to make good...