Business
FY14 Half-Yearly Financial Report
FY14 Half-Yearly Financial Report.
About this update from Rs Group Plc
[{"type":"text","content":"\n \nRNS Number : 9785S Electrocomponents PLC 14 November 2013 \n \n\nFY14 Half-Yearly Financial Report\n \nElectrocomponents plc, the world's leading high service distributor of electronics and maintenance products, today announces its results for the six months ended 30 September 2013.\n \nSUMMARY OF RESULTS\n \n\n\n\n\n\n\n\nH1 2013/14\n \n\n\nH1 2012/13\nAs restated(3)\n\n\nChange\n\n\n\n\nSales\n\n\n£635.4m\n\n\n£606.5m\n\n\n 1.1% (1)\n\n\n\n\nHeadline profit before tax (2) \n\n\n£44.6m\n\n\n£39.2m\n\n\n 13.8%\n\n\n\n\nReported profit before tax \n\n\n£44.6m\n\n\n£36.7m\n\n\n 21.5%\n\n\n\n\nHeadline earnings per share (2)\n\n\n7.2p\n\n\n6.2p\n\n\n 16.1%\n\n\n\n\nHeadline free cash flow (2)\n\n\n£36.0m\n\n\n£24.0m\n\n\n 50.0%\n\n\n\n\nInterim dividend per share\n\n\n5.0p\n\n\n5.0p\n\n\n -\n\n\n\n\n(1) Sales growth, unless otherwise stated, is adjusted for trading days and currency movements (\"underlying sales growth/decline\"). Additional trading days and currency movements increased Group reported sales by around £22m\n(2) Headline measures of profitability and cash flow are defined as the relevant reported profit/cash flow measure before reorganisation costs/cash flows\n(3) Restated for the changes in IAS19R Employee Benefits. For further details refer to Basis of Preparation\n \nFinancial Highlights\n· Group underlying sales growth of 1%, with 3% International growth and 3% UK decline\n· International driven by 3% growth in both Europe and North America, with Asia Pacific flat\n· UK sales trends improved through the period\n· Gross margin stable at 45.4%, operating costs grew by 1% at constant currency\n· Group return on sales increased by 0.5% points to 7.4%, with contribution increasing in all regions\n· Headline profit before tax(2) increased by 14%, with 10% points due to extra trading days and currency \n· ...