Business
Preliminary Financial Results
Preliminary Financial Results.
About this update from Smiths News Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2832R\n Smiths News PLC\n 04 November 2021\n \n \n \n \n This announcement contains inside information\n \n \n \n \n \n Smiths News plc\n \n \n (the 'Company')\n \n \n \n \n \n Audited Preliminary Results Announcement for the 52 weeks ended 28 August 2021\n \n \n \n \n \n Performance ahead of expectations, with dividends restored\n \n \n Headlines\n \n \n · \n Performance ahead of full year market expectations\n \n \n · \n Resilient sales in line with pre-COVID trends and medium term planning forecasts\n \n \n · \n Above target cost savings of £6.0m across operations and central support functions\n \n \n · \n Commenced new sustainability strategy aligned to ESG goals\n \n \n · \n Bank Net Debt \n of £53.2m, driven by cash generation of a strong operational performance\n \n \n · \n Final dividend of 1.0p, making a full year dividend of 1.5p\n \n \n · \n Recent inflationary pressures on distribution costs tempering expectations for FY2022\n \n \n \n \n \n Financial performance\n \n \n \n \n \n \n \n \n Adjusted continuing results(7)\n \n \n \n \n FY2021\n \n \n \n \n FY2020\n \n \n \n \n % Change\n \n \n \n \n \n \n Revenue\n \n \n \n \n £1,109.6m\n \n \n \n \n £1,164.5m\n \n \n \n \n -4.7%\n \n \n \n \n \n \n Adjusted EBITDA (excl. IFRS 16 leases)(4)\n \n \n \n \n £42.6m\n \n \n \n \n £39.1m\n \n \n \n \n 9.0%\n \n \n \n \n \n \n Profit before tax\n \n \n \n \n £30.9m\n \n \n \n \n £27.9m\n \n \n \n \n 10.8%\n \n \n \n \n \n \n Earnings per share\n \n \n \n \n 10.8p\n \n \n \n \n 9.7p\n \n \n \n \n 11.3%\n \n \n \n \n \n \n Free cash flow(2)\n \n \n \n \n £24.0m\n \n \n \n \n £10.9m\n \n \n \n \n 120.2%\n \n \n \n \n \n \n Bank Net Debt(5)\n \n \n \n \n £53.2m\n \n \n \n \n £79.7m\n \n \n \n \n - 33.2%\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Continuing statutory results(7)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Revenue\n \n \n \n \n £1,109.6m\n \n \n \n \n £1,164.5m\n \n \n \n \n -4.7%\n \n \n \n \n \n \n Profit before tax\n \n \n \n \n £30.6m\n \n \n \n \n £14.8m\n \n \n \n \n 106.8%\n \n \n \n \n \n \n Earnings per share\n \n \n \n \n 10.8p\n \n \n \n \n 4.9p\n \n \n \n \n 120.4%\n \n \n \n \n \n \n Net debt (incl. IFRS 16 leases)(5)\n \n \n...