Business
Half-year Report
Half-year Report.
About this update from Van Elle Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 5155A Van Elle Holdings PLC 22 January 2020 \n\n \nVan Elle Holdings plc\n \n22 January 2020\n \nInterim results for the six months ended 31 October 2019\n \nVan Elle Holdings plc (\"Van Elle\", the \"Company\" or the \"Group\"), the leading geotechnical engineering company offering a wide range of ground engineering techniques and services to customers in a variety of UK construction end markets, announces its interim results for the six months ended 31 October 2019.\n \nHighlights\n\n\n\n\n \n\n\n6 months ended 31 Oct 2019\n\n\n6 months ended 31 Oct 2018\n\n\nChange\n%\n\n\n\n\nRevenue (£m)\n\n\n48.5\n\n\n42.9\n\n\n13.1\n\n\n\n\nUnderlying* EBITDA (£m)\n\n\n3.7\n\n\n5.2\n\n\n(28.8)\n\n\n\n\nReported EBITDA (£m)\n\n\n3.5\n\n\n4.8\n\n\n(27.1)\n\n\n\n\nUnderlying* operating profit (£m)\n\n\n1.5\n\n\n3.0\n\n\n(50.0)\n\n\n\n\nReported operating profit (£m)\n\n\n1.2\n\n\n2.6\n\n\n(53.8)\n\n\n\n\nUnderlying* profit before taxation (£m)\n\n\n1.1\n\n\n2.8\n\n\n(60.7)\n\n\n\n\nReported profit before taxation (£m)\n\n\n0.9\n\n\n2.4\n\n\n(62.5)\n\n\n\n\nUnderlying* earnings per share (p)\n\n\n1.2\n\n\n2.8\n\n\n(57.1)\n\n\n\n\nReported earnings per share (p)\n\n\n0.9\n\n\n2.4\n\n\n(62.5)\n\n\n\n\nDividend per share (p)\n\n\n0.2\n\n\n1.0\n\n\n(80.0)\n\n\n\n\nOperating cash conversion **(%)\n\n\n41.8%\n\n\n100.3%\n\n\n \n\n\n\n\nReturn on capital employed*** (%)\n\n\n2.8%\n\n\n6.4%\n\n\n \n\n\n\n\n* before share-based payments and exceptional costs\n** defined as cash generated from operations divided by EBITDA less profit on sale of fixed assets\n*** Return on capital employed calculated as underlying operating profit divided by net assets less cash and excluding loans and borrowings\n \nThe October 2019 results are not directly comparable to the previous periods as a result of the adoption of IFRS 16. The impact on the results is not considered to be material and is explained in note 1\nSummary highlights\n· Despite a challenging market backdrop, the benefit of self-help initiatives and revenue growth resulted in an improving performance as the half progressed \n \n· Revenue grew by 13.1% to £48.5m (H1 2019: £42.9m), reflecting growth in the housing and highways markets, contrasted with subdued con...