Business
Half Year Results
Half Year Results.
About this update from Videndum Plc
[{"type":"text","content":"\n \nRNS Number : 3249I Vitec Group PLC (The) 08 August 2019 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO THE SAME WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.\n \n8 August 2019\nThe Vitec Group plc\nHalf Year Results to 30 June 2019\nResults in line with expectations\nThe Vitec Group plc (\"Vitec\" or \"the Group\"), the international provider of premium branded products and solutions to the fast moving and growing \"image capture and content creation\" market, announces its results for the half year ended 30 June 2019.\n\n\n\nResults1\n\n\n\n\n\n\n\n\n% change\n\n\n\n\nH1 2019\n\n\nH1 2018\n\n\nAs reported\n\n\nConstant \nFX rates\n\n\n\n\nRevenue\n\n\n£184.2m\n\n\n£183.3m\n\n\n+0.5%\n\n\n-2.2%\n\n\n\n\nAdjusted operating profit*\n\n\n£25.8m\n\n\n£25.5m\n\n\n+1.2%\n\n\n+0.5%\n\n\n\n\nAdjusted operating margin*\n\n\n14.0%\n\n\n13.9%\n\n\n\n\n\n\n\n\n\n\nAdjusted profit before tax*\n\n\n£23.5m\n\n\n£24.5m\n\n\n-4.1%\n\n\n-4.0%\n\n\n\n\nAdjusted basic earnings per share*\n\n\n39.9p\n\n\n39.5p\n\n\n+1.0%\n\n\n\n\n\n\n\nInterim dividend per share\n\n\n12.3p\n\n\n11.5p\n\n\n+7.0%\n\n\n\n\n\n\n\nFree cash flow*\n\n\n£16.0m\n\n\n£16.4m\n\n\n\n\n\n\n\n\n\n\nNet debt2\n\n\n£108.4m\n\n\n£43.0m\n\n\n\n\n\n\n\n\n\n\nStatutory results\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nOperating profit \n\n\n£18.9m\n\n\n£20.7m\n\n\n-8.7%\n\n\n\n\n\n\n\nOperating margin\n\n\n10.3%\n\n\n11.3%\n\n\n\n\n\n\n\n\n\n\nProfit before tax\n\n\n£16.6m\n\n\n£19.7m\n\n\n-15.7%\n\n\n\n\n\n\n\nBasic earnings per share\n\n\n27.0p\n\n\n38.2p\n\n\n-29.3%\n\n\n\n\n\n\n1 H1 2019 results have been prepared under IFRS 16 'Leases'. Prior period comparatives have not been restated.\n2 Net debt as at June 2019 includes a £21.6 million impact from IFRS 16 'Leases' compared to June 2018.\nFinancial highlights\n· Robust performance in a non-Olympic year\n· Continued strength in reported adjusted operating margin*, towards our stated mid teen goal\n· As expected, increase in net debt from acquisitions and IFRS 16 impact, with capacity for further organic and M&A investment\n· Interim dividend growth of 7.0% to 12.3p per share\nOperational highlights\n· Good progress executing strategy to d...