Business
Interim Results for 6 months ended 31 Jan 2018
Interim Results for 6 months ended 31 Jan 2018.
About this update from Volution Group Plc
[{"type":"text","content":"\n \nRNS Number : 0620I Volution Group plc 19 March 2018 \n\n \nMonday 19 March 2018\n \nVOLUTION GROUP PLC\nINTERIM RESULTS FOR THE SIX MONTHS ENDED 31 JANUARY 2018\n Further progress with revenue growth of 11.6% and adjusted EPS up 8.3%.\n \nVolution Group plc (\"Volution\" or \"the Group\" or \"the Company\", LSE: FAN), a leading supplier of ventilation products to the residential and commercial construction markets, today announces its unaudited interim financial results for the 6 months ended 31 January 2018.\n \n\n\n\n\nFinancial results\n\n\n6 months to\n31 January 2018\n\n\n6 months to\n31 January 2017\n\n\nMovement\n\n\n\n\nRevenue (£m)\n\n\n98.7\n\n\n88.5\n\n\n11.6%\n\n\n\n\nAdjusted operating profit (£m)\n\n\n18.3\n\n\n17.1\n\n\n6.7%\n\n\n\n\nAdjusted profit before tax (£m)\n\n\n17.8\n\n\n16.5\n\n\n7.8%\n\n\n\n\nReported profit before tax (£m)\n\n\n10.1\n\n\n8.8\n\n\n14.5%\n\n\n\n\nAdjusted basic and diluted EPS (p)\n\n\n7.08\n\n\n6.54\n\n\n8.3%\n\n\n\n\nReported basic and diluted EPS (p)\n\n\n4.16\n\n\n3.61\n\n\n15.2%\n\n\n\n\nAdjusted operating cash flow (£m)\n\n\n11.8\n\n\n16.4\n\n\n(27.9)%\n\n\n\n\nInterim dividend per share (p)\n\n\n1.46\n\n\n1.35\n\n\n8.1%\n\n\n\n\nNet debt (£m)\n\n\n34.9\n\n\n40.6\n\n\n(5.7)\n\n\n\n\n \nThe Group uses some alternative performance measures to track and assess the underlying performance of the business. These measures include adjusted operating profit, adjusted profit before tax, adjusted basic and diluted EPS and adjusted operating cash flow. For a definition of all the adjusted and non-GAAP measures, please see the glossary of terms in note 20. A reconciliation to the reported measures is set out in note 4.\n \nFinancial highlights\n \n\n\n\n\n●\n\n\nRevenue growth of 11.6% (10.3% at constant currency):\n\n\n\n\n●\n\n\nOrganic revenue growth of 6.3% (5.1% at constant currency), \n\n\n\n\n●\n\n\nInorganic revenue growth of 5.3% (5.2% at constant currency).\n\n\n\n\n●\n\n\nAdjusted operating profit increased by 6.7% to £18.3 million (6.4% at constant currency). \n\n\n\n\n●\n\n\nAs anticipated, adjusted operating profit margin declined by 0.9 percentage points, partly as a consequence of the effect of acquired businesses with lower margins than the Group.\n\n\n\n\n●\n\n\nReported profit before tax of £10.1 million (H1 2017: £8.8 millio...