Interim results for the six months ended 28 February 2010
April 27th 2010
Connaught, a market leading provider of integrated services to both the public and private sector in the UK, today announces its interim results for the 6 months to 28th February 2010. We are pleased to be able to report another strong trading performance across all sectors of the business.
Highlights
- Revenue of £355m, up 17% (H1 2009: £304m)
- Adjusted Ebita of £23.8m*, up 18% (H1 2009: £20.2m)
- Operating profit of £13.8m, down 16% (H1 2009: £16.4m)
- Adjusted Profit before Tax of £20.7m*, up 20% (H1 2009: £17.3m)
- Profit before Tax of £10.7m, down 21% (H1 2009: £13.5m)
- Adjusted EPS of 10.9p*, up 12% (H1 2009: 9.7p)
- EPS of 5.6p, down 26% (H1 2009: 7.6p)
- Dividend of 1.308p, up 20% (H1 2009: 1.09p)
- Group adjusted operating margin* increased to 6.7% (H1 2009: 6.6%)
- Rolling 12 month cash conversion of 72% (H1 2009: 62%)
- Order book £2.9bn (H1 2009: £2.7bn)
- Pipeline £4.9bn (H1 2009: £3.6bn)
Mark Tincknell, Chief Executive, said:
"This is another good set of results as Connaught continues its strong growth in all three of its divisions. Specifically, our client base is looking to us to help them cut costs in the face of budget constraints, and with our integrated business model we are well positioned to deliver these savings. This trend is reflected in our order book which is growing at a fast rate, and I look forward with excitement and confidence."
View the detailed interim results in our Investor news section.
* before exceptional items and amortisation of acquisition intangibles