Annual Report and Accounts - Hemscott IR
Annual Report and Accounts - Hemscott IR
Annual Report and Accounts - Hemscott IR
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Financial<br />
Highlights<br />
Operating<br />
Highlights<br />
Group revenue up 1.4%<br />
at £4,845m, down 1.4%<br />
on a like-for-like basis<br />
Adjusted operating<br />
profit, up 4.3% to £327m,<br />
adjusted PBT up 1.1% to<br />
£300m, <strong>and</strong> adjusted EPS<br />
up 2.1% to 95.1p<br />
Sustained adjusted<br />
operating margin at 6.7%<br />
<strong>Report</strong>ed PBT after<br />
exceptional items up<br />
16.2% to £313m<br />
Free cash flow<br />
generated of £242m<br />
Underlying £155m debt<br />
reduction, net debt down<br />
to £452m, <strong>and</strong> financing<br />
ratios further improved<br />
Full year dividend of 25p<br />
per share up 25%,<br />
with adjusted dividend<br />
cover now 3.8 times<br />
Increased BSS synergy<br />
target achieved <strong>and</strong><br />
integration programme<br />
near completion<br />
Toolstation network<br />
expansion to 123<br />
branches <strong>and</strong> Toolstation<br />
Europe trial launched<br />
Gross margin<br />
before synergies<br />
increased by 0.2%<br />
Tight cost control, like-forlike<br />
overheads down 2.3%<br />
Solfex systems acquired<br />
on 30 January 2013<br />
for initial consideration<br />
of £8m<br />
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