Financial and Operational highlights:
- New contract sales with total value of £2.4 billion (annual value £1.3 billion) and contract retention rates of c90%
- Revenue increased by 4.0% to £6.4 billion. Emerging markets revenues up 8.6%; North America up 5.8%; UK down 3.0%; Europe up 2.6%
- PBITA increased by 5.7% to £427 million (2014: £404 million)
- Earnings of £227 million (2014: £199 million), up 14.1%
- Underlying operating cash flow was £460 million compared with £528 million in 2014, mainly due to a temporary increase in working capital associated with strong revenue growth in the second half of 2015 and transition to a UK shared service centre
- Significant progress with portfolio management, increasing strategic focus and raising £281 million to date; further businesses identified for disposal expected to generate additional proceeds of between £250-£350 million over the next 12 -24 months
- Net debt at December 2015 was £1,782 million (2014: £1,639 million). Net debt/EBITDA: 3.3x (2014: 3.0x). The business plan supports a reduction in net debt to a level of net debt /EBITDA of 2.5x or lower in the next 12-24 months
- The Board recommends a final dividend of 5.82p per share (2014: 5.82p). Full year dividend of 9.41p per share up 1.8%
