12 months to 30 April 2016
|
|
Change (reported) |
Change (constant currency) |
|
|
Revenue |
£4,066m |
6% |
9% |
|
Adjusted operating profit(1) |
£379m |
13% |
16% |
|
Adjusted profit before tax(1) |
£332m |
12% |
15% |
|
Profit before tax |
£201m |
1% |
3% |
|
Adjusted EPS(1) |
27.4p |
12% |
16% |
|
Dividend per share |
12.8p |
12% |
12% |
|
Return on sales(4) |
9.3% |
+50bps |
+50bps |
|
ROACE(5) |
15.4% |
+80bps |
+70bps |
Highlights
Continued outperformance of the market
o Strong organic corrugated box volume growth of +3.1%
o Growth in all regions
o Excellent growth from pan-European customers and e-commerce
Substantial investment to further strengthen the business
o Five acquisitions completed in the year, performing ahead of expectations
o Capital invested in-line with strategic priorities
Continued delivery against our medium-term targets
o Sustainable financial returns
o Significant margin progression and record ROACE
Further geographic expansion
o New or expanded presence in 13 countries
o Proposed acquisition of Gopaca in Portugal
o Acquisition of Creo - specialist Point of Sale / display
Miles Roberts, Group Chief Executive, commented:
"We are delighted to report another year of strong growth underpinned by ten per cent organic growth in our adjusted operating profit supplemented by six per cent from acquisitions. Strong financial discipline allows us again to deliver on all our priorities. The year has seen the Group further strengthen our offering to pan-European customers, who increasingly require an international partner who not only designs and produces high quality packaging, but also works collaboratively with them to manage their supply chains and drive sales in a multi-channel retail environment. The excellent growth that we have delivered over the last six years demonstrates the success of this strategic focus.
Looking ahead, while economic conditions remain uncertain, our innovation-led offering and the scale of our business means that we are confident about further growth and sustainable returns in the years ahead."
