Financial Results 2021
Revenue 2020: £927.6m
|
Gross profit
|
Underlying operating profit1
|
Finance costs2 2020: £4.1m
|
Net cash/ (debt) (pre-IFRS16)3
£6.9m |
- Gross profit +11.0%
- Gross profit margin +0.8%pts to 8.8%
- Conversion to Underlying operating profit improved to 12.4% (2020: 6.4%)
- Underlying operating profit1 increased by 114.6% to £10.3m from £4.8m
- Finance costs2 reduced to £2.4m (2020: £4.1m)
- Net cash3 of £6.9m, up £15.7m reflecting equity raise of 46.4m, improved trading cash flow and cash collections, and after repayment of deferred VAT of £40.7m
Notes:
- Underlying results exclude goodwill impairment, amortisation of intangible assets arising on business combinations, reorganisation costs and other non-underlying charges
- Excluding refinancing costs
- Presented on a pre-IFRS16 basis which excludes lease liabilities and also excludes refinancing costs