Results for the Year Ended 31 December 2012
Record year with PBTA up 18%. Year end net debt at 8 year low. Dividend increased 15% for 19th consecutive year.
Summary of Results
| 2012 |
|
2011 |
|
| Business Performance | |||
| Revenue (£m) | 555.9 | 528.7 | |
| Fee income (£m) | 478.8 | 452.7 | |
| PBTA(1) (£m) | 60.1 | 50.8 | |
| Adjusted earnings per share (2) (basic) (p) | 19.48 | 16.68 | |
| Adjusted operating cash flow (3) (£m) | 76.0 | 71.1 | |
| Total dividend per share (p) | 6.40 | 5.56 | |
| Statutory reporting | |||
| Profit before tax (£m) | 40.2 | 40.5 | |
| Earnings per share (basic) (p) | 11.94 | 13.49 |
Highlights
Diversity of activity and geography enabled the Group to produce results at the top end of market expectations;
all 3 reported segments increased profit contribution and margin;
balance sheet remains strong with year end net bank borrowings at £13.5m (2011: £23.5m) having invested £24.2m in acquisitions during 2012;
bank facilities of £125m available until July 2016;
proposed full year dividend increased by 15%; 19th consecutive annual increase of this scale.
