McColl's retail Group 2016 interim results

DividendMax Ltd.

McColl's retail Group 2016 interim results

Financial highlights:

·      Total revenue up 2.2% to £469.2m (2015: £459.3m).

·      Like-for-like (LFL) sales down 2.2%:

LFL performance in recently acquired and converted stores up 1.0%.

LFL sales in premium convenience and food and wine stores down 1.5%.

LFL sales in newsagents and standard convenience stores down 3.7% as a result of continued pressure on traditional categories.

·      Operating profit before exceptional items of £9.6m (2015: £9.6m).

·      Profit before tax up 8.1% to £8.2m (2015: £7.6m).

·      Adjusted EBITDA marginally down to £16.0m (2015: £16.2m).

·      Earnings per share up 8.9% to 6.1p (2015: 5.6p). 

·      Net debt decreased to £42.3m (2015: £47.3m).

·      Interim dividend per share maintained at 3.4p (2015: 3.4p) representing an increased total cash payment over an enlarged share capital.

·      On track to achieve results in line with the Board's expectations for the financial year.

Companies mentioned