Impellam Group Revenues, Profit and Dividends all on the up - LSE:IPEL
Impellam Group Revenues, Profit and Dividends all on the up
Ø Revenue increased 9.7% to £1.3 billion
Ø Staffing revenues increased 11.5% to £1.3 billion
Ø Gross profit increased 11.9% to £193.9 million
Ø Staffing gross profit increased 11.1% to £187.5 million
Ø Permanent placement mix 13.2% (2013: 11.5%)
Ø Adjusted operating profit* £36.7 million (2013: £28.6 million)
Ø Staffing operating profit £40.5 million (2013: £36.8 million) with strong performances across the UK businesses (Managed Services up 11% and Specialist Staffing up 31%)
Ø US businesses issues identified and remedial action taken
Ø Carlisle margin improved and on track for profitability
Ø Exceptional items reduced significantly to £2.7 million (2013: £23.2 million)
Ø Operating profit £34.0 million (2013: £0.4 million)
Ø Conversion of gross margin to adjusted operating profit* 18.9% (2013: 16.5%)
Ø Basic earnings per share 59.6 pence (2013: loss 2.3 pence)
Ø Adjusted* basic earnings per share 68.1 pence (2013: 62.0 pence)
Ø Net debt of £14.8 million at 2 January 2015 (27 December 2013: cash £8.0 million)
Ø 2 acquisitions completed in the period (Lorien & Career Teachers)
Ø UK receivable finance agreement with Barclays increased to £120 million and renewed for three more years to November 2017 and term loan, originally of £15 million, taken out in connection with Lorien acquisition
Ø Final dividend of 7.75 pence per share, amounting to £3.8 million in total, proposed to be approved at the AGM to be convened for 30 June; payable on 31 July 2015 to all shareholders on the register at 10 July 2015. This makes a total dividend of 14p for 2014 an increase of 16.7% on 2013.
