Senior PLC (LON:SNR) today announced results for the year ended 31 December 2018
· Sales increased to £1,082.1m; another record year with constant currency increase of 8%
· Operating profits rising faster than sales
· Adjusted profit before tax of £83.0m; constant currency year-on-year increase of 15%
· Adjusted earnings per share of 16.08p; year-on-year increase of 12%
· Healthy free cash flow of £45.3m after investing £56.3m in capital expenditure for further organic growth
· Full year dividend per share proposed to increase by 7%
· The Board anticipates that 2019 will be another year of improvement in performance for the Group
Commenting on the results, David Squires, Chief Executive of Senior plc, said:
“Senior delivered profitable growth in 2018. We had strong order intake, with a book-to-bill of 1.1x, and sales reached another record level. Adjusted profit before tax increased by 15%, exceeding sales growth of 8%, on a constant currency basis. Free cash flow remains healthy and Group margins improved as volumes increased and benefits from ongoing cost reduction efforts were realised.
2019 trading has started in line with expectations. The Board anticipates that, even with changeable geopolitical conditions, 2019 will be another year of improvement in performance for the Group.
Looking further ahead, the Group is well-positioned, financially robust and expects to continue to make good progress.”