Pagegroup Plc · LSE:PAGE
Pagegroup — H1 2016 Earnings Presentation
18 slides from Pagegroup's earnings presentation, September 2016
Slide 1: Half Year Results 2016
PageGroup 3 é ey, Half Year Results 2016
Slide 2: Agenda
Agenda Financial Review Capital Strategy and Returns Summary and Outlook
Slide 3: Financial Review
Financial Review
Slide 4: H1 2016 Group Financial Highlights
H1 2016 Group Financial Highlights Reported Constant H1 2016 H1 2015 % % Revenue £575.9m £530.4m +8.6% +5.5% Gross Profit £299.2m £280.9m +6.5% +3.6% Operating Profit £47.1m £40.0m +17.6% +12.1% Basic Earnings Per Share 10.8p 9.1p +18.7% Net Cash £73.6m £100.5m -26.7% Interim Dividend Per Share 3.75
Slide 5: Income Statement
Income Statement H1 2016 H1 2015 Reported Constant £m £m % % Revenue 575.9 530.4 +8.6% +5.5% Gross Profit 299.2 280.9 +6.5% +3.6% Operating Profit 47.1 40.0 +17.6% +12.1% Net Interest (expense)/income (0.2) 0.4 Profit Before Tax 46.9 40.4 Taxation (13.1) (12.1) Profit After Tax 33.8 28.3 Effective T
Slide 6: Conversion by Region
Conversion by Region H1 2016 H1 2015 Gross Operating Conversion Gross Operating Conversion Profit Profit Rate Profit Profit Rate £m £m % £m £m % GROUP 299.2 47.1 15.7 280.9 40.0 14.3 EMEA 129.1 23.8 18.5 109.1 15.6 14.3 UK 74.8 11.6 15.6 75.7 12.5 16.5 ASIA PACIFIC 56.5 9.4 16.6 56.0 9.9 17.6 AMERIC
Slide 7: Depreciation, Amortisation and Capital Expenditure
Depreciation, Amortisation and Capital Expenditure H1 2016 H1 2015 £m £m Depreciation 4.4 3.7 Amortisation 3.8 3.9 Total 8.2 7.6 Capital expenditure 11.9 5.7 • Increased capital expenditure due to the fit out of new European SSC and for office moves in locations such as New York, Paris and Tokyo • N
Slide 8: Balance Sheet
Balance Sheet H1 H1 2016 2015 £m £m Intangible assets 36.5 36.5 Tangible assets 26.8 20.3 Trade and other receivables 262.7 218.4 Trade, other payables, current and deferred taxes (164.0) (134.6) Net cash 73.6 100.5 Net assets 235.6 241.1 • Trade and other receivables increased by c. £24m due to for
Slide 9: H1 Cash flow: Shares purchased to hedge share plan exposures
H1 Cash flow: Shares purchased to hedge share plan exposures H1 2016 H1 2015 Movement in net cash (£m) (21.4) 10.5 £m 9
Slide 10: Capital Strategy and Returns
Capital Strategy and Returns
Slide 11: Capital Strategy
Capital Strategy • To finance the activities and development of the Group from retained earnings while maintaining a strong balance sheet position • First use of cash is to satisfy operational and investment requirements, as well as hedging the Group’s liabilities under its share plans • Second use
Slide 12: Track Record of Shareholder Returns
Track Record of Shareholder Returns £m
Slide 13: Assessment of Surplus Cash
Assessment of Surplus Cash H1 2016 H1 2015 Special Dividend (£m) 20.0 50.0 £m
Slide 14: Dividends
Dividends H1 2016 H1 2016 H1 2015 H1 2015 (pence per share) £m (pence per share) £m Interim 3.75 11.6 3.6 11.3 Supplementary 6.46 20.0 16.0 50.0 Total 10.21 31.6 19.6 61.3 • Interim Dividend increased by 4.2% • Supplementary return of £20m • Both payable to shareholders on 12th October • Ordinary di
Slide 15: Summary and Outlook
Summary and Outlook
Slide 16: Summary & Outlook
Summary & Outlook • Trading conditions anticipated to remain challenging in several key markets - No contagion from referendum result seen so far outside of UK and the Financial Summary Outlook Services markets - Some slowing in candidate and client activity in the UK • Ongoing focus on conversion r
Slide 17: Slide 17
Slide 18: Cautionary Statement
18 Cautionary Statement This presentation contains certain statements that are neither reported financial results nor other historical information. The information contained in this presentation is not audited, is for personal use and informational purposes only and is not intended for distribution