2018 FINANCIAL HIGHLIGHTSplus
Profit before Tax
Total Dividends (per share)
(1) Adjusted EBITDA represents profit before interest, tax, depreciation and amortisation, and non-underlying expenses.
(2) Adjusted basic earnings per share excludes non-underlying expenses and the related tax effect, and other non-underlying tax items.
(3) Non-underlying expenses for 2018 of £0.4 million include professional fees related to completed acquisitions, as well as unamortised fees from our previous bank facility, expensed (as a finance cost) following the refinancing in December 2018. Non-underlying expenses for 2017 of £0.8 million include professional fees
2018 Strategic Highlightsplus
- Continuing to gain market share – now the largest supplier of rigid profile to the UK market
- Expanding branch network – now 202 sites
- Increasing use of recycled material – acquisition of Ecoplas consolidates position as leading UK recycler of PVC windows
2018 Financial and Operational Highlights plus
- Strong sales growth of 13% (12% excluding acquisitions)
- Sales growth and mix changes exceeded capacity, impacting manufacturing efficiency and customer service
- Gross margin and EBITDA therefore down, as anticipated
- Action taken to expand production capacity and strengthen operational teams
- Customer service now normalised – implementing selling price increases in 2019