FD (AIM:FDP.L, ESM:FDP.I) today announces its unaudited results for the six months ended 31 August 2018.
|Revenue £105.6m (H1 2018: £87.8m)||+20%|
|Gross profit £43.9m (H1 2018: 36.3m)||+21%|
|Adjusted EBITDA* £18.1m (H1 2018: £16.1m)||+12%|
|Profit** before tax £7.6m (H1 2018: £6.3m)||+20%|
|Adjusted*** profit after tax £10.6m (H1 2018: £9.2m)||+15%|
|Adjusted*** fully diluted EPS 38.7p (H1 2018: 34.4p)||+13%|
|Reported diluted EPS 21.7p (H1 2018: 17.1p)||+27%|
|Interim dividend 7.7p per share (H1 2018: 7.0p)||+10%|
|Net debt £24.2m (FY 2018: £16.2m)|
*Adjusted for share-based payments and acquisition costs
**Includes foreign currency translation effect and deferred consideration on prior acquisitions
***Adjusted for amortisation of acquired intangibles, share-based payments, acquisition costs, foreign currency translation effect, share of loss on associate and exceptional taxation
Seamus Keating, Chairman of FD, commented: “Our confidence in the growth prospects and the long-term potential of FD continues to increase, underpinned by demand for our Kx technology across multiple industries and our domain knowledge and growing reputation in managed services and consulting. This confidence drove an acceleration of our investment plans in H1, in response to new opportunities across the business. While the benefits from this investment will be received in future periods, the Group has delivered a strong first half.
The pace of major contract wins across the business, together with our high levels of repeat and recurring revenue provide confidence and position the group well to continue achieving strong growth. We expect to deliver revenue and adjusted EBITDA slightly ahead of consensus forecasts* for the year to 28 February 2019.”
*The Group believes consensus revenue and adjusted EBITDA forecasts to be £213.0m and £38.5m respectively.