Manutan International : First half 2016/2017 : Financial notice of 6 June 2017
06 Juin 2017 - 6:00PM
Financial notice
of 6 June 2017
First half
2016/2017: Strong growth in the Group's turnover and
profitability
€ millions
|
H1
2016/2017
|
H1
2015/2016
|
Change
|
Turnover |
341.7 |
325.1 |
+5.1% |
Current operating profit |
23.1 |
17.6 |
+31.0% |
Operating profit |
22.4 |
17.5 |
+27.4% |
Net income |
17.6 |
12.6 |
+40.1% |
Continued growth
in turnover
The Group consolidated its growth
trend, with an increase of 5.1% (+7.1% at constant exchange rates
and on a like-for-like basis) on the first half of FY 2016/2017
year-on-year. All of the Group's European activities grew during
the first half.
Significantly
improved operating profitability
Current operating profitability
increased by 31.0% and amounted to 6.8% of the turnover compared to
5.4% for the first half of the previous year. This increase was
largely driven by turnover growth, combined with stable profit
margin and an efficient control of operating costs.
After factoring in exceptional
items, the operating profit increased by 27.4% compared to the
first half of the previous financial year and amounted to 6.5% of
turnover (compared to 5.4% during the first half of the previous
financial year).
A sharp increase in net
result
The net income amounted to 5.2% of
turnover (compared with 3.9% for the first half of the previous
financial year), representing a very significant increase of 40.1%.
The rise in operating profit was amplified by a significant drop in
the effective tax rate, which amounted to 20.5% (compared to 29.5%
for the first half of the previous financial year) mainly due to
the fall in the tax rate in France and to non-recurrent
factors.
A still solid
financial position
The Group's financial footing is
still highly solid, with an available cash flow of 86 million euros
and a financial debt representing no more than 12.0% of the balance
sheet total as of 31 March 2017. The Group strengthened its
financial structure and its cash position compared to that of 30
September 2016 while financing its investments from its equity
capital.
Second half
2016/2017 outlook
Strengthened by its first-half
results, the Group will pursue the implementation of its proactive
development strategy, with the specific goals of:
-
Sustaining the growth of its
business;
-
Improving quality of service to the
customer;
-
Pursuing the medium-term investment
plan;
-
Pouncing on external growth
opportunities.
About the Manutan
Group
The Manutan Group
is a leading player in the European multi-channel equipment
distribution market for businesses and local authorities. The Group
is established in 17 countries through
25 operating
subsidiaries.
Manutan
International is listed on Euronext Paris - Compartiment B - ISIN:
FR0000032302-MAN.
www.manutan.com
Next publication: Q3 2016/2017
results -
18 July 2017 (after market closure)
Manutan International : Financial
notice of 6 June 2017
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responsible for the content, accuracy and originality of the
information contained therein.
Source: Manutan International via Globenewswire