Manutan International : Financial notice of 13 December 2017
13 Décembre 2017 - 06:00PM
Financial notice
of 13 December 2017
Financial Year
2016/2017: Turnover and profit levels keep on increasing
€ millions
|
2016/2017
|
2015/2016
|
Variation
|
Turnover |
708.8 |
682.6 |
+3.8% |
Current Operating Profit |
52.7 |
48.1 |
+9.4% |
Operating Profit |
53.7 |
46.8 |
+14.7% |
Net Income |
39.1 |
34.1 |
+14.7% |
Turnover growth
boosted by all Group markets
The Group achieved a 6% growth
over the 2016/2017 financial year at constant exchange rates,
perimeter and working days (+3.8% gross growth year-over-year
without these restatements). This growth is driven by all the
Group's markets.
A significant
increase in operating profitability
Current operating profit increased
by 9.4% during the financial year to reach €52.7 million (compared
to €48.1 million for the previous financial year), which represents
7.4% of turnover vs. 7.1% the previous financial year.
The improvement in profitability is mainly explained by the
turnover growth but it is also due to a gross margin increase and
effectively managed expenses.
After taking into account
non-current items, operating profit is up by 14.7%, increasing from
6.9% of turnover to 7.6% of turnover over the 2016/2017 financial
year.
Non-current items are primarily related to a real estate deal in
Belgium, but also linked to restructuring costs.
A sharp increase
in net income
The net income is up by 14.7%
compared to the previous financial year. The decrease in the
Group's effective tax rate (25.8% in 2016/2017 vs. 28.7% in
2015/2016) is compensated by an increase in financial charges,
mainly due to the variation on the foreign exchange rate (pound
sterling).
The net income amounts to 5.5% of turnover compared to 5.0% in
2015/2016.
Dividends
In light of these results, the AGM
- convened to validate the accounts for the financial year ending
30 September 2017 - will be asked to approve an overall dividend of
12.6 million euros. The dividend payment would therefore amount to
1.65 euro for each of the Group's 7,613,291 shares, at a par value
of 2 euros.
An ever sound
financial position
Over the financial year, the Group
managed to maintain its financial structure while financing its
investment projects from its equity capital.
The outlook for
financial year 2017/2018
In this context, we will continue our proactive
development strategy, particularly by:
- Supporting the growth of the
activity (Offer expansion, transaction digitalization and Traders)
- Innovating to better differentiate
ourselves (Digital innovations, Cmalist, The New Class);
- Developing the potential of our
employees within our University; -
Seizing external growth opportunities
********************************** About the Manutan Group
The Manutan Group
is a European leader in multi-channel equipment distribution for
businesses and local authorities. Established in 18 countries
through 25 operating subsidiaries, the Group is a leading player in
Europe.
Manutan
International is listed on Euronext Paris - Compartiment B - ISIN:
FR0000032302-MAN.
www.manutan.com
Next publication: Q1 2017/2018
results -
17 January 2018 (after market
closure)
Manutan International : Financial
notice of 13 December 2017
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Manutan International via Globenewswire