2021 Interim Results
5 August 2021 2021 Interim Results Strong first half across the business: returned to 2019 levels a year ahead of plan; full-year guidance raised; good progress on transformation; £350 million buyback planned for H2 Key figures – continuing operations +/(-) % +/(-) % £ million H1 2021 reported1 LFL2 H1 20203 Revenue 6,133 9.8 16.1 5,583 Revenue less pass-through costs 4,899 5.0 11.0 4,668 Reported: Operating profit/(loss) 484 n/m4 - (2,751) Profit/(loss) before tax 394 n/m - (3,177) Diluted EPS (p) 20.6 n/m - (262.0) Dividends per share (p) 12.5 25.0 - 10.0 Headline5: Operating profit 590 54.4 - 382 Operating profit margin 12.1% 3.9pt* - 8.2% Profit before tax 502 81.9 - 276 Diluted EPS (p) 28.7 86.4 - 15.4 * Margin points H1 and Q2 financial highlights H1 reported revenue 9.8%, LFL revenue 16.1% (Q2 26.4%) H1 revenue less pass-through costs 5.0%, LFL revenue less pass-through costs 11.0% (up 0.5% on H1 2019) Q2 LFL revenue less pass-through costs 19.3%: US 12.6%, UK 31.8%, Germany 20.3%, Greater China 1.4%, Australia 8.4%, India 30.0% Q2 LFL revenue less pass-through costs on 2019 1.3%: US 1.8%, UK 1.1%, Germany 6.3%, Greater China -1.7%, Australia -13.6%, India -2.6% Strong new business performance: $2.9 billion net new billings in H1 H1 headline operating margin 12.1%, up 3.9 pt on prior year with strong top- line growth supporting significant reinvestment in incentives H1 headline operating margin pre incentives up 7.8 pt to 17.0% Net debt at 30 June 2021 £1.5 billion, down £1.2 billion year-on-year reflecting good working capital management 1 Percentage change in reported sterling.
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