Record results from Anexo

Anexo Group plc (AIM: ANX), the specialist integrated credit hire and legal services provider, announced its final results for the year ended 31 December 2019 (the 'period' or 'FY 2019') at 7am this morning.


They represent some very good news for the credit hire industry albeit in relation to the financial period before the Covid pandemic. The full results are available on the London Stock Exchange website but the financial highlights are repeated below and a copy of the announcement from the London Stock Exchange website is available here:


https://www.dropbox.com/s/nhjpydssdnw9kwm/Anexo%20Results%202020.pdf?dl=0


Financial Highlights

  • Revenue increased by 39% to £78.5 million (2018: £56.5 million)

  • Operating profit reported at £24.6 million (2018: £15.4 million), an increase of 60%

  • Adjusted operating profit before exceptional items in line with market expectations, rising by 47% to £25.2 million (2018: £17.2 million)

  • Adjusted1 operating profit margin increased to 32.2% (2018: 30.4%)

  • Profit before tax of £22.4 million (2018: £14.3 million), an increase of 57%

  • Adjusted profit before tax and exceptional items increased to £23.1 million, (2018: £16.1 million), an increase of 43%

  • Adjusted2 basic EPS at 17.0 pence (2018: 12.0 pence)

  • Proposed final dividend of 0.5p per share giving a total dividend for the year of 1.5 pence per share (2018: 1.5 pence per share)

  • Net assets reported at £91.7 million (2018: £75.8 million) representing an increase of 21%

  • Significant reduction in net cash outflows from operating activities which reached £0.8 million in 2019 (2018: net cash outflow: £7.9 million)

  • Net debt balance at 31 December 2019 was £27.7 million (31 December 2018: £17.3 million)

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