REG - Hill & Smith Hdgs. - Final Results <Origin Href="QuoteRef">HILS.L</Origin> - Part 3

Hill & SmithAnnouncement

08/03/2017 07:01

- Part 3: For the preceding part double click  ID:nRSH7980Yb 

          
 Cash and bank balances                                                         15.6     12.9     
 Cash                                                                           15.6     12.9     
 Interest bearing loans and borrowings                                                            
 Amounts due within one year                                                    (0.3)    (0.3)    
 Amounts due after more than one year                                           (127.3)  (104.1)  
 Net debt                                                                       (112.0)  (91.5)   
                                                                                                  
 Change in net debt                                                                               
 Operating profit                                                               51.8     37.3     
 Non-cash items                                                                 26.5     34.6     
 Operating cash flow before movement in working capital                         78.3     71.9     
 Net movement in working capital                                                (0.1)    (2.5)    
 Changes in provisions and employee benefits                                    -        (3.3)    
 Operating cash flow                                                            78.2     66.1     
 Tax paid                                                                       (15.7)   (12.6)   
 Net financing costs paid                                                       (2.8)    (3.0)    
 Capital expenditure                                                            (21.7)   (16.0)   
 Proceeds on disposal of non-current assets                                     3.6      1.2      
 Free cash flow                                                                 41.6     35.7     
 Dividends paid                                                                 (16.2)   (14.1)   
 Acquisitions                                                                   (37.4)   (16.6)   
 Amortisation of costs associated with refinancing revolving credit facilities  (0.4)    (0.4)    
 Purchase of shares for employee benefit trust                                  (2.0)    (0.9)    
 Issue of new shares                                                            0.8      1.2      
 Net debt (increase)/decrease                                                   (13.6)   4.9      
 Effect of exchange rate fluctuations                                           (6.9)    (0.4)    
 Net debt at the beginning of the year                                          (91.5)   (96.0)   
 Net debt at the end of the year                                                (112.0)  (91.5)   
 
 
Notes: 
 
1.     The financial information previously set out does not constitute the
Company's statutory accounts for the years ended 31 December 2016 or 2015 but
is derived from those accounts. Statutory accounts for 2015 have been
delivered to the registrar of companies, and those for 2016 will be delivered
in due course. The auditors have reported on those accounts; their report
was: 
 
i.      unqualified; 
 
ii.    did not include references to any matters to which the auditors drew
attention by way of emphasis without qualifying their report; and 
 
iii.   did not contain a statement under Section 498(2) or (3) of the
Companies Act 2006. 
 
2.     The Annual Report will be posted to shareholders on or before 7 April
2017 and will be displayed on the Company's website at www.hsholdings.com.
Copies of the Annual Report will also be available from the registered office
at Westhaven House, Arleston Way, Shirley, Solihull, B90 4LH. 
 
3.     Events Calendar: 
 
i.      The Annual General Meeting will be held on Thursday 11 May at 11.00
a.m. at The Village Hotel, The Green Business Park, Shirley, Solihull, B90
4GW. 
 
ii.    The proposed final dividend for 2016 will be paid on 3 July 2017 to
shareholders on the register on 26 May 2017 (ex-dividend date 25 May 2017). 
 
iii.   The last date for receipt of Dividend Reinvestment Plan elections is 12
June 2017. 
 
iv.    Interim results announcement for the period to 30 June 2017 due August
2017. 
 
v.     Payment of the 2017 interim dividend due January 2018. 
 
4.     This preliminary announcement of results for the year ended 31 December
2016 was approved by the Directors on 
 
8 March 2017. 
 
Cautionary Statement 
 
This announcement contains forward looking statements which are made in good
faith based on the information available at the time of its approval. It is
believed that the expectations reflected in these statements are reasonable
but they may be affected by a number of risks and uncertainties that are
inherent in any forward looking statement which could cause actual results to
differ from those currently anticipated. 
 
This information is provided by RNS
The company news service from the London Stock Exchange