Profit/(loss) for the year (£m)
Basic EPS (pence) – all operations
Alternative Performance Measures1
Adjusted Operating Profit1 (£m)
Basic adjusted EPS (pence)1
- Assurance division continues to achieve good revenue growth (+9.7%) and global headcount in the technical teams is now at the levels required to satisfy current demand
- Escrow division revenues have decreased over the year (-2.8%), with North America up 10.7%, but UK down 6.5%. However, focused recruitment means sales teams enter the new financial year at full strength
- New Cloud-resilience Escrow-as-a-Service (EaaS) offering, aimed at the fast-growing cloud software market, launched during spring 2019 with encouraging initial demand
- Strong financial position with effective cash management reducing net debt1 below prior year to £20.2m, gearing equating to 8.7% (2018: 11.9%) and post year-end, a new £100m multi-currency revolving credit facility obtained to June 2024 on similar terms to previous facility
- Comprehensive systems upgrade programme continues on time and within budget
- See note 3 for an explanation of Alternative Performance Measures (APMs) and adjusting items. See note 3 for a reconciliation to statutory information.
- See note 1 for further details on the restatement of comparative information due to the retrospective application of IFRS 15.
- Comparative periods 2015 to 2017 have not been restated for IFRS 15.