6 Dec 2019 09:59
Places for People Group Limited Trading Update for the Period Ending 30 September 2019
Places for People Group Limited (the "Group") is pleased to issue its unaudited trading update for the six month period ending 30 September 2019. All comparatives are to the prior year equivalent period being the six months ended 30 September 2018 ("2018"), as well as the full year period ended 31 March 2019.
Highlights
·; Group turnover has increased by 4.5% to £437.2m (2018: £418.5m).
·; Operating profit has increased by 1% to £106.1m (2018: £105.1m).
·; Fixed assets have increased to £4.6bn (2018: £4.4bn).
The Group's half-year results show a steady performance against a backdrop of continued economic and political uncertainty. There is a small increase in operating profit albeit at a slightly lower margin of 24.3% compared to 25.1% in 2018, but is consistent with the operating margin achieved for the full year ended 31 March 2019.
Profit after tax has reduced by £7.1m compared to the period ended 30 September 2018 due to reduced sales of fixed assets in the six months to 30 September 2019 with fixed assets increasing to £4.6bn in the same period.
Despite the challenging environment the Group continues to deliver on its medium term strategic objectives including a strong focus on efficiencies and operating margins.
http://www.rns-pdf.londonstockexchange.com/rns/0397W_1-2019-12-6.pdf
A copy of the above document has also been submitted to the National Storage Mechanism and will shortly be available for inspection at: http://www.morningstar.co.uk/uk/NSM.
For further information, please contact:
Places for People Group LimitedTax and Treasury Director80 Cheapside, London EC2V 6EE
Telephone: +44 (0)1772 897 200
Fax: +44 (0)1772 897 578
Email: matt.cooper@placesforpeople.co.uk