3rd Mar 2016 09:55
LONDON (Alliance News) - Communisis PLC on Thursday morning reported a swing to a pretax profit for 2015 and increased its dividend, as it said contract wins position it for a "year of profitable growth" in 2016.
The marketing services company reported a pretax profit of GBP21.1 million, swung from a pretax loss of GBP9.7 million a year before, primarily as a result of a GBP21.4 million goodwill impairment in the previous year.
Revenue rose 3% to GBP354.2 million from GBP343.0 million a year before, although it was partly constrained by the strength of sterling and would have risen 6% at constant currency.
Communisis proposed a total dividend of 1.47 pence, up 10% from the 1.33p it paid in 2014.
The company said it had signed a number of new contracts during the year, securing clients including Barclays PLC, Centrica PLC and EE Ltd amongst others.
"We have delivered an improvement across all key performance metrics during 2015. Adjusted operating margin moved further ahead and bottom-line profitability contributed to a doubling in free cash flow. Significant contract renewals and our new business pipeline will enable us to continue delivering growth, profitability and value in 2016," said Chief Executive Andy Blundell in a statement.
Shares in Communisis were up 3.4% at 44.72 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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