Inghams Group Limited Announces Group Earnings Results for the Half Year Ended December 30, 2017; Provides Earnings Guidance for 2018; Declares Ordinary Dividend for the Six Months Ended December 30, 2017, Payable on April 12, 2018
February 21, 2018 at 04:31 pm
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Inghams Group Limited announced group earnings results for the half year ended December 30, 2017. For the period the company reported EBITDA (underlying) was AUD 108.9 million compared to AUD 94.8 million a year ago. EBITDA (statutory) was AUD 116.2 million compared to AUD 95.2 million a year ago. Net Cash provided by operating activities excluding interest and tax of AUD 128.4 million. As a result of the strong cash flow Net Debt reduced to AUD 193.3 million with a leverage ratio of 0.9x. Revenue was AUD 1,206,100,000 compared to AUD 1,227,200,000 a year ago. Operating profit was AUD 93,300,000 compared to AUD 43,000,000 a year ago. Profit before income tax was AUD 85,300,000 compared to AUD 10,900,000 a year ago. Profit for the period attributable to owners of the company was AUD 65,700,000 compared to AUD 9,000,000 a year ago. Diluted EPS was 17.49 cents compared to 2.64 cents a year ago. Net cash provided by operating activities was AUD 116,500,000 compared to AUD 35,200,000 a year ago. Payments for property, plant and equipment was AUD 21,200,000 compared to AUD 68,300,000 a year ago. PBIT was AUD 93,400,000 compared to AUD 43,200,000 a year ago.
For 2018, the company expects, to continue to underpin cost reduction, profit improvement and cash generation. Further asset sales are expected to offset ongoing restructuring costs in the second half as company continue to implement strategy and cash flow is expected to be strong.
Inghams Group Limited declared ordinary dividend of AUD 0.09500000 for the six months ended December 30, 2017 payable on April 12, 2018. The record date is March 16, 2018 and ex-dividend date is March 12, 2018.
Inghams Group Limited is an Australia-based integrated poultry producer. The Company is focused on the production and sale of chicken and turkey products across its vertically integrated free-range, value enhanced, primary processed, further processed and by-product categories. In addition, the Company's stock feed is produced primarily for internal use but also for the poultry and pig industries. Its geographic segments include Australia and New Zealand. The Companyâs products include Oven Roasted Breast Supreme, Inghamâs Free Range Hot Roast Chicken, Inghamâs Turkey Drumsticks, Inghamâs Whole Chicken, Inghamâs Turkey Wing Pieces, Inghamâs Hot Roast Chicken Country Style Marinated & Stuffed, Inghamâs Chicken Potato Cake, Inghamâs Crumbed Chicken Chipees, Inghamâs Gluten Free Chicken Breast Tenders, Inghamâs Turkey Mignon in Bacon with Garlic Butter, Inghamâs Turkey Breast Crumbed Nuggets, Inghamâs Free Range Chicken Breast Fillet With Ciabatta And Parsley Crumb, and more.
Inghams Group Limited Announces Group Earnings Results for the Half Year Ended December 30, 2017; Provides Earnings Guidance for 2018; Declares Ordinary Dividend for the Six Months Ended December 30, 2017, Payable on April 12, 2018