Retail Decisions posts H1 profit rise
The Board of Retail Decisions ('ReD'), the payment card issuer and a world leader in card fraud prevention and payment processing, is pleased to announce its Interim Results for the six months to 30 June 2006.
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Highlights:
- Net revenue (1) up 55% to £22.9m (2005: £14.7m)
- Includes first time inclusion from acquisitions of £8.4m
- Operating profit up 35% to £4.9m (2005: £3.7m)
- Adjusted operating profit(2) up 66% to £6.0m (2005: £3.7m). Underlying growth of 13% excluding impact of acquisitions and at constant exchange rates
- Strong performance from Australian Fuel Card business
- Profit before tax up 20% to £4.2m (2005: £3.5m)
- Diluted EPS up 3% to 4.10p (2005: 3.98p)
- Up 16% on an adjusted basis
- Continued strong cash generation from operations
- Successful integration of two acquisitions - European Fuel Cards & Pre-paid Gift Cards
- net revenue is defined as revenue less cost of fuel sold
- adjusted means before acquired intangible asset amortisation and exceptional items
Commenting, Carl Clump Chief Executive of Retail Decisions, said: "I am encouraged that trading in the first half of the year continued the momentum of last year and that it was ahead of internal expectations for the period. The acquisitions of 2005 have been successfully integrated into the Group and the first half performance augurs well for the full year."
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