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Annual Results

Ascential revenues rise

27 February 2017 08:22

Ascential's revenues rose to £299.6m in the year to the end of December - up from £256.6m in 2015 - a constant currency organic growth rate of 9.5% (a reported growth of 16.8%).

Total revenue, including discontinued operations, of £357.5m (2015: £319.1m) a constant currency organic growth rate of 5.6% (a reported growth of 12.0%).

Adjusted EBITDA from continuing operations of £95.9m (2015: £76.6m) a constant currency organic growth rate of 11.5% with expansion of margin to 32.0% (2015: 29.9%).

Total adjusted EBITDA, including discontinued operations, rose to £107.5m (2015: £90.9m) a constant currency organic growth rate of 6.5% with expansion of margin to 30.1% (2015: 28.5%).

Reported operating profit from continuing operations rose to £32.1m (2015: £24.3m) and adjusted operating profit from continuing operations increased to to £83.0m (2015: £60.8m).

The recommended final dividend of 3.2p takes the total to 4.7p for the year - a 30% payout ratio and in line with the group's stated dividend policy.

Chief executive Duncan Painter said: "2016 was a good year with strong Organic growth for Ascential. We grew both revenues and profits driven by our focus on our leading brands and on customer retention.

"The launch of new products such as WGSN Insight, Money20/20 Europe and Lions Entertainment were contributors to our 2016 success.

"We also made substantial progress to reshape the Group towards higher organic growth through the acquisition of US-based One Click Retail in August 2016 and the acquisition of MediaLink announced in February 2017, as well as the proposed sale of the Group's Heritage Brands.

"Our active portfolio management continues to drive our growth rate and geographically diversify the business.

"The new financial year has started well.

"Since the year end, Spring Fair, Bett London and Pure Spring have taken place and performed overall in line with our expectations.

"While still early in 2017, we are encouraged by the current level of forward bookings and are confident of another good year of growth for the Group."

At 8:22am: (LON:ASCL) Ascential Plc share price was +1.55p at 307.65p

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