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Interim Results

Connect profits fall

25 April 2017 07:23

Connect Group's adjusted pre-tax profits fell to £23.3m in the six months to the end of February - 4.8% down on last time.

Adjusted revenues fell by 0.6% to £911.8m and adjusted operating profits of £26.6m were down by 4.4%.

On a statutoryu basis, revenues fell by 0.8% to £940.5m; operating profits were 7.5% down at £28.3m and pre-tax profits fell 5.3% to £18.1m.

The interim dividend of 3.1p per share is up from 3.0p last time.

Group chief executive Mark Cashmore said: "In line with our plans to focus the Group's investment on the two larger divisions, the proposed sale of Education & Care is an important milestone in our strategy.

"The resilience of News & Media and revenue growth in Tuffnells has underpinned our overall performance, allowing for continued investments to drive growth opportunities."

Story provided by StockMarketWire.com

Related Company: CNCT

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