Financial information

Please browse the latest financial statements

Consolidated income statement

for the 52 week period from 26 November 2017 to 25 November 2018

   

Adjusted

Adjusting
items

Total

Adjusted

Adjusting
items

Total

 

 

2018 
£’000

2018
£
000

2018 
£
000

2017
£’000

2017
£’000

2017
£’000

Revenue

 

1,241,539

1,241,539

1,148,747

1,148,747

Cost of sales

 

(919,003)

(1,428)

(321,108)

(841,370)

(841,370)

Gross profit

 

322,536

(1,428)

321,108

307,337

307,337

Administrative expenses

 

(311,442)

(7,118)

(318,560)

(286,889)

(3,730)

(290,619)

Other operating income

 

6,811

6,811

7,787

7,787

Profits/(losses) arising on property-related items

 

416

6,109

6,525

3,110

(2,621)

489

Operating profit

 

18,321

(2,437)

15,884

31,385

(6,351)

25,034

Finance income

 

93

93

Finance costs

 

(7,859)

(158)

(8,017)

(5,200)

(1,521)

(6,721)

Net finance cost

 

(7,859)

(158)

(7,859

(5,107)

(1,521)

(6,628)

Profit before tax

 

10,462

(2,595)

7,867

26,278

(7,872)

18,406

Income tax (expense)/receipt

 

(2,778)

1,762

(1,016)

(5,228)

1,014

(4,214)

Profit for the period

 

7,684

(833)

6,851

21,050

(6,858)

14,192

Earnings per share (pence)

 

6.67p

5.95p

18.28p

12.32p

Diluted Earnings per share (pence)

 

6.66p

5.94p

18.91p

12.26p

The above results were derived from continuing operations.

Consolidated statement of comprehensive income

for the 52 week period from 26 November 2017 to 25 November 2018

 

2018
£
000

2017
£’000

Profit for the period

6,851

14,192

Items that will not be reclassified subsequently to profit or loss

 

 

Remeasurement of defined benefit pension scheme

859

3,039

Tax on defined benefit pension scheme

(150) 

(517) 

Total comprehensive income for the period

7,560

16,714

Consolidated statement of financial position

for the 52 week period from 26 November 2017 to 25 November 2018

 

2018
£
000

2017
£’000

Assets

 

 

Non-current assets

 

 

Property, plant and equipment

92,314

103,565

Intangible assets

252,747

248,889

Deferred tax assets

97

172

Retirement benefit asset

14,122

13,609

Investments

36

36

Total non-current assets

359,316

366,281

Current assets

 

 

Inventories

77,146

75,965

Trade and other receivables

41,984

39,810

Cash and cash equivalents

28,547

14,273

Total current assets

130,048

93,407

Assets classified as held for sale

-

581

Total assets

506,993

496,910

Equity and liabilities

 

 

Current liabilities

 

 

Trade and other payables

(213,337)

(163,670)

Loans and borrowings

(2,148

(1,799) 

Income tax liability

(673)

(2,633)

Provisions

(4,627)

(4,508)

Liabilities directly associated with assets classified as held for sale

(830) 

Total current liabilities

(220,785)

(173,440)

Net current liabilities

(73,108)

(42,811)

Non-current liabilities

 

 

Loans and borrowings

(124,989)

(154,722)

Other payables

(9,552)

(10,367)

Provisions

(1,042)

(593)

Deferred tax liabilities

(6,895)

(8,528)

Retirement benefit obligations

(2,250)

(3,352)

Total non-current liabilities

(144,728)

(177,562)

Total liabilities

(365,513)

(351,002)

Net assets

141,480

145,908

Equity

 

 

Share capital

(115)

(115)

Share premium

(12,580)

(12,579)

Retained earnings

(128,785)

(133,214)

Equity attributable to owners of the Group

(141,480)

(145,908)

These financial statements of McColl’s Retail Group plc registered number 08783477 were approved and authorised for issue by the Board on 17 February 2019 and signed on its behalf by:

Robbie Bell

Director

Consolidated statement of cash flows

for the 52 week period from 26 November 2017 to 25 November 2018

 

2018
£
000

2017
£’000

Cash flows from operating activities

 

 

Profit for the period

6,851

14,192

Adjustments to cash flows from non-cash items

 

 

Depreciation and amortisation

17,054

15,636

Profit on disposal of property plant and equipment

(14,994)

(489)

Finance income

-

(93)

Finance costs

8,017

6,721

Share-based payment transactions

-

436

Income tax expense

1,016

4,214

Impairment losses

3,297

746

 

21,241

41,363

Working capital adjustments

 

 

Increase in inventories

(737)

(20,924)

Increase in trade and other receivables

(1,593)

(3,969)

Increase in trade and other payables

48,082

40,561

Decrease in retirement benefit obligation net of actuarial changes

(906)

(1,633)

Increase/(decrease) in provisions

568

3,089

Cash generated from operations

58,487

26,793

Income taxes paid

(4,267)

(5,144)

Cash generated from operations

66,655

58,487

Income taxes paid

(4,811) 

(4,267) 

Net cash flow from operating activities 61,884  54,220 

Cash flows from investing activities

 

 

Interest received

-

93

Acquisitions of property plant and equipment

(21,295)

(25,655)

Proceeds from sale of property plant and equipment

27,410

7,622

Acquisition of businesses, net of cash acquired

(4,513)

(122,409)

Net cash flows from investing activities

1,602

(140,349)

Cash flows from financing activities

 

 

Interest paid

(7,928)

(6,327)

Proceeds from issue of ordinary shares, net of issue costs

1

Repayment of bank borrowing

(29,000)

(37,000)

New bank borrowing

-

154,500

(Payment of)/new finance lease creditors

(235)

(2,506)

Interest payment to finance lease creditor

(274)

(199)

Dividends paid

(11,862)

(11,748)

Net cash flows from financing activities

(49,172)

96,645

Net increase in cash and cash equivalents

14,274

10,516

Cash and cash equivalents at beginning of period

14,273

3,757

Cash and cash equivalents at end of period

28,547

14,273

 

Download the 2018 Financial Statements in XLS format