Trading Results

"2015 was a good year operationally, as we focused on profitable and responsible growth, combined with efficiency measures to enhance margins and improve cash flow. Adjusting for adverse currency movements we were in the lower end of our guidance range on revenue but in the top half of our range on EBITDA. I am particularly pleased that we started to increase margins in 2015 with the Adjusted EBITDA margin improving by 0.7% to 33.7%. I am also very pleased with our improved equity free cash flow metrics, which saw a material improvement year-on-year. Improving our cash flow further in 2016 is a major focus for the Group through a combination of improving margins and lower capital expenditure to further reinforce the balance sheet..." (See the Earnings Release)