Share Search
Visit the Share Search
Digital revenue drives first-half growth at Haynes
30th Jan 2020 12:24
(Sharecast News) - Haynes Publishing reported a 4% improvement in headline revenue in its interim results on Thursday, to £19m.
The London-listed firm said digital revenue was up 18% year-on-year for the six months ended 30 November, at £11.4m, representing 60% of overall group revenue, which was an improvement from 53% a year earlier.
Adjusted EBITDA was ahead 16% at £7.3m, with operating profit from trading segments rising 13% to £4.5m.
Haynes said adjusted operating profit from the professional segment was 31% higher at £3.8m, which was driven by higher revenue, itself growing 17%.
Consumer adjusted operating profit, meanwhile, was down 36% at £0.7m, which the board said was impacted by lower United States and Australian print manual revenues.
Revenue from consumer digital channels was 46% higher year-on-year.
The company made a £4.4m investment in new content, datasets and delivery platforms during the period, in line with its spend a year earlier, and said it had maintained "strong" cash generation, with group operating cash flows after tax up 17% at £6.1m.
"This has been another strong period of underlying revenue and profit growth for Haynes, which has been driven by new contract gains and key partner renewals," said chairman Eddie Bell.
"We have a healthy pipeline of development projects across both our professional and consumer businesses and with the proportion of revenue we derive from our digital channels increasing, the Haynes Group remains well placed to deliver sustainable revenue and profit growth."
At 1140 GMT, shares in Haynes Publishing Group were down 2.32% at 421p.
The London-listed firm said digital revenue was up 18% year-on-year for the six months ended 30 November, at £11.4m, representing 60% of overall group revenue, which was an improvement from 53% a year earlier.
Adjusted EBITDA was ahead 16% at £7.3m, with operating profit from trading segments rising 13% to £4.5m.
Haynes said adjusted operating profit from the professional segment was 31% higher at £3.8m, which was driven by higher revenue, itself growing 17%.
Consumer adjusted operating profit, meanwhile, was down 36% at £0.7m, which the board said was impacted by lower United States and Australian print manual revenues.
Revenue from consumer digital channels was 46% higher year-on-year.
The company made a £4.4m investment in new content, datasets and delivery platforms during the period, in line with its spend a year earlier, and said it had maintained "strong" cash generation, with group operating cash flows after tax up 17% at £6.1m.
"This has been another strong period of underlying revenue and profit growth for Haynes, which has been driven by new contract gains and key partner renewals," said chairman Eddie Bell.
"We have a healthy pipeline of development projects across both our professional and consumer businesses and with the proportion of revenue we derive from our digital channels increasing, the Haynes Group remains well placed to deliver sustainable revenue and profit growth."
At 1140 GMT, shares in Haynes Publishing Group were down 2.32% at 421p.