Full Year Highlights
Underlying revenue up 3%, with revenue in Core Growth up by 4%
o Facility revenue grew 5% with operating margin at 25.7% (25.4%)
o 210bps operating margin improvement in Workwear to 19.8%
o UK Flat Linen revenue up 4% benefiting from more favourable market conditions
Turnaround of UK decontamination contract; £1.8 million release of provision as an exceptional item
137% of adjusted profit after tax converted to free cash flow, significantly reducing net debt
Return on invested capital increased by 80bps to 9.3% in line with strategic focus
18% growth in adjusted EPS: ahead of strategic objectives
Dividend up 10% in line with our progressive dividend policy
Iain Ferguson, Chairman of Berendsen, commented
'We are pleased to have delivered a strong set of results, as we make progress towards our strategic objectives. Our focus remains on the many further opportunities to improve our business. The board expects to achieve another year of good progress in 2014.'
