Half Yearly Report
Highlights
· UK market continues to underpin growth with another half of double-digit LFL sales
· Successful new opening store programme
o 21 (2014: 8) stores opened in the period
o System sales per store almost 12% ahead
· Continued success of digital investment programmes in the UK
o e-commerce system sales ahead by 24.4%
o App based sales now represents the largest distribution channel driving 51.6% of online sales
· Significant increase in franchisee profitability
o EBITDA performance up from 12.9% to 15.1% 5
· Improving performances in international businesses
o Economic recovery and operational improvements in ROI
o Losses in Germany narrowed from £4.7m to £1.8m
o New corporate stores opened in Switzerland
· Group underlying operating profit and EPS up by 30%
· Strong cash flow and cash conversion - net cash of £19.2m