Spotless delivered strong results for 1H15, reaffirming our full year prospectus forecasts.
The company reported statutory sales revenue of $1,346.3 million, up 4.7% on the previous corresponding period, and pro forma sales revenue of $1,302.5 million, demonstrating growth of 4.5% on pro forma 1H14.
Spotless Chairman, Ms Margaret Jackson, said that the company’s interim results were the reflection of a stable and diversified business with well-managed operations and the ability to self-fund growth.
Spotless Chief Executive Officer and Managing Director, Mr Bruce Dixon, said: “Our first half results, together with the company’s seasonal weighting of earnings towards the second half, demonstrate that we are on track to deliver on our full year prospectus forecasts. We continue to pursue more efficient and effective ways to deliver quality services to our clients, while ensuring our margins are globally competitive.”
Spotless’ Directors confirm a target payout ratio of 75% of Adjusted NPAT in FY15, representing the top end of the previously stated dividend policy.