debenhams plc (DEB) Snapshot

Debenhams plc Presents at Mobile Wallet Conference 2013, Jun-19-2013 02:50 PM. Venue: Thistle Marble Arch, London, United Kingdom. Speakers: Pav Chahal, Mobile Commerce Delivery Manager.

Debenhams plc reported consolidated unaudited earnings results for the twenty six weeks ended March 2, 2013. For the period, the company reported revenue of £1,282.3 million compared with £1,238.3 million for the same period a year ago. Operating profit was £127.5 million compared with £134.9 million for the same period a year ago. Profit before taxation was £120.3 million compared with £127.1 million for the same period a year ago. Profit for the financial period attributable to equity shareholders was £95.2 million or 7.6 pence basic and diluted per share compared with £95.5 million or 7.4 pence per basic and diluted share for the same period a year ago. Net cash generated from operating activities was £138.5 million compared with £146.3 million for the same period a year ago. Purchase of property, plant and equipment was £40.1 million compared with £39.1 million a year ago. Purchase of intangible assets was £11.8 million compared with £8.6 million for the same period a year ago. Net debt was £321.6 million during half year compared to £311.8 million a year ago. Group EBITDA was £175.3 million compared to £181.1 a year ago. The company expects to make further progress in the second half despite consumer sentiment remaining weak and challenging market conditions.  The company represents an effective tax rate of 20.9% based on the full year forecast. In the second half of the year the company expects to incur double running costs associated with the relocation of its head office of some £2 million.  The board has resolved to pay an interim dividend of 1.0 pence per share payable on July 5, 2013 to the shareholders of record on June 7, 2013. The ex-dividend date is June 5, 2013.

Debenhams plc has revealed expansion plans despite suffering its first fall in profits in five years. The group has identified up to 70 high streets and shopping centres where it hopes to open outlets to add to its current 155 stores. It also plans to improve its multichannel offering, revealing that shoppers who use its stores and websites spend more than twice as much as those who shop only in stores or only online.