Continuing strong performance and business transformation

LONDON, UNITED KINGDOM--(Marketwired - Nov 30, 2016) -

Strong performance

• Achieved organic revenue growth of 6.1% (FY15: 6.0%) and the fastest rate of recurring revenue growth for a decade of 10.4% (FY15: 9.0%);
• Software subscription growth of 32.3% (FY15: 28.9%), in line with the planned transition and planned decline in SSRS revenue of 8.5% (FY15: decline of 0.7%);
• Customers embracing closer subscription relationships with 46% increase in software subscription contracts to just over one million (FY15: 690,000) and an increase in retention rates to 86% (FY15: 84%);
• Accelerating revenue growth in Europe, Africa and Brazil; slower performance in Asia (one off regulatory change in the prior year); growth in North America consistent with last year;
• Underlying cash conversion at 100%, supporting free cash flow of £254m and the 8% increase in full year dividend to 14.15p.

FINANCIAL SUMMARY1			FY16		FY15		Change
Organic revenue			£1,567m		£1,477m		+6.1%
	- Recurring revenue		£1,092m		£989m		+10.4%
	- Processing Revenue		£204m		£192m		+6.1%
	- SSRS Revenue		£271m		£296m		-8.5%
Organic operating profit			£427m		£391m		+9.2%
Organic operating profit margin			27.2%		26.5%		+70bps
Underlying basic EPS			27.8p		25.5p		+9.0%
Underlying cash conversion			100%		106%		-6.0%
Ordinary dividend per share			14.15p		13.10p		+8.0%
STATUTORY SUMMARY			FY16		FY15		Change
Revenue			£1,569m		£1,436m		+9.3%
Operating profit			£300m		£297m		+1.1%
Profit before tax			£275m		£276m		-0.4%
Basic EPS			19.28p		18.11p		+6.4%

¹ Organic operating profit is stated before non-recurring items (exceptional costs). Unless otherwise stated, all revenue growth measures referred to in the CEO report are stated on the constant exchange organic basis. Refer to Appendix II on page 18 for information on non-GAAP measures and note 3 of the financial statements for details of items excluded from underlying operating profit.