Inghams Group Limited announced group earnings results for the half year ended December 30, 2017. For the period the company reported EBITDA (underlying) was AUD 108.9 million compared to AUD 94.8 million a year ago. EBITDA (statutory) was AUD 116.2 million compared to AUD 95.2 million a year ago. Net Cash provided by operating activities excluding interest and tax of AUD 128.4 million. As a result of the strong cash flow Net Debt reduced to AUD 193.3 million with a leverage ratio of 0.9x. Revenue was AUD 1,206,100,000 compared to AUD 1,227,200,000 a year ago. Operating profit was AUD 93,300,000 compared to AUD 43,000,000 a year ago. Profit before income tax was AUD 85,300,000 compared to AUD 10,900,000 a year ago. Profit for the period attributable to owners of the company was AUD 65,700,000 compared to AUD 9,000,000 a year ago. Diluted EPS was 17.49 cents compared to 2.64 cents a year ago. Net cash provided by operating activities was AUD 116,500,000 compared to AUD 35,200,000 a year ago. Payments for property, plant and equipment was AUD 21,200,000 compared to AUD 68,300,000 a year ago. PBIT was AUD 93,400,000 compared to AUD 43,200,000 a year ago.

For 2018, the company expects, to continue to underpin cost reduction, profit improvement and cash generation. Further asset sales are expected to offset ongoing restructuring costs in the second half as company continue to implement strategy and cash flow is expected to be strong.

Inghams Group Limited declared ordinary dividend of AUD 0.09500000 for the six months ended December 30, 2017 payable on April 12, 2018. The record date is March 16, 2018 and ex-dividend date is March 12, 2018.