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Midland Bluebird Limited
Owners: FirstGroup plc
Period Analysed: 01 Apr 18 to 30 Mar 19 (52 weeks - last year 53 weeks)
Headlines:
| Turnover: -3.6% | Operating Profit: +100.4% | Pre-Tax Profit : +87.0% |
The company improved its results during the year, as the full year impact of network reductions in 2018 took effect. Costy savings exceeded the revenue loss, returning the company to a very small operating profit.
Key Performance Indicators
| Period to | 30 Mar 19 | 31 Mar 18 |
|---|---|---|
| EBITDA Margin | 8.3% | 4.9% |
| Operating Profit Margin | 0.0% | (4.6%) |
| Pre-Tax Profit Margin | (0.7%) | (5.5%) |
| Assets Employed | £18.208m | £23.054m |
| Return on Assets | (1.0%) | (6.6%) |
| Net Debt | £19.086m | £25.464m |
| Capital Employed | £7.492m | £16.566m |
| Return on Capital | (2.2%) | (7.5%) |
| Dividend Paid | £0.000m | m |
| Turnover per employee | £44,234 | £42,526 |
| Pre-Tax Profit per employee | (£327) | (£2,328) |
Results
| Period to | 30 Mar 19 | 31 Mar 18 | Change | 25 Mar 17 | 26 Mar 16 | 28 Mar 15 |
|---|---|---|---|---|---|---|
| £000 | £000 | % | £000 | £000 | £000 | |
| Turnover | 21,896 | 22,709 | -3.6% | 27,425 | 29,199 | 29,901 |
| Operating Costs | 20,089 | 21,602 | -7.0% | 27,194 | 26,965 | 27,578 |
| EBITDA | 1,807 | 1,107 | +63.2% | 231 | 2,234 | 2,323 |
| Depreciation & Amortisation | 1,803 | 2,151 | -16.2% | 2,295 | 2,468 | 2,124 |
| Operating Profit/(Loss) (EBIT) | 4 | (1,044) | +100.4% | (2,064) | (234) | 199 |
| Interest Costs/(Income) | 166 | 199 | -16.6% | 113 | 121 | 227 |
| Pre-Tax Profit/(Loss) | (162) | (1,243) | +87.0% | (2,177) | (355) | (28) |
| Tax Payable/(Credit) | 12 | 287 | - | 335 | (39) | 10 |
| Net Profit/(Loss) | (174) | (1,530) | +88.6% | (2,512) | (316) | (38) |
| Exceptional Items | - | 0 | 0 | 0 | ||
| Profit/(Loss) for Year | (174) | (1,530) | +88.6% | (2,512) | (316) | (38) |
Statistics
| Period to | 30 Mar 19 | 31 Mar 18 | 25 Mar 17 | 26 Mar 16 | 28 Mar 15 |
|---|---|---|---|---|---|
| Workforce | 495 | 534 | 635 | 656 | 684 |
| Capital Employed | £7.492m | £16.566m | £15.802m | £20.693m | £15.096m |
| Dividend Paid (£000) | 0 | 0 | 0 |
Performance
| Period to | 30 Mar 19 | 31 Mar 18 | 25 Mar 17 | 26 Mar 16 | 28 Mar 15 |
|---|---|---|---|---|---|
| EBITDA Margin | 8.3% | 4.9% | 0.8% | 7.7% | 7.8% |
| Operating Profit Margin | 0.0% | (4.6%) | (7.5%) | (0.8%) | 0.7% |
| Pre-Tax Profit Margin | (0.7%) | (5.5%) | (7.9%) | (1.2%) | (0.1%) |
| Return on Capital Employed | (2.2%) | (7.5%) | (13.8%) | (1.7%) | (0.2%) |
| Revenue per employee | £44,234 | £42,526 | £43,189 | £44,511 | £43,715 |
| EBIT per employee | £8 | (£1,955) | (£3,250) | (£357) | £291 |
Costs
| Period to | 30 Mar 19 | 31 Mar 18 | Change |
|---|---|---|---|
| £000 | £000 | % | |
| Wages and Salaries | 10,832 | 12,295 | -11.9% |
| National Insurance Payments | 896 | 1,023 | -12.4% |
| Pension Costs | 1,322 | 797 | +65.9% |
| Materials and Consumables | 5,238 | 5,563 | -5.8% |
| Bus Service Operators Grant | (2,070) | (2,139) | -3.2% |
| Depreciation | 1,803 | 2,151 | -16.2% |
| Asset sale loss/(profit) | (2) | (17) | -88.2% |
| Auditor's Remuneration | 6 | 6 | +00.0% |
| Operating Lease Costs | 116 | 204 | -43.1% |
| Other Costs | 3,751 | 3,870 | -3.1% |
| Interest Payable | 0 | 8 | -100.0% |
| Pension scheme finance | 166 | 168 | -1.2% |
| Total Costs | 22,058 | 23,929 | -7.8% |
Income
| Period to | 30 Mar 19 | 31 Mar 18 | Change |
|---|---|---|---|
| £000 | £000 | % | |
| Turnover | 21,896 | 22,702 | -3.6% |
| Total Revenue | 21,896 | 22,702 | -3.6% |