Trading Performance

Year Ended 31 December

Trading Performance

(All information delayed by at least 15 minutes.)

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	2021 £'000		2020 £'000		2019 £'000		2018 £'000		2017 £'000
Revenue	3,301,970		2,774,036		1,814,667		1,649,591		1,357,281
Cost of Sales	-2,935,892		-2,452,093		-1,556,715		-1,440,193		-1,195,424
Gross Profit	366,078		321,943		247,952		209,398		161,857
Distribution Costs	-25,083		-23,246		-22,778		-18,283		-11,953
Administrative Expenses	-27,2438		-236,859		-175,811		-150,030		-116,337
Exception item - acquisition costs	-7,050		-		-		-		-2,843
Share of Profit in Joint Venture	1,925		5,029		6,406		5,213		4387
Group Operating Profit	63,432		66,867		55,769		46,298		35,111
Profit After Taxation	39,282		42,040		33,160		34,706		27,040
EBITDA (1)	139,026		126,425		102,442		70,749		56,659

Note
(1) EBITDA is calculated as Group operating profit plus amortisation and depreciation as set out in HFG's profit and loss account

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