The Marshalls board has declared an interim dividend of 4.70 pence (2018: 4.00 pence) per share, an increase of 18 per cent, reflecting the strong cash generation and the Group's continuing progressive dividend policy. The Board will continue to adhere to the Group's capital allocation policy and the policy of maintaining a 2 times dividend cover.
Other financial highlights include:
Revenue growth of 15% to £280.1 million (2018: £244.3 million)
Operating margins slightly ahead to 13.9% (2018: 13.7%)
Edenhall performed well in the period and its integration is on track and well advanced
The Group's strong cash generation has continued
Net debt of £55.6 million (2018: £48.9 million) on a pre IFRS 16 basis
Reported net debt of £97.7 million, after the inclusion of £42.1 million IFRS 16 lease liabilities
Payment of £23.8 million final and supplementary dividends on 28 June 2019
Return on capital employed for the 12 months ended 30 June 2019 of 21.4% (pre IFRS 16 basis)
Trading since the period end has remained strong
