The Belvoir board is proposing that the interim dividend for 2019 be maintained at 3.4p per share. The Group aims to offer a reliable and growing income stream to investors whilst also investing in the business to further its strategic growth objectives.
The interim dividend is payable to shareholders on 24 October 2019 based upon the register on 13 September 2019. The ex-dividend date will be 12 September 2019. The adjusted interim dividend cover is at 2.0x (H1 2018: 1.6x).48% increase in Group revenue to £9,047,000 (H1 2018: £6,123,000)
Other financial highlights include:
5% increase in Management Service Fees (MSF) to £4,201,000 (H1 2018: £4,015,000)
Financial Services division revenue up significantly to £3,969,000 (H1 2018: £1,311,000) benefitting from November 2018 acquisition of MAB (Gloucester) Limited ("MAB Glos")
18% increase in gross profit to £6,198,000 (H1 2018: £5,242,000)
23% increase in adjusted profit before tax to £2,999,000 (H1 2018: £2,429,000)
MAB Glos and the underlying business each contributed around 50% of the increased gross profit and adjusted profit before tax
Adjusted earnings per share up by 21% to 6.9p (H1 2018: 5.7p) and basic earnings per share of 6.1p (2018: 6.9p - included exceptional £0.8m credit to profi
