The Abcam's strong balance sheet and cash generation capability has allowed the Directors to propose an increase in the dividend for the year. Subject to approval at the AGM on 13 November 2019, the Board proposes to pay a final dividend of 8.58 pence (2017/18: 8.58 pence) per share.
Together with the interim dividend of 3.55 pence per share paid on 12 April, this makes a total dividend for the year of 12.13 pence (2017/18: 12.00 pence) per share, representing an increase of 1.1% compared to last year. If approved, the final dividend will be payable on 29 November 2019 to shareowners of record at the close of business on 8 November 2019. The ex-dividend date is 7 November 2019.
Other financial highlights include:
Total revenue up 11.4% on a reported basis and 9.2% on a constant exchange rate (CER) basis
Gross margin up 60 basis points to 70.5%, benefiting from an increasing mix of in-house products
EBITDA margin of 32.4% (2017/18: 35.0%), with Adjusted EBITDA margin of 35.6% (2017/18: 37.9%), reflect planned strategic investments in the business
Operating profit margin of 21.6% (2017/18: 29.5%), after a £12.8m non-cash impairment charge relating to historic Enterprise Resource Planning (ERP) development costs. Adjusted operating profit margin2 of 32.2% (2017/18: 34.9%)
Reported PBT declined to £56.4m (2017/18: £69.1m). Adjusted PBT grew 2.8% to £83.9m
Reported diluted EPS was 21.8p whilst adjusted diluted EPS grew 0.6% to 32.6p
Net cash inflow from operating activities of £70.2m (2017/18: £63.3m)
