The ScS dividend policy aims to ensure they target improving returns to shareholders, with earnings cover in the range of 1.25x to 2.00x and cash cover in the range of 1.75x to 2.25x. With this in mind, the Board is proposing a final dividend of 11.20p. If approved, this would give a full-year dividend of 16.70p, an increase of 3.1% on the full-year dividend for 2018.
Other financial highlights include:
Gross sales improved £5.8m to £333.3m (2018: £327.5m)
Revenue improved £4.6m to £317.4m (2018: £312.8m)
Gross margin maintained at 45.0% (2018: 45.0%)
Underlying EBITDA from continuing operations improved by £0.6m to £19.7m (2018: £19.1m)
Underlying operating profit from continuing operations increased 4.6% to £14.3m (2018: £13.7m)
Operating profit from continuing operations of £13.9m (2018: £13.7m)
Underlying earnings per share of 30.3p (2018: 26.8p), an increase of 13.1%
Statutory earnings per share of 28.5p (2018: 26.8p)
Free cash flows in the year of £16.0m
Strong balance sheet with cash of £57.7m (2018: £48.2m) and no debt
