The Board has approved an interim dividend of 6.18 pence per share (H1 FY19: 6.18 pence), which is flat year-on-year. This will be paid on 17 January 2020 to shareholders on the register at the close of business on 5 December 2019.
Other financial highlights include:
Group LFL sales declined by 2.4% in a tough market; sales returned to growth in the last six weeks of the period
In Retail, cycling sales grew and in motoring our core categories gained market share, however, sales of big-ticket discretionary products were softer
Autocentres, Group services, Online and B2B all delivered strong sales growth in the period
Autocentres EBIT pre-IFRS 16 increased 39.1% to £3.2m. The business continues to make strong progress on its transformation and remains on track to deliver a third year of profit growth
Group remains cash generative; Free Cash Flow* of £44.2m, up 29% on H1 last year. Net Debt to Underlying EBITDA pre-IFRS 16 on a comparable basis* 0.7 times (FY19: 0.7 times)
Strategic buying alliance agreed with Mobivia, a leading player in the European motoring products and services market
Post balance sheet acquisition of 100% of the share capital of McConechy's Tyre Service Limited and the trade and assets of Tyres on the Drive, for a combined consideration of £9.3m
FY20 Underlying Profit Before Tax guidance, pre-IFRS 16, reconfirmed at £50-55m
