The Directors have declared an interim dividend of 8.45 pence (H1 2019: 8.20 pence) per share payable on 17 January 2020 to shareholders on the register at 13 December 2019. The dividend declared will absorb an estimated £3,342,000 (H1 2019: £3,247,000) of shareholders funds. The dividend proposed at the year-end was subsequently approved at the AGM in July 2019 and £8,705,000 was paid in the period (H1 2019: £7,606,000 was paid). The cost of dividends in the Statement of Changes in Equity is after adjustments for the interim and final dividends waived by the Vp Employee Trust in relation to the shares it holds for the Group's share option schemes.
Other financial highlights include:
Profit before tax, amortisation and exceptional items maintained at £25.9 million (H1 2019: £25.9 million)
Revenues reduced by 3% to £186.6 million (H1 2019: £193.2 million)
EPS, pre amortisation and exceptional items, increased to 52.5 pence per share (H1 2019: 52.3 pence per share)
Return on average capital employed robust at 14.5% (H1 2019: 14.5%)
EBITDA increased slightly to £51.8 million (H1 2019: £51.6 million)
Capital investment in rental fleet down 28% at £26.6 million (H1 2019: £36.7 million)
Statutory profit before tax of £23.4 million (H1 2019: £23.9 million) and statutory earnings per share of 47.3 pence (H1 2019: 48.3 pence)
