The NCC Group Board is recommending an unchanged interim dividend of 1.50p per ordinary share (H1 2019: 1.50p). This represents a dividend equal to that paid in the prior year as the Board is conscious of the need to invest in the SGT programme and other initiatives to support longer term growth. The dividend policy will therefore continue to remain under review.
The interim dividend will be paid on 6 March 2020, to shareholders on the register at the close of business on 7 February 2020. The ex-dividend date is 6 February 2020.
Other financial highlights include:
NCC Group has continued to grow revenue, profit and cash flow while maintaining progress through its transformation programme. Revenue was up 5.3% and adjusted operating profit increased by 11.5% over H1 2019, while the Group also delivered improved cash flow with cash conversion on a like-for-like basis of 74.5% compared to 58.0% 2 in H1 FY19. On a statutory basis, operating profit increased by 10.5% to £10.5m (H1 2019: £9.5m) and profit before taxation increased 3.4% to £9.0m giving rise to a statutory EPS of 2.4p (H1 2019: 2.4p) and adjusted basic EPS of 4.2p (H1 2019: 3.9p) respectively.
