The Porvair Board recommends an increased final dividend of 3.2 pence per share, a cost of £1.5 million (2018: 3.0 pence per share, a cost of £1.4 million). The full year dividend increased by 7% to 4.9 pence per share, a cost of £2.2 million (2018: 4.6 pence per share, a cost of £2.1 million).
Other financial highlights include:
Record revenue was up 13% to £144.9 million (2018: £128.8 million), 10% on a constant currency basis.
Profit before tax was up 16% to a record £14.0 million (2018: £12.0 million).
Adjusted profit before tax was up 9% to £14.8 million (2018: £13.5 million).
Basic earnings per share were up 7% to 23.6 pence (2018: 22.1 pence) per share.
Adjusted basic earnings per share up 10% to 25.3 pence (2018: 22.9 pence) per share.
Net cash was £4.0 million (2018: £6.6 million) at 30 November 2019 after £14.1 million (2018: £13.5 million) invested in acquisitions and capital expenditure.
Dahlman Industrial Group B.V. ("Royal Dahlman") was acquired for £7.0 million in September 2019 and traded in line with expectations in its first quarter.
