RPS Group have announced a proposed final dividend of 2.00p (FY 2018: 5.08p) providing full year dividend of 4.42p (FY 2018: 9.88p). This follows the rebasing of the dividend announced at H1 2019 and reflects the stated new, sustainable dividend policy of paying out 40% of adjusted earnings.
Other financial highlights include:
Fee income £556.5m (FY 2018: £574.2m)
PBTA £37.3m (FY 2018: £50.2m)
EPS (adjusted, diluted) 12.31p (FY 2018: 16.34p)
Exceptional items totalling £23.4m (FY 2018: £nil) including goodwill impairment in AAP of £19.8m (FY 2018: £nil)
Statutory profit before tax £4.8m (FY 2018: £41.0m)
Strong cash conversion 90% (FY 2018: 94%)
Net bank borrowing £94.1m (FY 2018: £73.9m; H1 2019: £101.3m); leverage 2.0x (FY 2018: 1.3x)
Successfully refinanced the RCF with a committed £100m facility and uncommitted £60m accordion facility
