The Sanne Board continues to adopt a progressive dividend policy where it seeks to increase the absolute value of the dividend each year, subject always to maintaining a sufficient level of dividend cover. Accordingly, the Board is recommending a final dividend of 9.4 pence per ordinary share (2018: 9.2 pence). The final dividend will be payable on 20 May 2020 to Shareholders on the register at close of business on 24 April 2020.
Together with the interim dividend of 4.7 pence per share, this gives a total dividend for the year of 14.1 pence per share (2018: 13.8 pence in total)
Other financial highlights include:
- Strong revenue momentum:
o Continuing operations revenue growth of 16.2%3 with organic growth from continuing operations of 13.5%
o Total Group revenue growth of 14.7% with organic total sales growth of 12.1%
o Strong new business wins, with annualised revenue of approximately £24.5 million secured in 2019 (2018: £24.5m) with momentum continuing into 2020
- Second half recovery, as anticipated, and strong cash flow:
o Material improvement in second half underlying operating profit margin to deliver 28.2% for the full year (H1: 26.4%), following decisive action addressing first half challenges
o Underlying operating cashflow generation of 105%
- Active strategic development programme for growth and focus:
o Disposal of legacy Private Client business for up to £12 million to focus on core alternative and corporate markets
o Extension of global network with office openings in Tokyo, San Diego and Mumbai
o Acquisition of Inbhear establishing Cayman presence and strengthening Irish service offering
o Investment in Colmore bringing new data analytics offering to our clients
- Statutory profits reflect exceptional one-off costs largely related to earn out payments for LIS and AgenSynd (£6.3m) as well as intangible impairment in South Africa (£2.4m)
