The Porvair Board re-affirms its progressive dividend policy and recommends a final dividend of 3.3 pence per share, a cost of £1.5 million (2019: 3.2 pence per share, a cost of £1.5 million). The full year dividend increases by 2% to 5.0 pence per share, a cost of £2.3 million (2019: 4.9 pence per share, a cost of £2.2 million). The Company had £17.9 million (2019: £19.2 million) of distributable reserves at 30 November 2020.
Other financial highlights include:
Revenue 7% lower at £135.0 million (2019: £144.9 million).
Operating profit 15% lower at £12.6 million (2019: £14.8 million).
Adjusted operating profit 13% lower at £13.6 million (2019: £15.6 million).
Profit before tax 17% lower at £11.6 million (2019: £14.0 million). Adjusted profit before tax 15% lower at £12.6 million (2019: £14.8 million).
Basic earnings per share was 18.4 pence (2019: 23.6 pence). Adjusted basic earnings per share were 21.6 pence (2019: 25.3 pence).
Net cash was £4.9 million (2019: £4.0 million) after investing £4.2 million (2019: £14.1 million) in capital expenditure and acquisitions.
