An interim dividend of 3.25 pence per share is planned for payment in April 2021, reflecting the Alumasc Board's confidence in the underlying strength of the business and strategic growth opportunities available to it. This would be an increase from the 2.95 pence per share interim dividend that was planned for April 2020 but which was cancelled in light of the Pandemic's onset.
Other financial highlights include:
- Group revenues were up by 11% to £45.6 million (2019: £41.1 million), with UK revenues 9% ahead and exports (representing 13% of Group revenues) 23% ahead
- Underlying operating margins were ahead by 7.5 percentage points to 13.6% (2019: 6.1%) reflecting increased sales, improved margins and the benefit of the prior year cost reduction programme in lower overheads
- Underlying profit before tax was £6.0 million (2019: £2.3 million)
- EBITDA was £7.4 million (2019: £3.5 million)
- Statutory profit before tax was £5.5 million (2019: £2.1 million)
- Underlying earnings per share were 13.4 pence (2019: 5.1 pence) and basic earnings per share 12.2 pence (2019: 5.0 pence)
- Net bank debt at 31 December was £0.2 million (30 June 2020: £4.3 million), benefitting from strong focus on working capital management
- Pension deficit at 31 December was £12.8 million (30 June 2020: £19.3 million), benefitting from a strong investment performance
