Due to the continued strength of performance and confidence in the outlook, the Tyman PLC Board is reinstating their dividend in line with the Group's progressive dividend policy. An interim dividend of 4.0 pence per share will be paid on 10 September 2021 to shareholders on the register at close of business on 6 August 2021. This represents growth of 4% compared to H1 2019.
Other financial highlights include:
• Results exceeded expectations with LFL revenue growth of 10% against H1 2019, due to strong market demand and market share gains
• Volume recovery, pricing benefits and self-help initiatives delivered LFL adjusted operating profit up 20% against H1 2019
• Performance achieved despite unprecedented industrywide inflationary pressures and supply chain challenges, including raw material and labour shortages
• ROCE improvement of 280bps against H1 2019 to 15.5%
• Reduction in leverage to 0.9x
