The Spirent Communications Board has declared an interim dividend of 2.39 cents per Ordinary Share, a 10 per cent increase over the dividend declared for the first half 2020 of 2.17 cents. This is equivalent to 1.72 pence per Ordinary Share at an exchange rate of $1.39:£1 (first half 2020: 1.67 pence). The payment will be approximately $14.6 million. The dividend will be paid to Ordinary shareholders on 17 September 2021 and to ADR holders on 24 September 2021. The dividend is payable to all shareholders on the Register of Members at the close of business on 13 August 2021.
Other fiinancial highlights include:
Order intake growth of 14 per cent; 11 per cent organic.
Revenue up 9 per cent (7 per cent organic) driven by continued strong demand for their lab and live assurance solutions and their 5G device test solutions.
Strong growth in their orderbook, as their book to bill was 103, and visibility has also improved into future years as more multi-year contracts have been secured.
13 per cent growth in adjusted operating profit to $44.7 million, with operating margin remaining strong.
Adjusted profit before tax increased by 12 per cent.
Reported profit before tax of $34.8 million is stated after acquisition related items of $6.3 million, compared to $36.0 million in the first half of 2020, where acquisition items were nil.
Cash closed at $156.4 million, following the payment of $51.3 million for the acquisition of octoScope, $45.6 million special dividend and $23.5 million ordinary dividend in the first half.
