The Spirax Sarco Board has declared an interim dividend of 38.5 pence (2020: 33.5 pence) per ordinary share, an increase of 15%. This growth in the interim dividend follows an increase of 7% in the total dividend in respect of 2020. The dividend will be paid on 12th November 2021 to shareholders on the register at the close of business on 14thOctober 2021. The final dividend of 84.5 pence per share in respect of 2020 was paid on 21st May 2021 at a cash cost of £62.3 million.
Other financial highlights include:
●Revenue growth of 13%, organic revenue growth of 17%
●Adjusted operating profit growth of 37%, organic profit growth 42%; up 39% on a statutory basis
●Adjusted operating margin of 25.3%, up 440 bps organically; up 450 bps on a statutory basis
●Strong order book growth across all three businesses
●Steam Specialties organic sales growth of 13%; margin up 430 bps organically
●Electric Thermal Solutions organic sales growth of 6%; margin up 250 bps organically
●Watson-Marlow organic sales growth of 35%; margin up 400 bps organically
●Net debt^ of £192.8 million; leverage reduced to 0.6x EBITDA (H1 2020: £326.0 million)
