The Eurocell PLC Board proposes a final dividend of 6.4 pence per share, resulting in total dividends for the year of 9.6 pence per share. No dividends were paid in respect of 2020 due to the impact of COVID-19.
Other financial highlights include:
• Continued successful deployment of commercial strategies supported by strong underlying demand in their end markets, with revenue up 23% vs 2019, including:
- Profiles up 22%: good contribution from trade and new build fabricators, as well as a very strong performance from Vista doors
- Building Plastics up 24%: excellent performance across full range of manufactured products and traded goods
-c.8% from selling price increases and a surcharge implemented to recover raw material price inflation
• Surcharge successfully recovered higher raw material costs, but dilutive to gross margin percentage
• Profit before tax up 19% vs 2019, driven by higher sales volumes
• Continued investment in business growth, with capex of £16.7 million including c.£7 million to expand manufacturing capacity, c.£2 million to increase logistics capability and c.£2 million for new branches
•Robust balance sheet and liquidity, with pre-IFRS 16 net debt of £11.0 million (2020: £9.9 million)
