The Epwin Group Plc Board is recommending a final dividend of 2.35 pence per share (2020: 1.00 pence per share) to be paid on 6 June 2022 to shareholders on the register on 13 May 2022. Along with the interim dividend of 1.75 pence per ordinary share, paid in October 2021, this takes the full year dividend to 4.10 pence per ordinary share (2020: 1.00 pence per share).
Other financial highlights include:
Strong trading performance:
o Record revenues of £329.6 million, 37% ahead of 2020 and 17% ahead of 2019
o Underlying operating profit of £18.5 million (2020: £9.4 million, 2019: £21.2 million)
o Strong cash generation with pre-tax operating cash inflow of £34.9 million (2020: £23.7 million, 2019: £34.8 million) and underlying operating cash conversion of 189%
o Continued resilience of Group's core markets, with high RMI demand throughout 2021
Financial position strengthened:
o Covenant net debt significantly reduced to £9.4 million (2020: £18.5 million)
o Covenant net debt 0.4x adjusted EBITDA, after £5.3 million cash cost of acquisitions
o Significant headroom on banking facilities, in excess of £65 million, to support growth strategy
