The Concurrent Board has proposed a final dividend of 1.40 pence per share (second interim dividend in 2020: 1.45 pence) which, when added to the first interim dividend of 1.15 pence per share (2020: 1.10 pence), will make a total of 2.55 pence per share for the year (2020: 2.55 pence). Keeping a flat dividend reflects the ongoing concerns on the component shortage and the Group plans to engage with shareholders on the future dividend strategy. The total cost of the final dividend amounts to £1,034,600.
Other financial highlights include:
Revenue for the year slightly ahead of market expectations at £20.5m (2020: £21.1m)
Gross profit steady at £11.4m (2020: £11.4m)
Gross margin increased to 55.9% (2020: 53.7%)
EBITDA increased to £5.1m (2020: £5.0m)
Profit before Tax increased 22% to £3.5m (2020: £2.8m)
Profit after Tax increased to £2.8m (2020: £2.7m)
Non-cash deferred tax charge of £0.5m reflecting increase in UK tax to 25%
EPS increased to 3.88p (2020: 3.75p)
Cash in the business steady at £11.8m (2020: £11.8m)
Prior year restatement in 2019 to increase net assets by £0.3m
