The judgement of the Caffyns PLC board is that the performance of the business in the first half of the year meant that it would be appropriate to restart dividend payments and, accordingly, the board declared an interim dividend of 7.5 pence per ordinary share (2021: Nil pence per ordinary share). The board is also declaring a final dividend for the year of 15.0 pence (2021: Nil pence per ordinary share) which will be paid on 9 August 2022 to those shareholders on the register at close of business on 8 July 2022, subject to shareholder approval at the 2022 Annual General Meeting. The ordinary shares will be marked ex-dividend on 7 July 2022.
Other financial highlights include:
Revenue up 36% to £223.9 million (2021: 165.1 million) due to a buoyant used car market
Like-for-like new car unit deliveries up by 7%
Like-for-like used car unit sales up by 24%
Like-for-like aftersales revenues up by 19% to £19.2 million
Underlying profit before tax of £4.6 million (2021: £1.9 million)
Net bank borrowings at 31 March 2022 as disclosed in note 21 were £10.4 million (2021: £10.3 million)
Property portfolio revaluation at 31 March 2022 showed a £13.3 million surplus (2021: £12.3 million surplus) to net book value
