Serco Group Plc will be paying an interim dividend of 0.94p per share. The ex-dividend date is 8 September 2022. The record date is 9 September 2022. The interim dividend is payable on 6 October 2022.
Other Financial Highlights:
Revenues: strong growth across the business offsets revenue reductions from Test & Trace. Revenue excluding Test & Trace up 12%.
Underlying Trading Margin increases: up from 5.7% to 5.9%.
Underlying Trading Profit, Trading Profit and Operating Profit all up 6%. More than three-quarters of profit earned outside of the UK(7).
Underlying Earnings per Share up 14%: growing faster than UTP due to lower interest and tax.
Reported Earnings per Share: prior year included recognition of £145m UK deferred tax asset.
Underlying trading profit cash conversion: >100%.
Reduced Adjusted Net Debt: down £61m to £164m. Covenant leverage 0.5x EBITDA (2021: 1.0x).
Return on Invested Capital: 21.5%, same as prior year.
Order book up £0.5bn on prior year to £14.6bn. Order intake £2.0bn, book-to-bill 94%.
Healthy New Business Pipeline at £8.1bn, up around 40% year-on-year.
Full year guidance slightly increased to reflect trading in May and June, and additional FX benefit.
