The Strix Group plc Board declares an interim dividend of 2.75p per share (2021: 2.75p).
The interim dividend will be paid on 28 October 2022 to shareholders on the register at 7 October 2022 and the shares will trade ex-dividend from 6 October 2022.
Other financial highlights include:
The Group reported revenue of £50.7m, a decrease of 7.3% versus the same period in prior year and an increase of 15.5% versus the same period in pre-COVID 2019 as revenues were adversely impacted by the ongoing conflict in Ukraine on certain peripheral geographies.
Adjusted gross profit margin was 38.5% (2021: 37.5%) driven by the Group's ability to manage costs and to flex variable overheads in line with sales performance.
Adjusted profit after tax was £11.6m (2021: £12.3m), representing a 5.7% decrease compared to the same period last year and an increase of 6.4% versus the comparable period in pre-COVID 2019.
Net debt increased to £61.3m (FY 2021: £51.2m) as a result of further drawdowns to fund net working capital, capital expenditure and employment earn-out payments. This represents a net debt/adjusted EBITDA ratio (calculated on a trailing twelve month basis) of 1.6x.
The Group has significant liquidity providing financial flexibility to continue to deploy capital consistent with its allocation of capital priorities and is focused on investing in compelling growth opportunities.
Adjusted basic earnings per share and adjusted diluted earnings per share were 5.6p (H1 2021: 6.0p) and 5.5p (H1 2021: 5.9p) respectively.
