The Fuller Smith & Turner Board is to announce an interim dividend of 4.68p (H1 2022: 3.90p) per 40p 'A' and 'C' ordinary share and 0.468p (H1 2022: 0.390p) per 4p 'B' ordinary share. This will be paid on 3 January 2023 to shareholders on the share register as at 16 December 2022. This payment equates to 60% of the 2019 payment and continues our return to a progressive dividend policy.
Other financial highlights include:
Revenues grew to £168.9 million (H1 2022: £116.3 million) as the business recovered from the impact of covid related restrictions on trade
Like for like sales in the first half have grown by 20% compared to the prior year, with Central London growing by 67%
Adjusted profit before tax increased to £9.8 million (H1 2022: £4.6 million) as the benefit of the sales recovery exceeded inflationary increases in the cost base
Net debt is at £129.2 million (H1 2022: £131.5 million) with the cash generated by the business funding investment in the estate and returns to shareholders
Significant capacity to invest in growth with a four year £200 million bank facility effective from May 2022
