In line with the Senior Board's decision from earlier in the year to reinstate dividends, and reflecting confidence in the Group's performance, financial position and future prospects, the Board is proposing a final dividend of 1.00 pence per share (2021 - nil pence) and this will be paid on 26 May 2023 to shareholders on the register at close of business on 28 April 2023. This would bring total dividends, paid and proposed for 2022 to 1.30 pence per share.
Other financial highlights include:
●Strong trading performance compared to prior year with significantly improved profitability
●Healthy book-to-bill of 1.24
●Excellent free cash flow of £27.7m, double prior year
●Acquired Spencer Aerospace with initial cash outlay of $30m
●Healthy balance sheet, with net debt / EBITDA(5) of 1.47x (prior year 1.87x)
●Achieved class "A" rating for their climate disclosure from CDP
●Another year of strong recovery and growth anticipated for 2023
