The Board has declared an interim dividend of 8.1p per share. This reflects their strong start to the year, the cash generative nature of the business and their confidence in the future prospects of the business. Their intention is to return, in time, to a cover ratio of around 2.5 times earnings, paid on an interim and final basis on a 1/3:2/3 split. The dividend will be paid on 3 August 2023.
Other Financial Highlights:
- Strong first half performance with Group revenue up 41% to £859m (2022: £608m)
- Headline profit before tax and non-underlying items of £45m (2022: £14m)
- Strong momentum across their global Travel business with significant recovery in passenger numbers, strong average transaction value ('ATV') growth, successful category expansion and further space growth
- 60 new stores won so far this year including 11 in Canada
- New store pipeline of over 120 stores won and yet to open in Travel, including 60 in North America
- Investing for growth with capex in the current financial year expected to be around £150m
- Total Travel trading profit* of £47m (2022: £10m)
- High Street trading profit* of £24m (2022: £26m)
- Strong start to the second half, trading momentum continues ahead of peak summer period
