JTC Plc declare an interim dividend of 3.5p per share, an increase of 0.4p period on period (H1 2022: 3.1p). The interim dividend will be paid on 20 October 2023 to shareholders on the register as at close of business on the record date of 22 September 2023. The shares will become ex-dividend on 21 September 2023.
Other financial highlights include:
Very strong net organic revenue growth of 21.0% (H1 2022: 9.5%), driven by the highly successful implementation of the Group's growth strategies
Revenue +30.6% to £121.5m (H1 2022: £93.0m)
Underlying EBITDA +30.8% to £40.2m (H1 2022: £30.7m) with an underlying EBITDA margin of 33.1% (H1 2022: 33.0%)
Record new business wins +15.9% to £14.6m (H1 2022: £12.6m)
Strong underlying cash conversion of 113% (H1 2022: 101%) alongside the SDTC equity fundraise in June has resulted in a significant reduction in leverage to 0.37x underlying EBITDA at period end
Following completion of the SDTC deal post period end, leverage is still expected to be below 2.0 times reported underlying EBITDA by the year-end, as previously announced
