Alumasc Group plc (ALU:LSE), has approved an interim dividend per share of 3.45 pence (FY23 interim dividend: 3.40 pence) which will be paid on 8 April 2024 to shareholders. The cash cost of the dividend is expected to be £1,240,000. As the dividend was approved after the statement of financial position date, it has not been accrued in the interim consolidated financial statements. A final dividend per share of 6.90 pence for the 2022/23 financial year was paid at a cash cost of £2,482,000 from six months to 31 December 2023.
Other financial highlights include:
- Group revenues up by 6.4% to £47.8m (H1 FY23: £45.0m)
- Underlying Group operating margin of 14.1% (H1 FY23: 13.4%): Water Management 16.0% (H1 FY23: 12.8%). Building Envelope 12.8% (H1 FY23: 14.1%).
- Underlying profit before tax grew 12.4% to £6.3m (H1 FY23: £5.6m) due to increased volumes and focus on price and cost control.
- Reported profit before tax was £5.6m (H1 FY23: £5.3m).
- Underlying earnings per share of 13.0p (H1 FY23: 12.3p).
- Statutory earnings per share (continuing operations) of 11.4p (H1 FY23: 12.5p).
- Net bank debt in December 2023 was £7.4m (H1 FY2023: £6.8m), after net cash outflow on ARP acquisition of £6.5m: Representing gearing of 0.5x (H1 FY2023: 0.5x). Within bank covenant of less than 2.5x.
