The Group Empresarial San Jose SA Board has reviewed the dividend in line with the 2023 results and the current trading environment. For the year ended 31 December 2023 we are proposing a dividend of 1.0p per share, reduced from 1.4p in the prior year. This reflects the Board's confidence in the Group's medium-term prospects while acknowledging the lower level of profit in 2023. Subject to shareholder approval at the Annual General Meeting, the dividend will be paid on 13 June 2024 to shareholders on the register on 24 May 2024.
Other financial highlights include:
Adjusted operating profit down 50% to £5.1m - reduction in net fee income partially offset by cost reductions
Adjusted profit before tax down 61% to £3.5m reflecting increased interest costs
Adjusted, diluted earnings per share reduced to 0.6p reflecting relative strength of Offshore Services which has a 28% non-controlling interest
Adjusted net debt increased to £11.1m (31 December 2022: £7.9m) with strong headroom of £17.8m
Proposed dividend of 1.0p per share (2022: 1.4p) reflecting the Board's confidence in the Group's medium-term prospects while acknowledging the lower level of profit in 2023
Actions taken to reduce cost, reduce complexity and sharpen focus on core sectors
