At their AGM, the Board of Directors will propose a final ordinary dividend of 4.20 pence per share (FY23: 4.00 pence), amounting to £10.6 million (FY23: £10.1 million).
If approved, this will be paid on 2 August 2024 to ordinary shareholders whose names appear on the register of members at the close of business on 21 June 2024. The Group continues to operate a Dividend Reinvestment Plan, allowing eligible shareholders to reinvest their dividends into GBG shares.
Other financial highlights include:
Final results are in line with the trading update released on 23 April 2024
On a reported basis, revenue decreased by 0.5%. On a constant currency basis, growth was 2.7%
‒ Growth accelerated to 5.0% in the final quarter of the year, driven by improved trends in Identity Americas and EMEA
Strong focus on simplification and cost-effectiveness throughout the Group which delivered £10 million of annualised savings with a £8.8 million in-year benefit
‒ Adjusted operating profit of £61.4 million, up 8.0% excluding net gains from foreign exchange
‒ On a reported basis, operating loss of £41.4m, caused by the £54.7 million exceptional non-cash goodwill impairment charge that was recognised in the first half
Strong cash conversion of 90.6% (FY23: 67.3%) led to a reduction in net debt to £80.9 million (31 March 2023: £105.9 million)
