The Knights Group Board is proposing a final dividend of 2.79p, which, together with the interim dividend of 1.61p per share gives a total dividend for the year of 4.40p (FY23: 4.03p), an increase of 9%. The dividend will be payable on 27 September 2024 to shareholders on the register at 30 August 2024, subject to shareholder approval at the Group's AGM.
Other financial highlights include:
Revenue increased by 6% to £150m (FY23: £142.1m); organic growth of 1.9%
Gross margin of 48.8% (FY23: 48.5%)
Underlying PBT up 17.3% to £25.3m (FY23: £21.6m); underlying PBT margin increased to 16.9% (FY23: 15.2%)
Reported PBT increased 28.6% to £14.8m (FY23: £11.5m)
Underlying EPS increased 8% to 21.81p (FY23: 20.20p). Basic EPS of 11.47p (FY23: 9.28p)
Strong improvement in lock up days to 78 (FY23: 87 days), with debtor days improving to 28 (FY23: 30 days)
Continued excellent cash conversion of 131% (FY23: 117%) enabling investment in growth
Net debt of £35.2m (30 April 23: £29.2m), after a cash outlay of £11.3m relating to acquisitions and a joint venture investment in Convex Corporate Finance Limited resulting in a reduction in banking covenant EBITDA / net debt ratio to 1.1x (30 April 2023: 1.2x)
