The Renold Plc Board is recommending the payment of a dividend on the ordinary shares of the Company for the year ended 31 March 2024 of 0.5p per ordinary share. The dividend, if approved by shareholders at the 2024 Annual General Meeting, will be paid on 17 September 2024 to shareholders on the register as at 9 August 2024. The shares will be marked ex-dividend on 8 August 2024.
Other financial highlights:
Revenue of £241.4m, 2.3% lower year on year due to currency headwinds, (up 0.9% at constant exchange rates) (FY23: £247.1m)
Adjusted operating profit of £29.7m (FY23: £24.2m), up 22.7% as a result of significantly increased margins with return on sales of 12.3%, up 250bps
Reported operating profit up 33.2% to £30.5m (FY23: £22.9m)
Net debt as at 31 March 2024 of £24.9m, a reduction of £4.9m, after acquisition payments of £5.2m, EBT purchases of £4.5m and deferred capital expenditure of £2.2m
Year end net debt of 0.6x adjusted EBITDA (31 March 2023: 0.8x)
Adjusted EPS up 20.0% to 7.8p (FY23: 6.5p); Basic EPS 8.3p (FY23: 5.7p)
