The Alpha Group International plc Board is to declare an interim dividend of 4.2 pence per share (2023: 3.7 pence). The interim dividend will be payable on 11 October 2024 to shareholders on the register at 13 September 2024. The ex-dividend date is 12 September 2024.
Other financial highlights include:
- Group revenue increased by 16% to over £64m (H1 2023: £55m)
- Corporate division revenue increased by 12% to £30m (H1 2023: £27m)
- Institutional division revenue increased by 15% to £33m (H1 2023: £29m)
- Cobase revenue increased by 80% to £1m, compared to H1 2023 pre-acquisition
- Underlying profit before tax up 14% to £22.3m, and on an organic basis (excluding Cobase) grew 21% to £23.7m (H1 2023: £19.6m)
- Organic underlying profit before tax margin of 38%, and including Cobase was 35% (H1 2023: 35%)
- Average client balances increased by 11% to £2.1bn (H1 2023: £1.9bn)
- Net treasury income (client and own) of £42m (H1 2023: £34m), increasing Total Income by 19% to £107m (H1 2023: £90m)
- Profit before tax increased 18% to £60.8m (H12 2023: £51.4m)
- Basic earnings per share up 13% to 104.3p (H1 20232: 92.4p) and on an underlying basis increased by 8% to 37.1p (H1 20232: 34.5p)
- Strong cash and liquidity position, with adjusted net cash of £180m (31 December 2023: £179m)
- Completed £20m share buyback in June 2024, with a further share buyback of up to £20m initiated in June
