An interim dividend of 0.90p per share (H2 FY24: 0.85p) in respect of FY25 will be paid on 17 January 2025. The ex-dividend date will be 12 December 2024 and the associated record date 13 December 2024.
Other financial highlights include:
- Total Group revenue for the Period increased by 2.9% compared to H1 FY24.
- Group aftersales operations delivered a robust performance, delivering Core Group gross profit growth of £7.1m.
- Used vehicle like-for-like volume growth of 3.9% and gross margin increased to 7.3%.
- Group new retail vehicle sales volumes down 5.9% in the Period with significant market share gains as UK market saw an 11.2% decline.
- BEV new retail sales volumes in UK fell in the Period by 7.0%, however, Group grew retail BEV sales volumes by 10.9% as the Group focused on this critical channel.
- H1 profits lower than prior year levels as anticipated as costs increased due to cost inflation and increased headcount to drive activity.
- The Group's balance sheet remains strong with gearing levels below target, gearing ratio of 23.1%.
- Tangible net asset per share increased to 73.7p (H1 FY24: 70.9p).
- 3.3m shares (representing 1.0% of share capital in issue on 1 March 2024) repurchased at a cost of £2.4m since 1 March 2024: buyback continues with a further £3m programme in addition to £0.6m remaining of the existing authority.
