Marks Electrical Group Plc announce an interim dividend maintained at 0.30p per share (H1-24: 0.30p), to be be paid on 20 December 2024 to shareholders who are on the register at the close of business on 29 November 2024, and shares will be marked ex-dividend on 28 November 2024.
Other financial highlights include:
Robust first half trading period with revenue growth of 9.3% to £58.8m (H1-24: £53.9m).
Particularly strong volume growth with Major Domestic appliances achieving 13% volume growth during the Period and Consumer Electronics over 90% volume growth against H1-24.
Adjusted EBITDA of £2.0m (H1-24: £2.3m) at 3.4% margin (H1-24: 4.3%).
Gross product margin was 24.6% (H1-24: 24.9%), with underlying margin expansion in Major Domestic Appliances offset by a strong mix-shift towards lower margin Consumer Electronics.
Continued focus on working capital management and disciplined approach to capital expenditure delivered free cash flow of £1.7m (H1-24: £1.7m).
Adjusted EPS of 0.72p (H1-24: 1.11p), Statutory EPS of (0.79)p (H1-24: 0.83p).
