Restore Plc announce their Board is recommending a final dividend of 3.8 pence, payable on 18 July 2025 to shareholders on the register at the close of business on 13 June 2025 and will be marked ex on 12 June 2025. This brings the total dividend for the year to 5.8 pence (2023: 5.2 pence), an increase of 12%.
Other financial highlights include:
Group revenue was £275.3m, broadly flat on prior year (2023: £277.1m), with the high proportion of recurring storage income in Information Management continuing to support overall revenue, offset by a slow relocations market for Harrow Green, weak operational delivery in their former Digital business, and reduced paper prices in Datashred during H1.
Adjusted operating margin increased by 170bps to 17.7% (2023: 16.0%), reflecting their actions to improve profitability and progressing towards their medium-term target of 20%.
Adjusted profit before tax increased by 14% to £34.4m (2023: £30.3m), with adjusted EPS up 12% to 19.0p (2023: 17.0p).
Free cashflow of £39.1m (2023: £37.3m), with cash conversion of 107% (FY23: 110%). Leverage reduced to 1.6x from 1.9x at 31 December 2023.
