Alumasc increases 2014 final dividend by 12%
Best profit performance for five years reflects underlying growth in revenues from Building Products at improved margins, offsetting non-repeat of prior year Kitimat and CESP project work; a halving of operating losses from Engineering Products; and lower interest costs due to a strong cash flow performance.
Building Products profit of £8.3m (2012/13: £8.4m) on revenue down 5% to £83.5m. Underlying revenues, excluding Kitimat and CESP projects, were 2% ahead, continuing the outperformance against the UK construction market over recent years. Strong performance from Rainwater & Drainage brands and Timloc. Roofing businesses returned to profit. Momentum is building in export markets for Solar Shading and Construction Products.
Engineering Products halved operatingloss to £0.2m on revenue up 5% to £31m. Alumasc Precision Components is now broadly EBITDA break-even but, in view of a tough trading environment with large OEM customers, recovery back to operating profit will take longer than anticipated. Dyson Diecastings had another record year with operating profits of over £1m, benefiting from a more diverse customer base in premium automotive and other industrial markets.
Net debt of £7.7m at the year end, was unchanged on 30 June 2013, despite reversal of payments in advance on construction contracts, reflecting strong operating cash flows. Average net debt for the year was the lowest since 2007.
Proposed final dividend of 2.8p, an increase of 12%, with the Board confirming its previous intention of growing future dividends in line with earnings.
Paul Hooper, Chief Executive, commented:
"…with the strength of Alumasc's niche market positions and management teams, and with our ongoing investment in innovation, new product development and increasing export sales opportunities, Alumasc is well positioned to further grow its building products activities and improve shareholder value from its Engineering Products division."
Within its Year End Results announcement on 5 March 2020 the Company proposed a final dividend for the year ending 30 December 2019 of 11 pence per share.Read more
In the current circumstances the Marks & Spencer Board does not anticipate making a final dividend payment for this financial year, resulting in an anticipated cash saving of c.£130m. They will review their policy at the interim results in November as visibility improves.Read more
The Group has continued to generate strong cash flows, deliver growth and build a balance sheet of increasing resilience. As a consequence, the Board has announced an interim dividend of 5.50p per ordinary share (2019: 5.50p). This dividend will be payable on 7 May 2020 to shareholders on the register on 17 April 2020. The ex-dividend date is 18 April 2020.Read more
In view of current uncertainty, the board has decided to cancel the interim dividend (2019: £4.2m).Read more
Due to the rapidly evolving situation and the UK Government response to the impact of COVID-19, the Travis Perkins Board expects the trading environment to change quickly and materially in the coming weeks. In response to this, the Board is taking prudent decisions in order to successfully navigate this period of turmoil. These include the suspension of the proposed full-year 2019 dividend and the pausing of the Wickes demerger process in light of current extreme stock market volatility.Read more
Due to the unprecedented uncertainty facing businesses around the world from Covid-19, Portmeirion are not recommending a final dividend at this time. They will review in three months and consider declaring an additional interim dividend in line with the final dividend for 2018 (29.50p). This will preserve approximately £3.1 million in forecast cash as part of Covid-19 contingency measures.Read more
The OneSavingsBank Board recommends a final dividend for 2019 of 11.2 pence per share. Together with the 2019 interim dividend of 4.9 pence per share and the pre-Combination CCFS interim dividend of 4.3 pence per share, this represents 25% of pro forma underlying profit attributable to ordinary shareholders. For calculation of 2019 final dividend, see Appendix.Read more
The TClarke Directors are proposing a final dividend of 3.65p (2018: 3.34p) per ordinary share totalling £1.6 million (2018: £1.4 million). Subject to approval at the Annual General Meeting, the final dividend will be paid on 22nd May 2020 to shareholders on the register as at 24th April 2020. The shares will go ex-dividend on 23rd April 2020. This dividend has not been accrued at the balance sheet date. A dividend reinvestment plan is available to shareholders.Read more
The NewRiver REIT have announce their focus is on managing cash resources very carefully and maintaining liquidity in the business. The Company has £72 million of unrestricted cash reserves and £45 million of undrawn revolving credit facilities, giving available liquidity of £117 million.Read more