Accuracy Coverage Pricing Help Centre Contact

BBA increase interim dividend 5% to 4.2¢

Investment Tools Ltd.
BBA increase interim dividend 5% to 4.2¢

BBA have increased their interim dividend increased by 5% to 4.2¢ reflecting continued confidence in the Group's future growth prospects and free cash generation.

Other financial highlights include:

Total Group underlying operating profit, on a pre IFRS 16 basis, grew 5.3% to $190.0 million (H1 2018: $180.5 million); Signature FBO network outperformed the US B&GA market 

Proposed sale of Ontic to CVC for $1,365 million announced on 30 July 2019

Continuing operations: 

o Signature 

Organic revenue up 0.4% (Signature FBO up 1.0%) with new commercial initiatives contributing to outperformance against a strong prior year comparative 

US B&GA market growth of 0.3% in the six months to June 2019

Underlying Signature FBO operating profit on a pre-IFRS 16 basis reduced 2.6% to $156.4 million (H1 2018: $160.5 million) in a flat H1 US B&GA market with reduced heavy jet traffic in our network

EPIC acquisition delivered $2.9 million operating profit for six months as expected, with card and network fuel benefits to come from H2 19 onwards

o Ontic 

Underlying operating profit growth on a pre IFRS 16 basis increased to $31.7 million (H1 2018: $24.5 million), driven by good organic growth and the Firstmark acquisition

Further licence signed with Meggitt in the period

Firstmark acquisition integrating well and proceeding to plan

Discontinued operations: 

o Engine Repair and Overhaul (ERO) delivered underlying operating profit performance of $18.8 million on a pre IFRS 16 basis (H1 2018: $13.4 million) through robust trading with the benefit of depreciation and amortisation suspension

Group statutory operating profit is up 21.7% at $156.0 million (H1 2018: $128.2 million) due to the adoption of IFRS 16 on 1 January 2019

Total Group free cashflow up 12.8% to $129.2 m (H1 2018: $114.5 million) highlighting inherently strong free cash flow generation

Leverage stable at 2.8x net debt/underlying EBITDA on a covenant basis, well within our target range of 2.5-3.0x, reflecting continued strong free cash flow generation funding Ontic licence investment in the period and our progressive dividend

Total Group ROIC on a pre IFRS 16 basis is flat at 11.4% (Dec 2018: 11.4%)

Underlying Total Group adjusted basic EPS (pre IFRS 16) decreased by 3% to 11.3¢ (2018: 11.7¢). Total Group basic EPS (pre IFRS 16) decreased by 43.1% to 3.7¢ (2018: 6.5¢) reflecting higher exceptional and other item charges

Companies mentioned

Latest News

Investment Tools Limited

 There has been one cancelled and one reduced dividend today, these are:

Read more
Investment Tools Limited

There has been one cancelled dividend today, this is:

Read more
Investment Tools Limited

There has been one cancelled and one deferred dividend today, these are:

Read more
Investment Tools Limited

There has been one cancelled dividend today, this is:

Read more
Investment Tools Limited

There has been 2 cancelled dividends today, these include:

Read more
Investment Tools Limited

There has been one cancelled dividend today, this is:

Read more
Investment Tools Limited

There has been a number of cancelled and suspended dividends today, these include:

Read more
Investment Tools Limited

The Directors of M Winkworth Plc ("Winkworth" or the "Company") have announced that the Company will pay a dividend of 1.68p per ordinary share for the first quarter of 2020 to shareholders.

Read more
Investment Tools Limited

During 2019 Chesnara continued to deliver strong cash generation, funding the dividend strategy as well as maintaining a robust group solvency ratio. Economic Value increased significantly as a result of favourable economic conditions, despite the impact of a substantive foreign exchange loss due to currency fluctuations.  Prudent financial and operational management has resulted in Chesnara's operations, solvency and dividends all being resilient to the impacts of Covid-19, however the Economic Value will have fallen subsequent to the year end.

Read more
Investment Tools Limited

888, a popular online gaming entertainment and solutions providers, announces that its board of directors has recommended the payment of a final dividend comprising 3.0 cents per share.

Read more
More News