Alumasc maintain dividend at 7.35p per share
The Alumasc Board has decided to recommend to shareholders an unchanged final dividend of 4.4 pence per share (2017/18: 4.4 pence), applicable to members on the share register on 27 September and to be paid on 31 October. This takes the total dividend for the year to 7.35 pence, again unchanged on the prior year.
Alumasc has a progressive dividend policy that seeks to grow the dividend broadly in line with underlying earnings growth, having regard to the extent to which dividend payments are covered by underlying earnings, after taking into account pension scheme funding commitments.
Other financial highlights include:
Group revenues up 4% to £90.1m (2018: £87.0m)
Underlying profit before tax* £5.6m (2018: £6.0m) reflecting the previously reported performance from Levolux
Basic earnings per share of 10.1 pence (2018: 12.0 pence)
Net debt of £5.1m (2018: £4.8m)
Core businesses which represent 80% of Group revenues: Roofing & Water Management and Housebuilding Products, performing strongly with YoY growth and margin improvement.
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