The Board has declared an interim dividend of 2p per share payable on 11 October 2019 to shareholders registered on the record date 20 September 2019.
Bakkavor, at the AGM on 23 May 2019, declared a final dividend of 4.0p per share to each of the Ordinary shareholders for the period ended 29 December 2018. The total amount of £23.2 million was paid on 29 May 2019.
Other financial highlights include:
Group revenue up 1.4% to £923.0m
Group like-for-like revenue1 up 2.0% to £877.9m
o UK performance held in very challenging market, with 0.7% increase to £772.2m
o International growth accelerated, with growth of 12.7% to £105.7m
Adjusted EBITDA1 pre IFRS 16 down 6.5% to £73.5m with margins down 60bps as expected
Operating profit impacted by £13.1m of exceptional costs and £8.3m of start-up losses for new sites
Basic earnings per share of 3.0p and adjusted earnings per share of 5.9p
Operational net debt increased to £356.6m following a period of planned capital investment