The final dividend for the year ended 31 March 2019 of 4.6 pence per share (H1 2019: 4.0 pence) was paid on 27 September 2019, totaling £42.6m (H1 2019: £37.9m). During the period, a total of 5.1 million shares (H1 2019: 9.6 million) were repurchased for a total consideration of £27.2m (H1 2019: £42.9m) before transaction costs of £0.1m (H1 2019: £0.2m). This decrease in the number of shares repurchased in the period was largely due to a reduction in the level of surplus cash available. Total cash returned to shareholders in the period was £69.8m (H1 2019: £80.8m).
For H1 2020, the Board has declared an interim dividend of 2.4 pence per share. The interim dividend will be paidon 24 January 2020 to members on the register on 3 January 2020.
Other financial highlights include:
- Revenue up 6% to £186.7 million (H1 2019: £176.8 million)
- Operating profit up 9% to £131.4 million (H1 2019: £120.6 million) with Operating profit margin increasing to 70% (H1 2019: 68%)
- Profit before tax up 12% to £127.7 million (H1 2019: £114.5 million)
- Basic EPS up 14% to 11.13 pence (H1 2019: 9.78 pence)
- Cash generated from operations up 3% to £132.7 million (H1 2019: £129.0 million). Cash conversion was at 98% (H1 2019: 101%)
- £69.8 million returned to shareholders (H1 2019: £80.8 million) through £27.2 million of share buy-backs (H1 2019: £42.9 million) plus dividends paid of £42.6 million (H1 2019: £37.9 million)
