For H1 19/20, the Mitie Group Board has declared a dividend of 1.33p in line with last year and their stated policy of paying one third of the previous year's total dividend as an interim dividend.
Interim dividend dates:
Ex-dividend date: 19 December 2019
Record date: 20 December 2019
DRIP Election date: 10 January 2020
Payment date: 4 February 2020
Other financial highlights include:
Revenue from continuing operations up 11% driven by the VSG acquisition and continued growth in strategic accounts (4%)
Operating profit before other items from continuing operations up 5% due to improved contributions from the Detention & Escorting Services contract and VSG, partly offset by lower renewal margins in certain contracts
Secured order book1 up 1% at £4.1bn since FY 18/19
Leverage 1.5x net debt/EBITDA (on pre-IFRS 16 frozen GAAP covenant basis) with period-end net debt of £148.1m (FY 18/19: £140.7m)
Average daily net debt reduced by £54.1m versus H1 18/19 (pre-IFRS 16)
Project Forte, the two-year transformation programme of our engineering business, has mobilised successfully and is tracking to plan, with confidence around the gross benefits of £30m
Strategic focus: Mitie Catering sold to CH&CO, their strategic partner
Management's expectations for full-year operating profit before other items, adjusted for the sale of Mitie Catering, remain in line with previous guidance
