The Cranswick interim dividend is being increased by 5.0 per cent to 16.7 pence per share from 15.9 pence per share previously. The dividend will be paid on 24 January 2020 to Shareholders on the register at the close of business on 13 December 2019. Shareholders will again have the option to receive the dividend by way of a scrip issue.
Other financial highlights include:
Total revenue in the period was £770.0 million, 7.1 per cent higher than in the corresponding period a year ago. Like-for-like revenue, excluding Katsouris Brothers, was 5.4 per cent higher.
Adjusted profit before tax for the period was 3.6 per cent higher at £46.4 million compared to £44.8 million in the corresponding period last year. Adjusted earnings per share on the same basis was up 2.3 per cent at 71.6 pence compared to 70.0 pence in the equivalent period last year.
Net debt at the end of the period rose to £113.7 million reflecting primarily the acquisition of Katsouris Brothers (£41.3 million net cash consideration), the substantial capital expenditure programme and recognition of IFRS 16 lease liability (£46.5 million). The