In line with Stock Spirits Group plc progressive dividend policy, their proposed final dividend results in a total dividend for the year up +5.1% on the prior period 'enhanced' dividend, which was paid for the 9 month prior period. The final proposed dividend is 6.31 €cents per share (final dividend for the 9 month to Sept 2018: 6.01 €cents). In total for the year, this results in dividends of 8.94 €cents per share (9 month to Sept 2018: 8.51 €cents per share).
Other financial highlights include:
Strong underlying volume (+8.0%) and revenue (+10.1% on a proforma constant currency basis) performance reflecting their successful growth strategy; delivered premiumisation target a year ahead of plan.
Poland: turnaround now complete having delivered 29 consecutive months of year-on-year volume share growth. Revenue from Poland increased 14.0% on a constant currency basis.
Today announcing an investment of c. €25m in additional distillation capacity in Poland, to be completed in three years' time.
Czech Republic: consolidated their market leadership position, taking share in both volume and value. Underlying revenue increased 10.0% on a constant currency basis.
Completion of two acquisitions: Distillerie Franciacorta, a leading grappa, spirits and wine business in Italy; and Bartida, a high-end on-trade spirits business in the Czech Republic.
Profit up 107.8%% to €28.3m (2018 proforma: €13.6m, 2018 9 month reported: €19.3m); basic EPS up 107.9% to 14.26 €cents per share (2018 proforma: 6.86 €cents per share, 2018 9 month reported: 9.71 €cents per share); adjusted basic EPS up 17.7% to 19.68 €cents per share, (2018 proforma: 16.72 €cents per share, 2018 9 month reported: 9.71 €cents per share)
Net debt of €42.3 million at 30 September 2019 (September 2018: €31.6 million), resulting in leverage of 0.7x (2018 proforma: 0.5x), after net payments of €31.8m for the two acquisitions.