The Alumasc Group plc Board has decided to declare an unchanged interim dividend of 2.95 pence per share to be paid on 7 April to shareholders on the register on 6 March.
Other financial highlights include:
- Revenue was £41.1 million (2018: £44.3 million);
- Underlying operating margins were ahead by 70 basis points to 6.1% (2018: 5.4%) reflecting better year on year selling price realisation at Gatic in the Water Management division and fixed cost savings across the Group;
- Underlying profit before tax was £2.3 million (2018: £2.3 million).
Statutory profit before tax was £2.1 million (2018: £3.4 million) mainly due to the non-repeat of the prior year gain on the disposal of the Alumasc Facades business.
Underlying earnings per share were 5.1 pence (2018: 5.0 pence) and basic earnings per share 5.0 pence (2018: 8.4 pence).
Net debt at 31 December was £6.6 million (30 June 2019: 5.1 million)
The triennial pension deficit valuation at 31 March 2019 was significantly lower at £22.4m (2016: £33.0 million). Company deficit reduction funding has been reduced to £2.3 million pa from £3.2 million pa, effective 1 January 2020 as part of a 7-year recovery plan.