The Smith (DS) Board declares an interim dividend for this half year of 4.0 pence per share. The dividend will be paid on 4 May 2021 to ordinary shareholders on the register at the close of business on 9 April 2021.
Other financial highlights include:
Resilient volume performance despite challenging environment
Progressive improvement in volumes throughout H1
o October +3%, overall H1 -1.0%
o Good start to H2, November >+5%
Revenue and profitability adversely impacted by effects of Covid-19 particularly in Q1
Progressive US momentum with good Indiana plant progress
Significant return on sales progression in period: H1 8.0%, Q2 9.5%
Strong cash flow: FCF +16% reflecting prudent management of cash
Robust financial position and long-term liquidity
