Headlam PLC announce a final dividend of 2pence per share

DividendMax Ltd.

Headlam PLC announce a final dividend of 2pence per share

Headlam PLC will be paying a nominal ordinary dividend of 2 pence per share in May 2021. Details of the payment, alongside the payment timetable for future dividends, are given in the Financial Review.

Other financial highlights include:

Total revenue only 15.3% below 2019 at £609.2 million (2019: £719.2 million), a strong recovery from the 30.6% below in the first-half

Underlying profit before tax of £15.9 million (2019: £39.5 million), representing a strong reversal of the first-half underlying loss before tax of £1.2 million

Statutory loss before tax of £17.1 million (2019: £35.2 million profit), reflecting a significant level of non-underlying items, the vast majority having arisen as a direct consequence of COVID-19 and being non-cash in nature

Highly cash generative during the year despite the initial impact of COVID-19, with an increase in cash of £27.0 million (2019: £10.2 million decrease) and in part reflects the actions taken to preserve Balance Sheet strength

Average net debt for the year of £8.6 million (2019: £3.3 million), a material reduction on the first-half average net debt of £35.3 million

Net funds position (excluding lease liabilities) of £51.6 million as at 31 December 2020 (2019: £27.0 million), which included the benefit of £12.0 million of deferred VAT payable by 31 March 2021

Net funds as at 31 December 2020 after the impact of IFRS 16 'Leases' of £8.3 million (2019: £17.6 million net debt)

Companies mentioned