Following the cancellation of the 2019 final and 2020 interim dividends, Centaur's resilience has given the Board confidence to propose a final dividend of 0.5p per share for the 2020 financial year. The Board is also recommending a resumption of their normal dividend policy which aims to distribute 40% of adjusted earnings after taxation, subject to a minimum of 1p per share, and will also consider resuming further returns of capital to shareholders once the longer-term impact of Covid on the Group's cash flows becomes clearer.
Other financial highlights include:
Revenues down 18% to £32.4m due to significant impact of Covid but grew internationally
Adjusted EBITDA only decreased by £0.2m, benefiting from 24% reduction in operating costs
Adjusted EBITDA margin grew from 10% to 12%, ahead of the Board's target
MAP strategy updated targeting 23% Adjusted EBITDA margin and increasing revenues to more than £45m by 2023 (MAP23)
Net cash of £8.3m at year end
Non-cash goodwill impairment of £11.0m in the year relating to the closure of MarketMakers