Throughout the pandemic, S&U has not furloughed staff nor taken any Government support. Therefore, they have decided this year that a combination of confidence in the post Covid recovery, S&U's financial strength and the prospects for their businesses justifies a final dividend of 43p per share (2020: 50p). Subject, as always, to the approval of shareholders at our AGM on the 20th May 2021, this final dividend will be paid on 9th July 2021 to those on the register on the 18th June 2021.
Other financial highlights include:
Robust and resilient response to Covid pandemic
Profit before tax ("PBT"): £18.1m (2020: £35.1m)- reduction primarily due to additional Covid related provisions on motor finance - H2 profit of £11.8m (H1: £6.3m)
Amounts receivable from customers reduced by 7% to £280.9m (2020: £301.8m)
Revenue reduced by 7% at £83.8m (2020: £89.9m)
Basic earnings per share: 120.7p (2020: 239.6p) - H2 eps 78.8p (H1: 41.9p)Final dividend of 43p per ordinary share to be paid on 9 July 2021 (2020: 50p)
Net Borrowings at £98.8m (2020: £117.8m) - gearing at 54.6% (2020: 65.7%)