The Clipper Logistics Board is recommending a final dividend of 7.1 pence per share, making a total dividend in respect of the year ended 30 April 2021 of 11.1 pence (2020: 9.7 pence) in line with their progressive dividend policy.
The proposed final dividend, if approved by shareholders, will be paid on 15 October 2021 to shareholders on the register at the close of business on 17 September 2021.
Other financial highlights include:
Group revenue increased by 39.1% from £500.7m to £696.2m.
Underlying EBIT up 52.4% to £31.4m (2020: £20.6m). Reported EBIT (IFRS 16) up 22.5% to £39.8m (2020: £32.5m).
Group profit after tax of £21.7m (2020: £16.2m) up 33.8%; on an underlying basis profit after tax is up 61.9% compared to £13.4m in FY20.
Basic earnings per share were 21.3 pence (2020: 15.9 pence), an increase of 34.0%; on an underlying basis Basic EPS is up 62.6% compared to 13.1p in FY20.
Cash generated from operations of £86.9m (2020: £60.4m) up 44.0%.
Net debt of £16.9m at 30 April 2021 (2020: £45.1m) had reduced to 0.4x EBITDA (2020: 1.3x EBITDA).