The Euromoney Institutional Investors Board has proposed a final dividend of 12.5p per share which results in a full year dividend of 18.2p (FY 2020: 11.4p) reflecting the strong balance sheet, cash generative nature of the business and confidence in the future. Their dividend policy is to pay out approximately 40% of full year adjusted diluted earnings per share, subject to the capital needs of the business.
Other financial highlights include:
Group revenue increased slightly reflecting:
o Strong underlying subscriptions growth in Fastmarkets (+13%) and in Financial & Professional Services ("FPS") (+5%)
o Covid-19 impact on physical events but a strong recovery of event revenue in H2 2021
Adjusted PBT increased 13% reflecting good cost control while continuing to invest for future growth
Strong cash generation and balance sheet with net cash of £32.5m at 30 September 2021