The Wincanton PLC Board is declaring an interim dividend of 4.00p per Ordinary Share (2020: 2.85p per share) in line with its established policy of increasing the dividend broadly in line with underlying earnings movements. The Group's policy is for the interim dividend to be approximately one third of the expected full year dividends.
Other financial highlights include:
Revenue growth of 28.6% in H1, excluding businesses disposed of during FY 20/21
Underlying profit before tax of £27.3m up 42.9% from prior year, back ahead of pre-pandemic profit levels (H1 19/20: £26.2m)
Driver cost headwinds mitigated by business model; less than 20% of Group revenue is closed book transport of which price increases or exits have been agreed on c.90%
Free cash flow generation of £17.9m in H1, prior year cash position benefitted from significant temporary Covid-19 deferred payments, acquisition funded through cash reserves