The Morgan Advanced Materials PLC Board is recommending a final dividend, subject to shareholder approval, of 5.9 pence per share on the Ordinary share capital of the Group, payable on 20 May 2022 to Ordinary shareholders on the register at the close of business on 29 April 2022. The ex-dividend date is 28 April 2022.
Other financial highlights include:
• Organic constant-currency revenue growth of 10.3% with 22% from their faster growing markets (excluding one-off solar projects)* and 7% from their core markets.
• Adjusted operating profit margin was 13.1%, up by 300 bps, the highest in more than 20 years.
• Pricing and continuous improvement efficiency actions continue to more than offset cost inflation.
• Return on invested capital of 20.5%, up 750 bps on the previous year.
• Adjusted earnings per share of 27.2p, up 43% on the previous year.
• Strong cash flow, with cash generated from continuing operations of £135.9 million and free cash flow of £66.2m driving a further reduction in leverage, with net debt / EBITDA (excluding leasing) of 0.3 times.
• Absolute CO2e emissions (from scope 1 and 2) reduced by 17% compared with the previous year.