In line with Medica Group Plc's progressive dividend policy outlined at the Capital Markets Day last year, their directors are proposing a final dividend for 2021 of 1.79 pence per share. The final dividend will be paid on 22 July 2022 to shareholders on the register on 24 June 2022 subject to approval by shareholders at the 2022 Annual General Meeting (AGM). The total dividends for 2021 2.68 pence per share represent an increase of 5% over 2020.
Other financial highlights include:
Sales of £61.9m, representing 68% and 33% revenue increase on 2020 and 2019, respectively
o UK revenues rose 33% to £47.1m as a result of a continued strong performance from NightHawk and a full recovery in Elective scanning activity by the year end
o Medica Ireland contributed £9.7m in its first full year since acquisition in November 2020, in-line with expectations, and generated a return on capital employed (ROCE) in its first full year ahead of the Group target of 15%
o RadMD contributed £5.2m of revenues for the nine-month period since acquisition in March 2021, broadly in-line with expectations at the time of purchase
Increase in gross profit margin to 50.7% (2020: 47.4%) due to mix effect in UK, cost management and positive impact of acquisitions
Recovery in underlying operating profit to £12.1m, up 141% from 2020 and 6.9% versus 2019, with underlying operating margins recovering to 19.5% (2020: 13.6%)
Net cash at 31 December 2021 of £3.9m, an improvement of £7.8m on net debt of £3.9m at 31 December 2020
