The GB Group Board will propose a final dividend of 3.81 pence per share to shareholders at the AGM in July. If approved, it will represent the fourteenth consecutive year of dividend growth.
Other financial highlights include:
Revenue increased 11.4% to £242.5 million, which represented growth on an organic constant currency basis of 10.6%.
o Underlying growth was 15.5%, excluding the substantial one-off benefit related to the US stimulus in the prior year.
Growth across all segments underpinned by subscription and consumption revenue of £227.5 million (94% of total). Combined with growth in the deferred revenue balance and strong customer retention, this provides good forward revenue visibility.
Adjusted operating profits up 1.6% to £58.8 million with an adjusted operating margin of 24.3% (2021: 26.6%), reflecting investment in the business and the unwinding of prior year cost-saving measures taken during the Covid-19 pandemic.
Strong cash generation enabled repayment of £30.1 million ($40.2 million) of the £157 million ($210 million) of debt drawn to finance the Acuant acquisition. Year-end net debt of £(107.0) million expected to reduce further during FY23.