Kitwave Group Plc has declared an interim dividend of 2.50 pence per share for the financial year ending 31 October 2022. This dividend will be paid on 5 August 2022 to shareholders on the register at the close of business on 15 July 2022 and the ex-dividend date will be 14 July 2022.
Other Financial Highlights:
Trading returned to pre-pandemic levels with particularly strong demand in the latter part of the period, with revenue up 51.8% to £223.3 million (H1 2021: £147.1 million).
Consolidated gross margin improved to 19.8% (H1 2021: 17.9%; FY 2021: 18.0%).
Strong recovery in profit after tax at £4.4 million (H1 2021: loss after tax £3.4 million).
Strong cash generation from operating activities of £17.1 million (H1 2021: £9.8 million; FY 2021: £7.9 million) leading to pre-tax operational cash conversions of 166% (H1 2021: 174%; FY 2021: 85%).
Trading since the period end has been significantly ahead of expectations, leading the Board to revise its financial expectations upwards for the full year ended 31 October 2022.
Acquired M.J. Baker Foodservice Limited ("M.J. Baker"), the South West's leading independent foodservice supplier.
