Coats Group Plc has declared an interim dividend of 0.70 cents per share

DividendMax Ltd.

Coats Group Plc has declared an interim dividend of 0.70 cents per share

Coats Group Plc has declared an interim dividend of 0.70 cents per share, up 15% vs the 2021 interim dividend (0.61c). The interim dividend will be paid on 16 November 2022 to ordinary shareholders on the register at 21 October 2022, with an ex-dividend date of 20 October 2022. The proposed full year dividend will be announced in March 2023 alongside the Full Year 2022 results.

Other Financial Highlights: 

  • Group sales growth of 19% on a CER basis (14% on a reported basis); favourable underlying market conditions in H1 alongside early pricing actions, continued supply chain agility and self-help programmes, delivered a strong performance despite high inflation;
  • Apparel & Footwear: 21% sales growth (CER); all key regions performed strongly despite some ongoing Covid impacts as leverage on the global footprint effectively
  • Performance Materials: 16% sales growth (CER); double digit growth in Personal Protection and Composites; encouraging improvement in US Yarns business
  • Pricing actions across both Apparel & Footwear and Performance Materials coupled with self-help programmes to offset inflationary pressures
  • Adjusted operating profit $125 million; adjusted margins up 180bps to 15.6% and well above 2019 levels:
  • A&F adjusted operating margins 18.2% reflecting strong volumes and excellent customer service
  • PM adjusted operating margins 8.2% showing continual improvement driven by US strategic projects and operational improvements
  • Adjusted EPS of 4.3c per share (reported 3.4c per share), up 30% vs 2021
  • Net debt (excl. lease liabilities) of $195 million; 0.8x leverage3 supported by robust free cash flow generation

 

Companies mentioned