Eurocell plc announce an interim dividend of 3.5 pence per share

DividendMax Ltd.

Eurocell plc announce an interim dividend of 3.5 pence per share

On 31 August 2022, the Eurocell Plc Board approved an interim dividend for the six months ended 30 June 2022 of 3.5 pence per share (£3.9 million), representing an increase of 9% compared to H1 2021. The interim dividend will be paid on 7 October 2022 to shareholders on the register at the close of business at 16 September 2022 and shares will be marked ex-dividend on 15 September 2022.

Other financial highlights include:

•Good first half against strong 2021 comparatives

-Substantial progress in sales and profits vs pre-pandemic period

•Continued successful deployment of commercial strategies, with sales up 13% vs H1 2021, including:

-Profiles up 17%: a good performance in new build, where competitor fabricator weakness has supported their sales, as well as another strong performance from Vista doors

-Building Plastics up 11%: good demand for high value project work and their outdoor living product range

-Price remains a key driver of sales growth

•Selling price increases and surcharges successfully recovering unprecedented input cost inflation

•Operating profit up 8% vs H1 2021, driven by higher sales and improving operational efficiency

-Operating profit margin of 8.7% (full year 2021: 8.5%)

•Profit before tax up 7% vs H1 2021, including impact of successful bank refinancing on finance costs

•Continued investment in business growth, with capex of £6.4 million including expansion of manufacturing capacity and development of IT infrastructure

•Strong balance sheet and liquidity, with pre-IFRS 16 net debt of £15.0 million (31 December 2021: £11.0 million)

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