The Inspired Plc Board is to announce an interim dividend of 0.13 pence (H1 2021: 0.12 pence). The dividend aligns with the Board's stated policy of a dividend cover of at least 3x earnings, with the objective of delivering progressive dividend growth over time.
The interim dividend will be paid on 8 December 2022 to all shareholders on the register at close of business on 14 October 2022. The shares will be marked ex-dividend on 13 October 2022.
Other financial highlights include:
H1 performance was in line with The Inspired Board expectations against an unprecedented backdrop in UK energy markets
The Group delivered revenue growth on prior year of 24% in H1, with 3% growth organically in Energy Assurance and 49% organic growth in Energy Optimisation
Adjusted EBITDA grew by £0.9m (10%) in H1, with Energy Assurance margins maintained; the mix of Energy Optimisation revenues resulted in Group EBITDA margin reducing to 24% (H1 2021: 27%)
The Group order book remained consistent with levels seen at the end of 2021 being £67.5m at 30 June 2022. The order book is measured in terms of total contract value which, when energy prices are high can be reduced by the timing and duration of renewals of Energy Assurance services
Underlying cash generation from operations of £5.8m represented a significant improvement over the prior year as operating cash generation moved back towards expected levels
The increase in net debt in the period reflects the expected payment of £10.2m of contingent consideration in H1. The Group also paid £0.6m in initial consideration for the small bolt-on acquisitions completed in the period
