The Group remains committed to a progressive dividend policy and as such, the Board is recommending a final dividend of 10.68 pence per share in respect of 2022 (2021: 10.47 pence per share) bringing the total ordinary dividend for the year to 16.31 pence per share (2021: 15.99 pence per share). If approved by shareholders at the AGM on 25 May 2023 the final dividend will be paid on 2 June 2023 to shareholders on the register on 21 April 2023.
Other Financial Highlights:
- Strong top line performance with revenue growth of 11% year-on-year, driven by 18% growth across the US, Europe and Rest of the World.
- Industry-wide inflationary pressures impacted the Group's gross margin, most notably in glass costs and trans-Atlantic freight costs, these were partially mitigated by positive pricing actions and improvements in sales mix.
- Adjusted EBITDA of £39.7m was marginally ahead of expectations.
- With continued strong cash generation, the Group maintained its strong balance sheet; paid a special dividend of £50m in May 2022 and finished the year with £95.3m net cash.
- Reiterating guidance from January; FY23 revenue £390m - £405m and EBITDA of £36m - £42m.