An interim dividend of 1.4p per share will be paid on 6 July 2023 by Smiths News to shareholders on the register on 9 June 2023; the ex-dividend date will be 8 June 2023. "This distribution is in line with last year and consistent with the Company's intention, subject to performance, of paying total annual dividends of £10.0m p.a., the maximum payable under the terms of our banking facilities which mature in August 2025."
Other financial highlights include:
Revenues up 1.0% driven by price increases and sporting & news events
Adjusted operating profit of £20.4m up 6.8%
Inflationary impacts and operational efficiencies in line with planning assumptions
Major contract renewals - 65% of total newspaper and magazine revenues now secured through to at least 2029
Further progress of ancillary revenues and organic business development
Good performance driving Adjusted EPS of 5.6p up 9.8%
Bank Net Debt of £22.9m is down 41.0% and Average Net Debt of £26.3m is down 55.3%
On-track to meet market expectations for the full year
