Victorian Plumbing Group Plc announce an interim dividend of 0.45p per share declared

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Victorian Plumbing Group Plc announce an interim dividend of 0.45p per share declared

The Victorian Plumbing Group Plc Board has declared an interim dividend of 0.45 pence per share (H1 2022: nil) which is a total cash distribution to shareholders of £1.5m. The dividend will be paid on 7 July 2023 to shareholders on the register of members at the close of business on 9 June 2023.

Other financial highlights include:

●Strong H1 revenue, up 10% year-on-year to £146.8m (H1 2022: £133.9m)

Improved gross profit up 14% year-on-year to £66.8m; gross profit margin increased 2ppts to 46% (H1 2022: 44%)

●Adjusted EBITDA increased by 48% year-on-year to £9.9m (H1 2022: £6.7m); adjusted EBITDA margin increased 2ppts to 7% (H1 2022: 5%)

●Net cash £40.9m (H1 2022: £33.7m, FY 2022: £45.5m), reflecting strong cash conversion and the payment of £9.1m of dividends in H1 2023 (H1 2022: £nil)

●Adjusted diluted EPS of 1.9 pence per share (H1 2022: 1.2 pence per share), reflecting a 58% increase

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