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