Portmeirion Group PLC final dividend proposed of 2.00p per share

DividendMax Ltd.

Portmeirion Group PLC final dividend proposed of 2.00p per share

Portmeirion Group PLC announced that given the ongoing macro-economic uncertainty and the continued prioritization of further reduction to net debt, the firm recommended a final dividend of 2.00p (2022: 12.00p). Total dividends paid and proposed for the year would therefore be 5.50p per share (2022: 15.50p). The final dividend is expected to be paid on 31 May 2024 to shareholders on the register on 26 April 2024, with an ex-dividend date of 25 April 2024.

Other financial highlights include:

Group revenue of £102.7 million in the year to 31 December 2023 (2022: £110.8 million), in line with market expectations and a resilient performance against tough trading conditions in the US and South Korea.

Headline EBITDA of £9.2 million (2022: £13.2 million) and headline operating margin of 4.7% (2022: 7.8%) reflecting reduced revenue and operational gearing.

Headline profit before tax of £3.0 million (2022: £8.0 million) in line with market expectations.

Good Christmas trading period with robust demand across their portfolio of consumer goods brands.

Return to sales growth in Wax Lyrical division and further 16% growth in ROW sales markets, in line with their diversification strategy.

Much improved free cash free cash flow generation of £4.4 million (2022: free cash outflow of £8.7 million).

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