Genuit Group intends to pay an interim dividend of 4.2 pence per share (2024: 4.1 pence per share). The Group aims to pay a progressive dividend, based on dividend cover of 2.0x or greater over the business cycle. This dividend will be paid on 1 October 2025 to shareholders on the register at the close of business on 29 August 2025.
Other financial highlights include:
Half year revenue of £297.8m (H1 2024: £272.4m) increased by 9.3% year-on-year on a reported basis and 6.1% on a like-for-like basis, driven by adoption of new solutions and targeted market share gains.
Reported operating profit of £37.5m (H1 2024: £21.3m) increased 76.1% year-on-year, due to higher gross profit and lower exceptional items than the prior year.
Underlying operating profit of £44.6m, an improvement year-on-year of 2.3%, despite the increased costs associated with the National Insurance and National Minimum Wage increases.
Like-for-like underlying operating profit margin of 15.5% (H1 2024: 16.0%) reduced by 50bps (100bps on a reported basis), reflecting the expected impact of the prevailing cost and pricing environment.
Underlying operating cash generation of £38.7m (H1 2024: £54.9m), representing 65.1% cash conversion (H1 2024: 99.5%), in-line with management expectations and reflects a normal phasing. Full year operating cash conversion is expected to be in the region of 90%, in-line with our medium-term target.
Leverage reduced from 1.1 times at 30 June 2024 to 1.0 times pro-forma EBITDA at 30 June 2025, providing strategic optionality for disciplined bolt-on M&A opportunities.
