Debenhams maintains its 2014 full year dividend at 3.4p

DividendMax Ltd.

Debenhams maintains its 2014 full year dividend at 3.4p

Financial headlines

Gross transaction value up 1.7% to £2,823.9m

Group like-for-like sales up 1.0%

Group gross margin down 60bps: H1 down 100bps, H2 up 10bps

Operating profit down 17.2%: H1 down 22.9%, H2 up 2.9%

Profit before tax in line with market expectations

o Underlying profit before tax* down 20.6% at £110.3m

o Reported profit before tax down 23.9% at £105.8m

Underlying EPS* down 19.6% to 7.4p, reported EPS down 22.8% to 7.1p

Final dividend of 2.4p per share; full year dividend of 3.4p per share maintained

Net debt improved by £10.5m to £361.5m

Borrowing facilities refinanced including issue of £225.0m 5.25% seven year senior notes

Companies mentioned