The Alumasc Board is recommending to shareholders a final dividend of 2 pence per share (2018/19: 4.4 pence), applicable to members on the share register on 25 September and to be paid on 30 October. The interim dividend for 2019/20, that was due to be paid on 7 April 2020 at a cash cost of £1.1 million, was cancelled as part of the Group's COVID-19 cash conservation programme, making a total dividend for the year of 2 pence per share (2018/19: 7.35p).
Other financial highlights include:
Group revenues £76.0m (2018/19: £90.1m) reflecting the impact of COVID-19 on the final quarter
Underlying PBT £3.7m (2018/19: £5.6m), also reflecting the impact of COVID-19
Group's underlying operating margins reduced from 6.5% to 5.5% representing a creditable result against such a sharp decline in revenue
Underlying earnings per share 8.2p (2018/19:12.4p)
Focus on cash management has resulted in a lower level of net bank debt of £4.3 million (30 June 2019: £5.1 million).
