2024 Interim Summary
- Underlying profit before taxation* of £51.5m (2023: £53.1m)
- Underlying earnings per share* of 129.1p (2023: 133.5p)
- Both spot and forward business transacted in H1 ahead of the same period last year in the Broking division
- Robust balance sheet, with £178.4m of free cash resources* (31 December 2023: £175.4m)
* Classed as an Alternative Performance Measure ('APM').
- Interim dividend of 32p per share (2023: 30p per share) – 22nd consecutive year of dividend increases
- As previously announced, second half weighting expected given invoicing profile of the forward order book (‘FOB’)
- Board’s expectations for the year unchanged with continued confidence in the outlook
Interim results summary
To 30th June 2024
6 months ended 30 June 2024 |
6 months ended 30 June 2023 |
|
| Revenue | £310.1m | £321.1m |
| Underlying profit before taxation* | £51.5m | £53.1m |
| Reported profit before taxation | £50.1m | £52.2m |
| Underlying basic earnings per share* | 129.1p | 133.5p |
| Reported basic earnings per share | 124.6p | 130.5p |
| Interim dividend per share | 32p | 30p |
* Classed as an Alternative Performance Measure ('APM').
2023 Performance Summary
- Record underlying profit before taxation* of £109.2 (2022: £100.9m), an increase of 8.2%
- Underlying earnings per share* increased by 9.9% to 257.0p (2022: 250.3p)
- Full year dividend of 102p, giving rise to a 21st consecutive year of dividend growth
* Classed as an Alternative Performance Measure ('APM').
- Forward order book for invoicing in 2024 was US$217m (2022: US$216m)
- Strong balance sheet with free cash resources* of £175.4m (2022: £130.9m) available for future investment
Results summary
To 31st December 2023
12 months ended 31 Dec 2023 |
12 months ended 31 Dec 2022 |
|
| Revenue | £639.4m | £603.8m |
| Underlying profit before taxation* | £109.2m | £100.9m |
| Reported profit before taxation | £108.8m | £100.1m |
| Underlying basic earnings per share* | 275.0p | 250.3p |
| Reported basic earnings per share | 275.2p | 247.9p |
| Interim dividend per share | 102p | 93p |
* Classed as an Alternative Performance Measure ('APM').