RE: Broker comment23 Nov 2023 14:56
In the period being reported the company has paid out £12M as a final dividend. Looks like there was some 'one off acquisition costs too. I dont see what bearing the equity has on the front end sales of the company, Clearly growth has slowed, but according to them they expect more in H2. Its a hold from me, though I managed to sell a few this morning in my trading account for less than 1% profit! (I have actually done well here recently, buying the dip twice and selling all the way up to £4).
"The Group's net cash position was £16.1m as at 30 September 2023 (31 March 2023: £59.2m), reflecting the normal H1 timing of payments, a further £18.6m of acquisition consideration payments, including £1.7m of employment-linked amounts, and the payment of the £12.0m FY 23 final dividend in the half. During the period, the Group also provided £3.8m funding to Alpha's EBT to purchase 1,033,954 shares at the prevailing market share price. These shares will be held in the EBT, a discretionary trust, and are intended to be used to satisfy future exercises of share options by employees, including the Directors of the Company. Alpha was drawn £10.1m on its RCF at 30 September 2023, to assist with managing currency requirements in the period. "
The Board is pleased to declare a maintained interim dividend for FY 24 of 3.70p per share (H1 23: 3.70p), which will be paid on 21 December 2023 to shareholders on the register at the close of business on 8 December 2023.