ME Group International Plc (MEGP.L), a vending machine operator, reported Monday that its fiscal 2024 profit increased from last year with strong revenue growth. The company also lifted its annual dividend.
Looking ahead, for fiscal 2025, the company projects profit before tax to be between 76 million pounds and 80 million pounds, higher than last year.
The Board said it remains confident in the Group's growth strategy and strong financial position, which provide a platform for future growth opportunities.
In fiscal 2024, profit before tax grew 9.4 percent to 73.4 million pounds from last year's 67.1 million pounds. Earnings per share increased to 14.27 pence from 13.31 pence a year ago.
Group EBITDA increased 7.1 percent to 114.2 million pounds from last year's 106.6 million pounds. Group EBITDA margins expanded to 37.1 percent from 35.8 percent a year ago, which reflected the continued expansion of Revolution laundry machines and margin improvements
Group revenue increased 3.4 percent to 307.9 million pounds from prior year's 297.7 million pounds, largely driven by the expansion of laundry services. Revenue was up 6.8 percent excluding FX impact.
Further, the Board has recommended a final dividend for 2024 of 4.45 pence per Ordinary share, bringing the total dividend for the year to 7.90 pence per share, an increase of 6.8 percent from last year.
Subject to approval at the Company's annual general meeting on April 25, the Final dividend will be paid on May 23 to shareholders on the register at close of business on April 25.
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