Volution Group Plc (FAN.L), a maker of ventilation products, reported Thursday that its fiscal 2024 profit before tax grew 16 percent to 56.6 million pounds from last year's 48.8 million pounds.
Basic earnings per share were 21.6 pence, up 13.7 percent from prior year's 19.0 pence.
Adjusted profit before tax was 70.7 million pounds, compared to 65.1 million pounds a year ago. Adjusted basic earnings per share were 28.0 pence, compared to 25.8 pence last year.
Revenue for the period grew 6 percent to 347.6 million pounds from last year's 328.0 million pounds. Organic revenue growth at constant currency was 1.5 percent.
Further, the Board is recommending a final dividend of 6.2 pence, which gives a total dividend per share of 9.0 pence, up 12.5 percent in total from the prior year. The final dividend is subject to approval by shareholders at the Annual General Meeting on December 11, and, if approved, will be paid on December 17.
Looking ahead, Ronnie George, Chief Executive Officer, said, "The new financial year has started as anticipated, with both revenue and adjusted operating profit ahead of the same period last year. .. we have announced an agreement to acquire Fantech's ventilation activities in Australia and New Zealand, which would represent our largest acquisition to date by some considerable distance. This, along with the momentum we have across many parts of the business, provides the Board with confidence of another year of good progress across the Group."
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