Volution Group Plc

Latest Results (14.08.2024):

Revenue Growth

Volution Group Plc reported a revenue increase of 6.3% for the six months ended 31 January 2024, reaching £172.5 million compared to £162.3 million in the same period of the previous year. This growth was driven by a combination of organic growth at 0.9%, inorganic growth at 7.8%, and a negative impact from foreign exchange of -2.4%.

Operating Profit

The adjusted operating profit for Volution Group Plc rose by 12.9% to £38.6 million in the first half of 2024, up from £34.2 million in the same period of 2023. This increase was attributed to strong pricing discipline and operational excellence initiatives, which also expanded the adjusted operating margin to 22.4% from 21.1% in the previous year.

Cash Flow

Volution Group Plc's adjusted operating cash flow saw a significant increase of 26.9%, reaching £38.8 million for the six months ended 31 January 2024, compared to £30.6 million in the same period of the previous year. The cash conversion rate also improved to 98% from 88% in the prior year, indicating strong cash generation capabilities.

Profit Before Tax

The statutory profit before tax for Volution Group Plc increased by 28.4% to £29.0 million in the first half of 2024, up from £22.6 million in the same period of 2023. This substantial growth reflects the company's effective cost management and operational efficiencies.

Dividend Increase

Volution Group Plc announced an interim dividend of 2.8 pence per share for the six months ended 31 January 2024, representing a 12.0% increase from the 2.5 pence per share declared in the same period of the previous year. This increase demonstrates the Board's confidence in the Group's future prospects and financial health.