Mitchell Services Limited 1H24 Results and Dividend Announcement

Mitchell Services Limited (ASX: MSV) announced its first half of FY24 results, including an interim dividend of 2.0c per share.

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Mitchell Services Limited 1H24 Results and Dividend Announcement

  1. Mitchell Services Limited (ASX: MSV) announced its first half of FY24 results, including an interim dividend of 2.0c per share.

  2. Revenue for 1H24 was $121.6 million, a 1.2% increase from 1H23.

  3. EBITDA for 1H24 was $20.0 million, up 20.5% from 1H23.

  4. EBIT for 1H24 saw a significant increase to $7.0 million, up 367% from 1H23.

  5. EBT for 1H24 was $6.2 million, compared to $0.3 million in 1H23.

  6. Profit after tax for 1H24 was $4.3 million, a substantial increase from $0.2 million in 1H23.

  7. Operating cash flows improved by 121.8% to $24.4 million in 1H24 from 1H23.

  8. Net debt was reduced by 49% to $9.1 million as of 31 December 2023.

  9. The interim dividend is unfranked and will be paid on 18 March 2024 to shareholders registered by 29 February 2024.

  10. The company's executive chairman highlighted the successful start to FY24, the significant reduction in net debt, and the ability to declare an interim dividend due to strong 1H24 cash flows.

This announcement is a summary of the company approved ASX announcement on 22/2/2024 and is based on facts.