iEnergizer reaffirms dividend policy as FY EBITDA tops expectations

9th Jun 2020 08:07

(Sharecast News) - Technology services provider iEnergizer said on Tuesday that it had continued to perform strongly in the second half of the year ended 31 March.
iEnergizer said its "continued focus" on higher-margin work had enhanced the profitability of the group and as a result of this, now anticipates that revenues will be in line with market expectations and expects adjusted underlying earnings to be ahead of market expectations.

Due to the AIM-listed group's "strong balance sheet" and the cash generative nature of its business, iEnergizer also reaffirmed its commitment to a progressive dividend policy.

Chairman Marc Vassanelli said: "We are pleased to report that the company expects adjusted EBITDA to be ahead of market expectations due to significant progress made by colleagues across the company to focus on the high margin revenue streams.

"Since our last trade update in May 2020, the group has continued to operate at 80% - 90% efficiency and a further update will be provided in the full-year results."

As of 1335 BST, iEnergizer shares were up 5.39% at 215p.