New goals for the next five years to 2023
New goals for the next five years to 2023: - Increase of return on net operating assets to 35% - Maintaining operating profit margins at c.21-22%
- Operating cash conversion of between 70 and 100% of operating profit into operating cash flow - Increased landbank efficiency - reducing length of short term owned and controlled landbank
years by c.1 year to 4-4.5 years Enhanced dividend announced
- Enhanced ordinary dividend driven by current performance and increased confidence in our ability to deliver future growth: increasing to approximately 7.5% of Group net assets up from 5%, and equating to at least £250 million per annum (subject to shareholder approval each year), up from at least £150 million per annum - 2019 special dividend announced of £350 million (subject to shareholder approval), taking 2019 total dividends to c.£600 million (an increase of 20%). Based on our current five-year expectations, and in current market conditions, we expect special dividend payments to remain comparable to the 2018 and 2019 payments
Commercial Director
Made with FlippingBook - professional solution for displaying marketing and sales documents online