Domestic & General, the extended warranty supplier, announced solid results for last year and said it was hiking its cash return.
The group delivered a 19.5% rise in pre-tax profit to £35.0m for the year to March from £29.3m a year earlier, while revenues rose 14.5% to £277.0m. UK Warranty revenue rose 11% to £240.7m.
Referring to the recent slowdown in consumer demand, Domestic said “Our business model, which seeks new business from several years of customers’ appliance purchase data, coupled with our strong renewal book, helps insulate against any short term lack of consumer demand for appliances.”
“This provides solid bedrock on which we have built well over the past few years to produce a good return to our trade partners and another year of strong results for the group,” added Domestic & General.
The group has proposed a final dividend of 22.75p per share, taking its total dividend for the year up 20.3% to 32.50p per share.
From ShareCast
