Elixirr ends year in line with market forecasts

(Sharecast News) - Challenger consultancy Elixirr International said in a trading update on Monday that it anticipated its results for 2023 to align with market expectations, with revenue within the projected range of £85m to £90m.

The AIM-traded company said it expected adjusted EBITDA to be around £25.4m, while it anticipated having year-end cash reserves of roughly £17.9m, subject to audit.

In response to market dynamics and in line with practices observed among comparable companies, the board said it had decided to implement a revised dividend policy.

The policy would involve two dividend payments per year, with the first, an interim dividend, to be paid shortly after the end of the financial year, and the second, final dividend to be paid in August.

As part of this new dividend policy, Elixirr declared an interim dividend of 5.3p per share.

The interim dividend would be disbursed to shareholders on the register on 19 January, with an ex-dividend date of 18 January.

It said the total interim dividend payout was expected to come in at £2.5m, using the company's existing cash reserves.

Shareholders could expect to receive the dividend on 15 February.

At 1005 GMT, shares in Elixirr International were down 5.55% at 585.6p.

Reporting by Josh White for Sharecast.com.