IVE reveals 3.2% revenue drop, but EBITDA grows and dividend reinstated

IVE Group Limited has revealed that the first half of FY21 saw a slight decrease in revenue, down 3.2% to $340.8 million compared to the same period the year prior.

However, underlying EBITDA of continuing operations (including JobKeeper) was $59.2 million, an 18.5% increase year on year, while underlying Net Profit After Tax (NPAT) for continuing operations (including JobKeeper) also rose, up 29.7% to $23 million.

Net debt was reduced to $90.1 million, a further reduction of $47 million since 30 June 2020, while IVE also reinstated an interim dividend, listed at $0.07 per share, fully franked.