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Nex Group lowers final dividend as fiscal 2018 profit falls

Nex Group PLC's board of directors recommended a final dividend of 7.65 pence per share for the financial year ended March 31, compared to 27.0 pence per share a year earlier.

The recommendation resulted in a full-year dividend of 11.15 pence per share, including an interim dividend of 3.5 pence per share, down from 38.5 pence per share for the previous fiscal year. Subject to approval, the final dividend will be paid July 27 to shareholders on the register July 6.

Nex Group reported total profit attributable to owners of the company of £112 million in the year to March 31. The company reported a restated profit of £1.31 billion in the previous year, mainly due to a £1.21 billion income from discontinued operations that included the former Icap PLC's global hybrid voice broking and information business.

That business was sold to Tullett Prebon PLC, now known as TP Icap PLC.