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Tuesday , 23 February 2021 ASX AND MEDIA RELEASE SERVCORP REPORTS FIRST HALF 2021 PERFORMANCE UNDERLYING FREE CASH $ 29.4 MILLION NET PROFIT AFTER TAX OF $ 15.4 MILLION Servcorp Limited ABN 97 089 222 506 ( SRV ) today released its half year results for the six months ended 31 December 2020 . Underlying free cash² of $ 29.4 million Revenue and other income of $ 142.0 million , down 20 % on the first half of FY2020 ( constant currency , down 18 % ) Like for like revenue down 14 % ( constant currency , down 11 % ) Underlying net profit before tax³ of $ 19.0 million Underlying net profit after tax4 of $ 16.1 million Net non - cash impairment of assets of $ 1.1 million Strong balance sheet , with 31 December 2020 cash balances of $ 90.1 million , no external net debt Interim dividend of 9.0 cents per share , 0 % franked 5 Business overview Servcorp reported first half FY2021 revenue and other income of $ 142.0 million , down 20 % on the first half of FY2020 and 18 % on a constant currency basis . Underlying net profit before tax of $ 19.0 million was underpinned by solid performances in Europe and the Middle East , and North Asia , combined with reduced losses in the United States , offset by a poor performing Australia , New Zealand and South East Asia . The first half FY2021 result highlighted Servcorp's strong cash flow generation from operations . Underlying free cash represented 155 % of underlying net profit before tax , providing some buffer to navigate through the COVID- 19 pandemic , supporting maintenance capital expenditure and dividends . At 31 December 2020 , Servcorp had cash balances of $ 90.1 million , a decrease of $ 11.3 million from 30 June 2020. This largely reflected the strengthening Australian dollar , which had a $ 7.8 million downward revaluation effect in the period . 1 " Underlying " is a non - statutory measure and is the primary reporting measure used by the CEO , CFO , COO & Board of Directors for assessing the performance of our business 2 Net operating cash flows before tax , plus cash rent paid to landlords in the current period relating to FY2020 , minus unpaid cash rent relating to the current period , plus adjustments for significant items which relate to the reported period however , because of timing , either occurred in the preceding financial period or will occur in the subsequent financial period 3 Underlying net profit before tax ( NPBT ) excludes $ 1.1m of net non - cash impairment of assets ( 1H20 $ 2.1m of restricted earnings and provisions ) 4 Underlying net profit after tax ( NPAT ) excludes $ 0.7m of net non - cash impairment of assets ( 1H20 $ 2.1m of restricted earnings and provisions ) 5 Payable on 7 April 2021. There is 100 % conduit foreign income attributed to the dividend Level 63 , MLC Centre , 19-29 Martin Place , Sydney NSW 2000 , Australia T +61 2 9231 7500 F +61 2 9231 7660 Servcorp Limited ABN : 97 089 222 506 servcorp.com.au SERVCORP Australia Bahrain Belgium China France Germany Hong Kong India Japan Kuwait Lebanon Malaysia New Zealand Philippines Qatar Saudi Arabia Singapore Thailand Turkey UAE UK USA GLP : km : c : \ announcements \ half year \ 2020 : Half Year Results Announcement - Dec 2020-23 Feb 2021 : 23/02/2021