AA plc AA claims it is well positioned to return to growth from 2019 and that a revenue rise .of 2% reflects a solid performance especially in what it calls “roadside.”. The real reason for roadsides strength was exceptional weather conditions for which even the AA dare not claim credit, as it benefited from extreme cold and snow in February and March to the hottest summer in recent memory. The severe winter created a pothole ‘epidemic’ and led to a 15 year high in the number of breakdowns it serviced. Despite the support of the weather gods, profit before tax for the six month to the 31st July collapsed by 65% and basic earnings per share by 64%, a financial performance which the company claims was in line with expectations.Hopefully management will be able ensure that 2019 return to growth, actually happens, irrespective of the weather.
SSP Group SSPG updates that for the period from the 1st July to the 30th September like for like sales continuing at the same level as in quarter three. Full year like for like sales grwoth is expected to be unchanged at between 2% and 3%.
PZ Cussons PZC updates that Europe and Asia are continuing to perform well, whilst improvement in Africa will largely be dependent on the macro environment in Nigeria during the remainder of the year. The UK Washing and Bathing Division is enjoying good growth in its three main brands.
Futura Medical FUM has made excellent progress in the six months to the 30th June, at least according the CEO, as last years first half net loss of £1.6 grew to 1.95m. The first patient dosing of MED2002 the company’s breakthrough erectyle disfunction gel, is expected next month in the first Phase 3 trial in Europe. The company is excited about this No comment is made about the patient’s state of mind. aa
Boohoo Group plc BOO produced another strong performance in the six months to the 31st August and delivered record sales and profits. Sales jumped by 50%, profit before tax rose by 22% and adjusted EBITDA by 43%. Sales growth of at least 25% per annum is forecast for the medium term. For the full year to the 28th February 2019 revenue growth is expected to be 38% to 43%, up from previous guidance of 35% to 40%.