Amerisur AMER increased production significantly to 4475 BOPD in the half year to the 30th June. compared to 2016’s 2641 barrels. At the same time the average realised sale price rose from $38.4 per barrel to $47.3. These two factors resulted in revenue for the half year rising by more than 57% with the Platanillo field alone having producing 8MMBO so far this year. Average production by the end of the year is expected to have reach 7,000 barrels of oil per day compared to the present rate of 6,000 barrels. By the end of 2018, 16 wells are expected to be operational, all of them fully funded from cash resources and operational cash flow.
M&C Saatchi SAA enjoyed strong revenue momentum and earnings growth in the 6 months to the 30th June and interim dividend is to be increased by 15%. The UK as so often is the case, was the geographical laggard with only 5% like for like growth compared to 15% in Europe and 14% in the USA. Profit before tax and like for like revenue, both rose by 17% and earnings per share by 11%. The second half is said to have started well.
Elecosoft plc ELCO Saw profit before tax rise by 81% in the 6 months to the 30th June and shareholders are rewarded with a 30% proposed increase in the interim dividend. On a constant currency basis the rise in profits came to 68%. Revenue for the half year rose by 14%, basic earnings per share by 83% and EBITDA by 66%. Growth was experienced in all of the company’s geographical regions.
Osirium Technologies plc OSI which came to aim in 2016, has produced strong progress in sales momentum in the six months to the end of June with invoiced sales rising by 393% and revenue up by 59%. High profile data breaches and new regulations which are due t come into force in 2018 have attracted new customers and ensured the renewal of existing contract. Profitability has not yet been achieved because of high investment in sales and marketing and operating losses for the half year more than doubled but the company is pleased with its operational and financial progress which has resulted in it being declared a “cool vendor” by Gartner.