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Brexit Fears Grow Over Freedom To Fly

Dart Group DTG is aware of the uncertainty surrounding Brexit negotiations and the effect which the outcome of these could have, especially on the extent of its “freedom to fly”. For the year to 31st March revenue rose by 23% and the proposed final dividend is to be increased by 26%. Profit before tax for the year fell by 14% after considerable investment to launch its new operating bases at Birmingham and London Stansted and a £10.9m charge for foreign exchange revaluation losses. Without the foreign exchange losses the fall in profit before tax was limited to 4%. Basic earnings per share fell by 14%.

Telford Homes TEF expects that the current financial year will produce profit before tax of £40m of which over 80% has already been secured and that in 2018-19 the figure will rise to £50m of which over 60% has already been secured.

ASOS ASC Total reported retail sales in the 4 months to the end of June rose by 32% or 26% on a constant currency basis as the company’s strong first half sales momentum continued. The only weak spot appeared to be in the US where reported sales growth fell from 51% over ten months to 38% in the 4 month period.

Babcock International BAB has made a good start to its new financial year with 82% of revenue now in place for for 2017-18 and 55% for 2018-19. A major contract  worth up to £500m. has been secured  to operate a fleet of specialist fixed wing aircraft for the Norwegian Health Service.

AdEPT Telecom ADT is increasing total dividends for the year to 31st March by 19.2% after the company’s 14th consecutive year of underlying EBITDA growth.This year saw a rise of 27.2% to £7.83m. and adjusted earnings per share were up by 20.3%

BTG plc BTG The strong performance experienced in 2016-17 has continued into the new financial year and double digit sales growth is expected over the full year.

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