Cobham COB is yet another UK industrial giant which has proved incapable of meeting challenging trading conditions and the full year outcome will be behind management expectations, despite hopes of some improvement in quarter 4. The Chief Executive announced in August that he is stepping down and his replacement will be in place by January.
Plus 500 PLUS Despite new customers rising by 47% to record levels in quarter 3, revenue for the quarter fell by 4%. The strong growth of the first half has continued and the first 9 months has still produced record revenue with a rise of 14% and record new customers with a rise of 18%. The company is now to concentrate on increasing revenue for the rest of the year rather than catching new customers.
Fusionex Intl. FXI The momentum created in the first half has continued, leading to a strong financial performance and the company expects that full year EBITDA will be significantly ahead of market expectations.
Petra Diamonds PDL First quarter production to the 30th September rose by 30% producing revenue of $94.7m. This years second tender at which sales of 574 carats were achieved was held in October and produced sales of $66.4m. Petra says that it will be free cash flow positive as from the second half of 2017. Since last November the share price has risen from 50p to Fridays close at 139p.
Cerillion CER expects full years results will show an increase of 6% and 8% respectively in revenues and EBITDA after continuing second half progress. Its performance is underpinned by a strong back order book.