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Fidessa Shareholders Benefit from Sterling Weakness

Fidessa Group FDSA claims solid growth for the year as a whole but then admits that most of it was due to the weakness of sterling rather than the success of the company and its management. At constant exchange rates revenue rose by 3% and profit before tax by a lowly 1% compared to the actual exchange rate figures of 12% and 25% respectively. The reality however is used to give shareholders a big present with an 11% rise in both the final and special dividends.

Firestone Diamonds FDI held its first diamond sale last week in Antwerp. All carats on offer, a total of 75,936, were sold at an average price of US$107 per carat, producing a total of US$8.14m. The highest price achieved for a single stone exceeded US$1m. The company describes the total as pleasing as the diamonds were recovered from lower quality ore areas. Over 90 companies viewed the diamonds and 38 were successful. A second auction is expected before the end of March.

Plastics Capital PLA Third quarter revenues were ahead of expectations following stronger than expected demand and trading condition remain generally good.  Full year results however, are expected to be in line.

EG Solutions EGS Strong second half trading produced record revenues up by over 50% to £5.69m., compared to the first half total of £2.5m. The first half loss of £0.89m. was turned into positive EBITDA of over £2.m Several new contracts have been signed with major global companies in America, Asia and Europe.

Lok’nStore Group LOK First half trading in the self storage business remained solid with revenue up by 3.9% and self storage occupancy rose by 4.6%. Document storage revenue was up by 8%

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