Diageo plc DGE updates prior to its AGM that the year has started well but increased foreign exchange volatility in emerging markets will have a £175m impact on sales and a £45m.impact on operating profit for the fiscal year.
Stobart Group plc STOB has issued a pre close trading statement for the six months to the 31st August showing that aviation passenger numbers at London Southend Airport have risen by 37%. Further growth will be added with the start of Ryanair flights in spring 2019, the target being to reach 5m passengers per year by 2022. Stobart claims it is well placed to deliver the ambitious growth targets set by the Board to double the value of the business. An interim dividend of 4.5p per share is to be paid.
Kier Group plc KIE announces what it describes as a good set of results for the year to 30th June with all divisions performing well. The year ended with a record order book of 10.2bn in construction and services. Both profit before tax and basic earnings per share rose by 9% and an increase of 2% is proposed in the full year dividend.
Iofina IOF has continued to improve both revenue and profitability. in the half year to the 30th June. Revenue rose by 20% on top of which it benefited from price rises of 8% and production increases. Iodine prices are continuing to rise and production increased by 12% ahead of revised production targets. EBITDA was up by 6% and the operating loss was reduced to $47,000 and the loss before tax to $0.8m.
The City Pub Group CPC claims it made strong progress in the half year to the 1st July, with sales up by 24%, adjusted EBITDA by 25% and adjusted profit before tax by 73%. Nine pubs have been opened this year and it anticipates operating more than 50 by mid 2019. It is ahead of its strategy to double in size to 65-70 sites by 2021.The momentum seen in the first half has continued into the second half