Iofina IOF expects to see a significant rise in production for 2018 with a target of 575 to 605 metric tonnes of crystalline iodine compared to 503 metric tonnes in 2017. As a bonus on top of that, iodine price have continued to strengthen. The cloud on the horizon however, is that Iofina and a number of other companies have been found guilty of dumping iodine into China, resulting in the imposition of anti dumping duties. A final decision on this is not expected until the autumn but the poor state of trade relationships between the US and China means that a favourable outcome is not a certainty
DS Smith plc SMDS produced a strong set of results in the year to 30th April as it saw a return to growth. Revenue and adjusted profit before tax both rose by 17% on a constant currency basis and basic earnings per share rose by 10%. Margins were strong and good momentum is being maintained in the current year.
Volex plc VLX produced its best financial performance for five years and claims that it is strongly positioned for future growth. The year to the first of April saw the company produce its first statutory profit after tax since 2012. Last years statutory loss of $8.5m was turned into a profit before tax of $7m.and revenues are expected to show organic growth in the current year.
Angling Direct ANG is continuing its strategy of consolidating the fishing tackle market with the acquisition of Ted Carter Fishing Tackle which has a 3,000 s.ft. store at Preston. Carter had a turnover of £1.2m. in the year to 31st March and the consideration for the takeover is £125,000 plus stock at valuation, payable in cash.