Royal Mail RMG Letter revenue in the 3 months to the 24th June fell 7% but GLS continued to perform strongly, with volumes up 10% and revenue up 11%. The Quality of Service performance has been so bad and has impacted the company to such an extent that on the 1st June Ofcom commenced an investigation into it for the 2017-18 financial year. The outlook for addressed letter volume is not good and the expected decline of between 4-6% per annum may be exceeded and in GLS margins may be impacted by continuing labour market pressures. One brighter area was parcels where revenue rose 6% and volume 7%.
Talk Talk Communication Group TALK delivered strong customer and Headline revenue growth in the first quarter to the 30th June as momentum continued. Performance and demand in the various divisions is described as being strong or solid. Taking into account the ongoing cost reduction programme,this is expected to produce annual EBITDA growth of 15%.
Dairy Crest Group DCG updates that sales of its four key brands in the 3 months to the 30th June were 6% higher than last year. The two largest brands, Cathedral City and Clover, continued to outperform with revenue growth of 10%. This was true generally for spreads which continued to go from strength to strength, whilst the butter market remains challenging. The full year outlook remains unchanged.
Galliford Try GFRD expects to report strong pre-exceptional results, after a strong underlying performance for the year to the 30th June. At Linden Homes the average private sales price, rose 4% to £367,000.and a further significant improvement in margins is expected. A total of 3,442 units were completed, up from 2017’s 3,296 units.
Clinigen Group CLIN has performed strongly in the year to the 30th June, with reported revenue rising by 26%. Commercial medicines had an excellent year. It is anticipated that results will be in line with market expectations and that in the coming year there will be further growth across all parts of the business.