RWS Holdings RWS expects revenues for the year to the end of September to have risen to £163m, an increase of 33%, after producing an excellent performance in what it claims to have been an outstanding year. Profit before tax is expected to be strong and ahead of market expectations, helped by two acquisitions and currency benefits.The strong momentum across the group is expected to continue.
Finsbury Foods FIF has issued an update laden with gloom. Since the last update on the 23 August it has decided to close its loss making Grain D’Or factory, the closure to be completed by the 2nd December at a cost which could exceed £10m spread over 7 years compared to the current annual loss of £3.3m. The hurried decision to close the factory follows the loss of two large contracts since the year end. Savings will be made from the cancellation of capital investment programs which are described as having been significant. Current market conditions add to the air of gloom as does the high price of butter. The shape of the future depends on an upturn in the market.
easyjet EZJ updates that it expects headline profit before tax for 2017 to be at the upper end of guidance, as revenues continue to improve, despite low summer fares in quarter 4 leading to a fall of 3.7% in revenue per seat. Exchange rate movements in 2017 are now expected to have had an adverse impact of about £100m. As for the coming year, capacity is planned to expand by 6%, falls in fuel prices are expected to bring benefits of between £125 and £145m. whilst the foreign exchange impact is expected to be beneficial to the tune of about £20m.
CRH plc CRH has reached agreement to acquire Ash Grove Cement Company (“Ash Grove”), a leading US cement manufacturer based in Kansas, for a total consideration of US$3.5 billion. The proposed transaction remains subject to Ash Grove shareholder and regulatory approval.