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Amerisur AMER increased production significantly to 4475 BOPD in the half year to the 30th June. compared to 2016’s 2641 barrels. At the same time the average realised sale price rose from $38.4 per barrel to $47.3. These two factors resulted in revenue for the half year rising by more than 57% with the Platanillo field alone having producing 8MMBO so far this year. Average production by the end of the year is expected to have reach 7,000 barrels of oil per day compared to the present rate of 6,000 barrels. By the end of 2018, 16 wells are expected to be operational, all of them fully funded from cash resources and operational cash flow.
M&C Saatchi SAA enjoyed strong revenue momentum and earnings growth in the 6 months to the 30th June and interim dividend is to be increased by 15%. The UK as so often is the case, was the geographical laggard with only 5% like for like growth compared to 15% in Europe and 14% in the USA. Profit before tax and like for like revenue, both rose by 17% and earnings per share by 11%. The second half is said to have started well.
Elecosoft plc ELCO Saw profit before tax rise by 81% in the 6 months to the 30th June and shareholders are rewarded with a 30% proposed increase in the interim dividend. On a constant currency basis the rise in profits came to 68%. Revenue for the half year rose by 14%, basic earnings per share by 83% and EBITDA by 66%. Growth was experienced in all of the company’s geographical regions.
Osirium Technologies plc OSI which came to aim in 2016, has produced strong progress in sales momentum in the six months to the end of June with invoiced sales rising by 393% and revenue up by 59%. High profile data breaches and new regulations which are due t come into force in 2018 have attracted new customers and ensured the renewal of existing contract. Profitability has not yet been achieved because of high investment in sales and marketing and operating losses for the half year more than doubled but the company is pleased with its operational and financial progress which has resulted in it being declared a “cool vendor” by Gartner.
Debenhams DEB Where shall we take the kids today, darling ? What about Debenhams for a fun social time? Daddy. daddy yes, pleeease ! There used to be only one reason to go to Debenhams and management appears to have completely forgotten what that was. It was to shop and buy things, you dunderheads. If Debenhams customers are going for and having, a fun social time they are not buying and Debenhams is not selling. No wonder UK EBITDA is down by 6% No wonder its online performance has been strong and it is trying to make progress in non clothing categories and no wonder that for the half year to the 14th March group profit before tax fell by 6.4%.
Unilever plc ULVR is raising its quarterly dividend by 12% as first quarter turnover rose by 6.1% after a positive currency impact of 2.4%. Underlying sales growth for 2017 is now expected to rise by between 3% and 5%. Market conditions remained challenging with negative volume growth in Europe and North America. India did show some recovery from the effects of removal of currency notes but Brazil was adversely impacted by its economic crisis.
MAN Group EMG The first quarter of 2017 was a strong one for Man with funds under management rising by 10%, with growth in each of its investment engines. MAN now looks forward to the” alpha” opportunities being created by the global environment – Nothing like jargon when you are stuck for words – alpha opportunities indeed !
Paragon Entertainment Ltd PEL claims to have succeeded in doing what it set out to do in 2016, with revenue up by 70% to £14.4m and gross profit up by 91% to £3.76m. Projects completed included Coronation street, Fountains Abbey and Rolling Stones. With new projects in the pipeline, the company claims it is excited about its future
Amerisur Resources AMER Platanillo – 22 well has now been tested at 613 barrels of oil per day which is materially ahead of pre test expectations of between 300 and 400 bopd. The well has been placed on commercial production.
Amerisur Resources AMER Produced a slightly increased loss after tax at $28.5m in the year to the end of December, following lower oil prices, planned reduction in production and a one off impairment charge of $15.3m. from its investment in Paraguy. Since the year end global oil prices have increased, transport costs have fallen and there has been a significant increase in production from the Platanillo field which is now producing over 4,000 barrels of oil per day and continuing to rise towards its 2017 target of 6 to 7,000 bopd. The company sees a strong outlook for 2017, with production becoming increasingly profitable.
The shares have lost over two thirds of their value since August 2014, falling from 66p to a low of 20p. There has recently been something of a recovery with the price now at 22.17. Whether that will hold on the basis of future promises, rather than on 2016’s past performance remains to be seen.
CEY Centamin First quarter gold production fell, as forecast, at 109,187 ounces, down 20% on the previous quarter and 13% on 2016 Q1. The full year target for 2017 of 540,000 oz. is still expected to be
Plant Health Care PHC US Sales disappointed in the year to the end of December, due to distributors having excess year end inventories. Outside the US sales rose by 15% on a constant currency basis, showing strong progress its key strategic objectives.