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K3 Capital Group plc K3C makes no bones about the significant uncertainty being created by the countries hapless politicians and the damage they are doing to the UK’s economic and political environment in the run up to Brexit, against what is becoming an increasingly difficult backdrop. At least here is somebody prepared to stand up and paint a true picture of how harmful our rulers really are. Significant transactions which the company has been working on continue to make progress and are in advanced stages of commercial negotiation.but they continue to experience challenges and take longer to complete than anticipated, Consequently they may not close within the current financial year which ends on the 31st May. The Group has continued to perform well and four out of five income streams across the Group will see strong growth. Despite this the mishandling of the Brexit situation is damaging the prospects of these high value transactions and will inevitably lead to a temporary dip in profitability
GVC Holdings plc GVC updates that it has made an excellent start to the year with continued strong volume growth in all major territories for the quarter between 1st January and 31st March. Total online NGR grew by 17% and total group retail NGR by 8%.
Creo Medical Group plc CREO continued to deliver against its strategic objectives during the 18 months to the 31st December reflecting a period of considerable progress. A widening suite of innovative medical devices was developed, The list of physicians participating in the Clinical Education Programme as part of a training led commercialisation plan was increased and the distribution network and manufacturing capacity was evolved in anticipation of commercial launch.The operating loss of £17.7m compared to £8.9m for the12 months to 30 June 2017 and was in line with management expectations.The company feels it has now established a solid platform for future growth.
Tricorn Group plc TCN expects profit before tax for the year to the 31st March to be about 30% up on the previous year, whilst revenue for the Year is expected to be around 2.5 per cent ahead.
Immarsat plc ISAT 2017 saw strong positive momentum, in fact so strong that it intends to reduce the level of annual dividend payments to 20 cents per share to ensure that it has sufficient financial resources. It will stay at that level until the cash flow of the business rebuilds enough to justify an increase. Group revenue for the year to the 31st December grew by 5.4% and EBITDA by 8% but the figures for quarter 4 were far worse with profit after tax down by 51.3% and EBITDA by 26.2%. Strong long term growth is anticipated in mobile satellite communications with mid-single digit % revenue growth expected on average over the next five years. No doubt shareholders will be hoping that this does not lead to further dividend cuts
GVC Holdings GVC adjusted profit before tax for 2017 rose by 182% and adjusted earnings per share nearly tripled from 0.19 Euro to 0.56 Euro. A second interim dividend of 0.175 euro per share is to be paid giving a full year increase of 13% to 0.34 Euro. A strong start has been made to 2018
Focusrite TUNE has seen first half growth in revenue, profits and cash, across a wide range of product groups and regions.Christmas trading was particularly strong and revenue for the half year is expected to have risen by over 25% to a total of 38m.
Clear Leisure plc CLP updates that its first data mining computers have now completed testing and its mining mobile units is ready to be shipped to its permanent home in Serbia and the first fractions of Bitcoins have already been extracted in ‘mining pool mode’. Delivery of low cost miner machines is expected within 10 days.A continuous daily stream of fractions of Bitcoin can now be mined.The results so far indicate that the joint venture with Miner One Limited will be able to produce more Bitcoin than initially anticipated and at a lower cost.
Morrison W. Supermarkets MRW reports its seventh consecutive quarter of what it calls “positive like for like” after strong first half growth in sales, profits and dividend. Like for like sales excluding fuel and VAT grew by 3% in the 6 months to 30th July, more than double last years first half growth rate of 1.4%. Underlying profit before tax rose by 12.7% and earnings per share by 14.9% and the interim dividend is to be increased by 5.1%. The company now expects to be able to deliver consistent and substantial growth, which is a lot more than can be said for most supermarkets.
GVC Holdings GVC made strong progress during the half year to the 30th June and this is continuing in the third quarter. Clean EBITDA for the current year is expected to be comfortably ahead of analysts consensus.Adjusted profit before tax rose by 99% after a rise of 25% in net gaming revenue. The statutory loss for the half year fell to 6.6m. Euro, down from last years 86.1m Euro
Booker Group BOK performed well in the quarter to the 8th September providing good news for Tesco which is hoping to be allowed to eventually complete the merger of the two companies. Like for like non tobacco sales over the 12 week period rose by 6% whilst tobacco sales continued to decline with a 9.4% fall on a like for like basis. No forward looking statements can be made because of the proposed merger.
Ricardo plc RCDO produced revenue growth of 6% for the year to 30th June after what it described as navigating a year of uncertainty and volatility. It ended the year with a record order book and a strong order intake. Underlying profit before tax rose by 2% and the full year dividend is to be increased by 7%.
Forbidden Technology FBT saw a slow down in first half sales because of larger deals which it had in its pipeline , leading to an increase in deferred revenue. Contracted orders rose by 67% including deferred revenue which itself rose by 74%. The net loss before tax fell slightly as did the EBITDA loss.
Go Ahead Group GOG The really good news is that Go Ahead is bidding for a number of new rail contracts but they are all in Germany, so success will not bring more misery to the UK
The grossly misnamed provider of rail and bus services to the long suffering British public announces that it shares with its customers, expectations for its rail division, namely that they will be lower than what was previously hoped for helpful site. Overall growth rates for the bus division have been suppressed adding to the problems of the troubled company, by what appears to be fairly substantial weakness in the north east but Singapore is doing its best to save the day and make up for the Geordie shortfall. GTR services have been heavily impacted by Aslef’s industrial action but further risks remain.
Centrica CNA expects to exceed its 2016 targets first set out at its 2015 preliminary results. The second half performance has been strong. Efficiency savings have absorbed the effects both of inflation and currency movements and the like for like head count has been reduced by 3,000. Adjusted earnings per share are expected to be around 16.5p. A stronger second half performance in North America energy supply has also helped following the warm weather problems of the first half. Preliminary results are expected on the 23rd February.
Bunzl BNZL has not seen much change since its last update. Forecasts for the year to the end of December are still that group revenue will have risen by 14-15% at actual currency rates and 4-5% at constant currency rates,and all of it due mainly to acquisitions. Bunzl agreed to buy 13 businesses this year. The only change which may be significant is that the 4th quarter has seen the beginnings of like for like growth, contrary to the first 3 quarters.
GVC Holdings GVC is to increase by 49% the special dividend announced on the 3rd November, following strong fourth quarter trading and growing momentum. Results for the year to 31st December are expected to be at the upper end of market expectations.
Impellam Group IPEL admits that it is managing and will continue to manage the business prudently but only because of the prevailing uncertainty in the UK and the fact that UK healthcare performance has been impacted by the actions of the government. One can only wonder how it managed the business previously before these factors came into play and how it will manage it in the future once the need for prudence has flown out of the window, The company spokesperson gets this weeks foot in mouth prize.