Telecom Plus TEP delivered record revenue, profits and dividends in the year to the 31st March, with growth and momentum becoming significantly faster. The impact of a warm winter and the Ofgem price cap have led to expectations that pre-tax profits will be towards the lower end of previous guidance at around £56m. For 2020 however it is expected that accelerating growth will lead to adjusted profit before tax of between £60m and £65m and a 10% increase in the total dividend to 57p per share, compared to this years 4% rise to 52p per share,
Countryside Properties plc CSP reports solid trading in the 6 months to the 31st March, with completions up by 43%, the private average selling price down by 4% and a strong forward order book up 49%. After a slow start to the year, the spring selling season is described as having been robust. Completions are expected to be weighted towards the second half.
Bunzl plc BNZL Group revenue in the first quarter from the 31st December increased by 4% at actual exchange rates whilst at constant exchange rates the rise was 2.5%. The rate of underlying revenue growth however slowed during the quarter due to mixed macroeconomic and market conditions across the countries in which the Group operates, especially in North America.
ZOO Digital Group ZOO reports that the financial outturn for 2019 is frustrating and has been impacted by market shifts and client disruption, The company has already disclosed that planned investment has impacted on profitability to such an extent that adjusted EBITDA in the second half will be around break-even at around $0.5m.
SEGRO plc SEGRO has continued to grow well during the quarter commencing on the 1st January. Increasing occupancy, uplifts from rent reviews and renewals and development activity, all contributed to securing £21 million of new headline rent. 44 projects are currently under construction, 72% of which are already leased, and expected to generate £57 million of annualised rent. The vacancy rate has reduced to 4.4 per cent with decrease since December reflecting strong lettings of both existing and recently completed speculative space.
Dialight plc DIA continues to work on its recovery and global end markets continue to be robust.The Board expects further progress to be made in 2019 and the Group’s results to be heavily weighted towards the second half.