600 Group SIXH 60% of group activities are now in the US giving the company considerable protection against any damaging consequences from Brexit. Only 13% of group sales go to Europe and the company is now concentrating on building up its presence in South East Asia.The year to 2nd April was not a good one with profit before tax nosediving from £3.68m. to £1.01m and earnings per share more than halving from from 2.66p to 1.26p. Machine tools is a challenging market and the company did well to show a 3% rise in revenue and it is contuing to implement structural changes.
Hays plc HAS claims an excellent financial performance for the year to 30th June, with like for like net fee growth of 7%, producing an 11% rise in profit before tax and a 14% rise in earnings per share. The final dividend is to be increased by 5%. Both earnings and cash were ahead of market expectations, although on net fee growth the UK and Ireland lagged behind the rest of the world. The broad geographical spread of the company’s activities saw more than 22 countries producing growth in excess of 10%.
Safestore Hldgs SAFE saw its strong trading performance continue during quarter 3. to the Like for like revenue to 31st July rose by 6.6% at constant exchange rates, the UK being particularly strong with a rise of 7.5%. Closing occupancy rates were up by 2.6% and again the UK put in a strong performance. The weakness of sterling helped results from the Paris operation. Pricing during the quarter was robust with the average rate up 0.6%. Tax adjusted earnings were ahead of current market expectations.
Vertu Motors VTU Expects that full year results will show robust trading with profitability ahead of last year and revenue and profitability both reaching record levels. There is however the odd cloud or two looming on the horizon in that new retail vehicle registrations have been weak since April and the company expects this to continue.New vehicle orders for September are reflecting the changed situation.