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Weir Group Recovery Starts

Weir Group Weir has North America to thank for signs of recovery in its fortunes. North American oil and gas markets have recovered more strongly than anticipated and volume and price increases have both been ahead of prior expectations. Operating margins in the first half have been in low double digit figures and full year revenue and operating profits will be above the upper end of analysyst’s estimates

Finsbury Food FIF updates that it is very pleased to have grown revenue in the year to the 1st. July, ignoring the unwelcome fact that on a constant currency basis its like for like revenue actually fell by 1.4% and on an actual basis only rose by 0.3% How Chief Executives hate to have to announce poor figures and will do their utmost to try and justify calling a fall, a rise. At least the second half performance was better than the first where the decline was twice as large, at 2.9%, The European business showed a leap of 17,3% but only 2.2% was organic growth and 15.1% was due to exchange rate benefits.

Plant Impact PIM expects strong growth in the use of Veritas in Brazil, with revenue for 2017 expected to rise from from £7.2m in 2016 to between £8.5 and £9m. The prospects for 2018 are even brighter with revenue expected to be around £13m.

 

Conviviality CVR is increasing its full year dividend by 33% to 12.6p per share. after what the company claims was a transformational year, with all areas of the business performing strongly, revenue rising by 85% and profit before tax by by 147%. The success has continued into the new financial year with sales for the nine weeks to 2nd July showing further growth of 9% compared to last year.

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