JD Sports (JD.) has produced yet another record set of half year results, with strong growth in the six months to 29th July producing a 41% rise in revenue. Profit before tax was up by 33% and the interim dividend is to be increased by 4%. Sales in the second half have continued at the same level and it is anticipated that year end figures will be towards the upper end of market expectations.
1PM plc OPM The year to 31st May was one of strong organic and strategic growth, continuing the trend of recent years. Revenue rose by 35% and profit before tax and exceptionals by 17%. Basic earnings per share were up by 4%. Robust levels of demand were experienced in all the company’s trading subsidiaries. A proposed dividend of 5% is proposed on the 83.8m shares currently issued compared to last years 52.5m.
Ashtead Group AHT produced another strong set of results for the first quarter to 31st July with revenue at constant exchange rates rising by 17% and both profit before tax and earnings per share by 21%.
Futura Medical FUM claims that excellent progress was made with MED 2002 in the first half of 2017 and a phase III study is now expected to start in the first half of 2018. Discussions with potential licensees have have already started. CSD500 has been successfully launched in the Middle East. First half losses fell from £1.89m to £1.5m as R&D expenditure on MED2002 was reduced.
AA plc (AA.) has admitted that yesterdays speculation was correct and that in early summer it did have preliminary discussions with Hastings about combining its insurance business with that of Hastings.
Tasty plc TAST experienced a weak trading environment in the 6 months to the 2nd July, with pressure on sales and margins forcing it to to take decisive action to improve its position. Despite an 11.8% rise in half year revenue, like for like sales actually declined and profit before tax slumped from £1,615,000 in 2016 to just £210,000. Challenging conditions, it claims, have been recognised, under performing sites have been identified, some are in the process of being disposed of and others placed on the market.