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Ian Pollard – Autotrader Enjoys Strong Growth

Autotrader AUTO The year to the 31st March was one of strong revenue and profit growth, although the second half felt the effects of broader economic uncertainty. Revenue for the year rose by 7% and profit before tax by10%. A final divided of 4p per share is proposed up from last years 3.5p and making a total for the year of 5.9p per share as against last years 5.2p per share. The new year has started well.

Sopheon SPE is full of praise for its recent past performances and it looks like the air will be full of self congratulation at today’s AGM. As for the immediate outlook, positive momentum has continued and full year revenue so far has risen by 34%, an all time high for its mid year AGM report. The Board says it continues to be enthusiastic.

Intercede Group plc IGP Preliminary results for the year to 31st March show a rise of 11% in revenue, after a strong year end. However this made little impression on last years losses of £3.9m. which fell to £3.8m., despite staff numbers being slashed from 120 to 98. A new Chief Executive has been appointed and the management team has been reorganised in an attempt to bring the company back to profitability.

Joules Group plc JOUL updates that for the 52 weeks to the 27th May group revenue rose by 18.5% with retail up by 15.9% and wholesale by 24%. Underlying profit before tax will be marginally ahead of analysts expectations.The strength and appeal of the brand is credited with the success.

Veltyco Group plc VLTY proposes paying a maiden dividend of 0.25p per share for the year to 31st December 2017 after revenue grew by 165% following the completion of acquisitions and operating EBITDA rose by 260%. The momentum has continued into the current year with revenue so far growing by a further 60% compared to 2017.


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