AVEVA AVV The final dividend for the year to 31st March is being hiked by 20% after a 46% collapse in profit before tax. This fairly logical step follows revenue for the year to 31st March declining by 3% and basic earnings per share falling by 51%. Aveva would have us believe that this superb performance is due to strong customer relations, the strength of its business model and its disciplined approach to efficiency. Those of us who are still on planet earth, may have their doubts.
Entertainment One ETO is increasing its final dividend for the year to the end of March by 9%, in line with the rise in reported profit before tax. EBITA was up by 20% but diluted earnings per share fell by 23%. TV & Family enjoyed strong organic growthFilms was weak with revenue down 7% and underlying EBITDA down 28%. The Film division is to be punished with a wide ranging restructuring programme. Despite Films problems, the company is still on track to double the size of the business by 2020.
De La Rue DLAR Seems to have benefited from the disposal of its loss making bits and pieces which has helped to make the figures from the remaining bits and pieces look better. Like for like figures for the year to 26th March show revenue up by 7% and underlying profit up by 2% or 35% if you prefer your profits on a reported basis. It expects to be able to mitigate the ending of a material contract and one positive sign is that the 12 month order book is up by 62%. It has not quite got its head round the fact that “a10% net headcount reduction” means a10% reduction in the number of headcounts and not in the number of heads but we know what they are trying to say even if they have not quite got the English to say it correctly.
Topps Tiles TPT continues its recovery with profit before tax up by 11% and earnings per share by 12.2% for the half year to the 2nd April. Like for like revenue grew by 4.7% and the second half has started even more strongly with like for like sales up by 8.4% in the first seven weeks.
The interim dividend is to be increased by 33.3%.