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Company news, including: Castings – Steady Demand, Heady Dividends

Castings Castings CGS has declared a supplementary dividend of 30p per share in addition to increases in the interim and final dividends to make a total of 13.71p for the year to 30th March.  Customer demand is said to be steady.

Severfield Severfield SFR  aims to double underlying profit before tax over the next 4 years and with the order book at its highest for 6 years, it seems set fair to succeed. Orders as at 1st June had risen to £270m. compared to £ 185m a year ago.  2016 proved to be a strong year with excellent revenue and profit growth. Profit after tax for the year to 31st March rose from a measly £0.1m. to £8.6m.  after a 19% revenue increase and a rise in basic earnings per share from 2.3p to 3.67p. The company is to pay a final dividend of 1p. per share.

oxford_instruments_thumbOxford Instruments OXIG The CEO claims to be excited by the opportunities for the company, with last years loss of £9.6m turned into a profit before tax of £13.1m for the year to 31st March. Operating cash flow increased by 27% despite a decline in revenue of 4.9%. The end of year order book was 12.1p up on the previous year and the dividend remains unchanged at 13p. per share.

The Nightmare Chancellor now announces that taxes will have to rise if the UK Brexits. Has it taken up to 8 days before voting day for him to realise that or is it just  desperation on his part. If after 3 years he has only just woken up to tax consequences of Brexit, then he is not fit for purpose.  And still neither he nor Cameron can find a good word to say about the benefits of Remaining.

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