Centrica CNA Produced weak second half results, after poor performances in Business Energy and in particular in North America created material uncertainty around the company and resulted in what it admits was a very poor shareholder experience.. A combination of political and regulatory interventions gets part of the blame but Centrica makes no comment as to whether these were justified or not. Despite a 3% rise in revenue, adjusted operating profit fell by 17%, EBITDA by 9% and basic earnings per share by 25%. Statutory operating profit collapsed by 80% and the dividend not surprisingly remains unchanged at 12p per share.
British Am Tobacco BATS is increasing its dividends by 15.2% after a record year in 2017 which delivered another set of strong financial result. Revenue rose by 37.6% and adjusted diluted earnings per share by 14.9% after completion of the acquisition of Reynolds American in July which it describes as a transfomational deal. On an organic basis cigarette volume fell by 2.6% but that outperformed the market which fell by 3.5%
BAE Sytems BA Delivered a good performance in 2017 and sees an improved outlook for 2018 for defence budgets in a number of markets. Underlying earnings per share rose by 8%, EBITA by 4% and the increase in the final dividend to 13p per share makes a total increase of 2% for the full year.
Moneysupermarket MONY continued to deliver robust results in its core business for the year to 31st December and is increasing final dividend by 6%. Adjusted EBITDA rose by 5%, profit after tax by 6% and basic earnings per share by 7%.
Go Ahead Group plc GOG produced a good performance in the half year to the 30th December and expectations for the full year have have increased due to one off rail benefits. Results for the rail division are ahead of expectations. Profit before tax rose by 19% and basic earnings per share by 7.3%. The interim dividend remains unchanged.
Serco Group SRP delivered a solid performance in 2017, producing profits at the top end of expectations, in a difficult market. The year ended with a strong order book. Despite a 2% drop in revenue for 2017 underlying profit rose by 10% over 2016 and are expected to contiue to grow in both the current year and in 2019.