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Daily Mail Ups Divi After Profits Slide

Daily Mail & General DMGT After a dismal half year the Daily Mail is increasing its interim dividend by 3%, justified no doubt by an 11% fall in both profit before tax and earnings per share for the six months to 31st March.  The big impact came from weak print advertising, with no explanation provided as to why. Perhaps the board doesn’t have one and is hoping that shareholders will not bother to ask. Statutory profit before tax did rise by £68m. after some of the family silver was sold off and the Chief Executive is to retire next month after 27 years with the company.

Tate & Lyle TATE claims a solid financial performance and strong project delivery for the year to the end of March, with a five fold rise in profit before tax and almost sixfold in diluted earnings per share. The adjusted results show more modest growth of 5% and 8% respectively but let it not be denied credit for its long awaited success. The total dividend for the year  remains unchanged at 28p per share.

Ibstock IBST expects another year of progress after good trading momentum  continued during the first four months of 2016. Demand for new housing was robust, even the weather was favourable and a housing recovery in the US got under way. Full year results are due on the 5th August.

Henry Boot BHY has found that trading has been encouraging since the beginning of the year despite some uncertainty caused by the referendum Activity in Land development has been particularly strong.



Paypoint PAY After a fall of 83.6% in profit before tax PAY is raising its ordinary dividend by 10% and making a special payment of 21p following the sales of parts of the business which have been completed. It claims to have been severely impacted to the tune of £72m by the sale of online and the non sale of its mobile payments business, a double whammy if ever there was one. The company is confident that its strategy is correct and appears to have stopped making any more boardroom changes because of the large number of changes already carried out.

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