Dairy Crest Group DCG Expects a good first half performance, with Clover, Country Life and Frylight all showing strong volume growth for the half year which will end on the 30th September. Market share continues to be increased. However there are clouds on the horizon in the shape of price inflation which has already started and which the company expects to impact margins and butter volume in the second half. The milk price paid to farmers has risen by 12% and the price of cream has doubled in a very short period.
Petra Diamonds PDL Net profit after tax rose by 12% for the year to 30th June following only a 1% rise in revenue on production up by 16%. Petra describes these as a strong set of results despite pressure on prices in the first half and unusually it gives no further information on prices, preferring instead to the look to the future outlook it see for 2017 which it claims will be the year when all the promises start to become reality. Firstly it will enter the final stage of its expansion program and in the second half it expects to become free cashflow positive, despite some caution about future diamond prices but again no further information is provided.
Finsbury Food FIF performed strongly during the year to 2nd July with adjusted profit before tax up by 40.8% and the final dividend increased to to 1.87p, making a rise for the year of 12%. Like for like revenue was up by 5% and total revenue by 24.8%. 2016 was the year when it delivered on its growth strategy and rolled out vision and value at all levels, whatever that may mean. For 2017 claims to be excited about new innovations for muffins and doughnuts. The balance sheet is strong and it has made record capital investment for the future
Styles & Wood STY produced a strong performance for the half year to 30th June with good growth and strong cash generation. Significant success was achieved in securing long term contracts as its diversification program began to bite. The company returned to profitability with last years first half loss of £0.5m being turned into a profit of £0.4m and earnings per share coming in at 2.6p compared to last years loss of 10.2p per share. Net debt has been virtually halved.