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Ian Pollard – Filtronic Interim Profit Halved

Filtronic FTC has seen its strategy result in new contract wins but too late to prevent the first half turning into something of a disaster.. Revenue for the 6 months to the 30th November plunged from £21.6m to £12.8m and operating profit halved to £0.9m. The second half is not expected to be any better and no further growth is seen until 2019

Dominos Pizza DOM Trading performance was boosted by 43 net new store openings in quarter 4 compared to a record 95 for the full year. Organic revenue for the quarter rose by 10.1% as against 8.9% for the full year. The UK demonstrated its resilience in what is described as a challenging and competitive environment with like for like sales rising by 6.1% compared to 4.8% for the full year. Underlying profit before for the year is anticipated to be slightly above current market expectations.

PZ Cussons plc PZC Like for like revenue for the half year to the 30th November rose by 3.3% but that was not enough to prevent a 14.1% fall in adjusted profit before tax. Strong profitability in Asia was offset by reduced margins in parts of Europe and in Africa. The performance was underpinned by a strong and innovative product pipeline  and profitability is expected to improve in he second half as a result of new product launches and distribution expansion.

Safestay SSTY performed strongly in 2017, both in the UK and in Europe as interest in hostel accommodation rose to record  levels.Total revenue for the year to 31st December rose by 43% with the UK enjoying a 15% rise. Occupancy rates at the hostel at Kensington Holland Park grew by 32% during the year and a series of acquisitions in 2017 took the number of beds from 1526 to 2306 with a  further 330 still to come.

UBM plc UBM expects the full year out turn and adjusted operating profit to be ahead of expectations and a final dividend of 18p per share will be paid   making a year on year dividend increase of 6.8%. Fourth quarter trading was ahead of expectations and event revenue growth of at least 5% is expected, taking group revenue for the year to 31st December to above the 1 billion mark

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