Games Workshop Group GAW Issues a strange update covering the short period to the 7th October from the date of the last update in September. Sales are ahead and profits are at a similar level to last year, so why the need for an update. Well there seems to be a big “but” in that suddenly the Board decided that it should warn that there are some uncertainties and it remains aware of them.i.e. it has not just discovered them, since September and these uncertainties, are not just any old uncertainties, they are uncertainties about future trading which the Board is keeping secret.So why issue a warning and keep secret the reason for the warning.That makes it sound serious. An update about the update will be given “as appropriate” makes it sound even more mysterious.
RWS Holdings plc RWS has enjoyed its best year ever, with group revenues in the year to the 30th September having risen by 85%. Adjusted profit before tax is also expected to have been slightly ahead of market expectations. The Chairman eulogises that this has been a transformational year underpinned by a strong financial performance and increasing momentum.
Zytronic plc ZYT Preliminary results for the year to the 30th September showed that trading in the second half of the year produced a 10% improvement in revenues over the first half, resulting in total revenues for the year of £22.3m which is in-line with market expectations.The cost of new designs and production techniques however, resulted in lower than expected margins, and in particular a spurious patent claim was settled for £72k, plus legal costs of triple that amount, resulted in full year profits before tax being behind market expectations. Query, why settle a patent claim if it is spurious.
Renishaw plc RSW Saw revenue for the 3 months to the 30th Setember rise by 8% on a like for like basis. Despite a 27% rise in Healthcare adjusted profit before tax for the quarter declined by 9%