Iofina IOF reached a number of significant operation and financial milestones during the six months to the 30th June and is now optimistic about the remainder of the year. Production during the half year exceeded expectations and spot iodine prices have risen by 25% since the start of the year, after earlier weakness which led to a fall in revenue of 18%. EBITDA has more than tripled from US$0.2m to $0.7m and the group is increasingly positive about future profitability
Saga plc SAGA pre tax profit before tax for the six months to 31st July fell by 6.3% and the interim dividend is increased by 11.1%. Saga would prefer that you concentrate on underlying profit before tax which grew by 5.5%, enabling it to claim four consecutive years of growth. Growth in travel was strong with travel profits rising by 63%.
Smiths Group SMIN claims that it is well positioned to return to growth but not just yet and the likely starting date is given as 2018. For the year to 31st July the dividend is being increased by a cautious 3% after full year revenue rose by 11%, pre tax profit by 17% and like for like basic earnings per share by 15%. Problems such as unspecified market challenges in the John Crane subsidiary and new product delays in Smiths medical impacted the years outcome.
Windar Photonics WPHO which developed and produces wind sensors for wind turbines saw first half turnover rise by 62% exceeding that for the whole of 2016 which was a challenging year. At the same time operating costs fell by 47%, resulting in the net loss for the six months to 30th June falling from last years E1.8m to 0.8m and the EBITDA loss falling by 74%. Further growth is expected in the second half.