Legal & General LGEN heaps praise upon itself for its resilient and consistently improving financial performance, as it raises its interim dividend from 4p per share to 4.3p per share. The figures are certainly impressive with half year profit before tax and earnings per share each up by 41% and it is all due to excellent management execution. Of course when Brexit or other clouds, gather on the financial horizon, it will probably all become the fault of the politicians but we can leave that for another day.
G4Splc GFS is yet another company whose Chief Executive witters on about its “pipeline” with new products and services strengthening its sales operations. For the six months to the 30th June revenue rose by 6.2% and earnings per share at constant rates were up by 7.8%. The company’s investment proposition is to deliver sustainable growth in earnings, cash flow and dividends – hands up anyone who can name a company which admits to different aims. Despite pipelines and investment propositions, the interim dividend remains unchanged.
Telit Communications plc TCM The Chief Executive, Oozie Cats has requested and been granted leave of absence following speculation about his possible indictment in the US in respect of matters which are entirely unconnected with the company.
Tasty plc TAST has had to admit that despite a full review of its operations, management has been unable to take any action which is likely to bring about the expected improvement in the company’s fortunes during the course of the current year. Instead it falls back on the forecast made at the end of March that the trading environment would be challenging and so it has proved to be. Profit after tax for the 27 weeks to the 2nd July collapsed from last years 1,283,000 to a mere 200,000 pounds.. Disposals and closure to take place. The full story should be released with the interim results in September.
Nanoco Group NANO welcomes as much needed, the decision by the European commission to ban the use of Cadmium in TVs lighting and other displays. Nanoco is a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials.