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Pharmas, Builders Supplies and Construction Boom

Today’s mix of results clearly indicate continuing boom conditions in well managed pharma companies with new successful products – (viz AMS yesterday) and in companies which can prosper on the tailcoats of the house builders whose boom seems never ending. ( except for the warning signs in Central London)

Marshall’s MSHL showed a strong rise of 31% in profit before tax for the year to the end of December. Basic earnings per share followed suite with a rise of 32% The final dividend was increased by 22% and the recommended supplementary dividend will be up by 50%, making a total rise for the year of 30%. This was all achieved on a rise in revenue of only 3%. Since the start of the new year both sales and order intake have been strong.

Clinigen CLIN achieved over 30 growth across all its key financial measure in the half year to 31st December and is increasing its interim dividend by 23%. Adjusted gross profit and earnings per share rose by 34% and 31% respectively and more strong growth is promised for 2017.

Forterra FORT A strong second half performance resulted in both revenue and profit increases for the year to the end of December, its first year as a misted company. Profit before tax surged by some 75% from £22.2m to £37.1m. The outlook for the first half of 2017 is good, buoyed by strong activity from the major house builders.

Hikma Pharmaceuticals HIK claims that its business became stronger than ever in 2016, with group revenue rising by 39% and operating profit up by 14%, both in constant currency terms. A final dividend of 22 cents per share is to be paid making a total of 33 cents for the full year, a rise of 1cent. A significant increase in intangibles and exceptional items, led to reported operating profit falling by 9% in constant currency terms.

Somero Emterprises SOM enjoyed an excellent year in 2016 and is increasing its final dividend by 61%. Revenue for the year to the end of December rose by 13%, profit before tax by 22% and adjusted EBITDA by 23%. The company is excited about the prospects for 2017 with more strong growth expected.

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