Severn Trent plc SVT Not every company admits to being pleased at having to announce the sale of part of its business especially if that business is a strong one but Severn Trent is an exception as it announces the sale of its North American business. Even more strange the Chief Eexecutive admits that under Severn Trent’s management the North American business would not have been able to grow and flourish as it will under new management. Do I detect a great cheer from Severn Trents long suffering users, that at last the message may have begun to get home.
SuperGroup plc SGP enjoyed a super year for the 12 months to the 29th April with like for like retail sales growing by 12.7% and revenue up by 27.4%. Underlying profit before tax rose by 18.4% and the full year ordinary dividend is to be increased by 20.7% to 28p. For 2018 underlying profit before tax is expected to be in line with market expectations.
Trakm8 Holdings TRAK with new orders up by 37% on a year ago, shareholders may have something to look forward to after a dismal year to the end of March which saw profit before tax plummet by 77%, basic earnings per share by 66% and the disappearance of the final dividend. As is usual in these circumstances management seeks refuge and comfort in jargon, with strong new contract and extensions momentum and pipeline and opportunity. Back on planet earth revenues in the first two months of of the new financial year are up 10% on the first two months of last year. The Executive Chairman is confident of achieving a much improved performance in the current year