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Stagecoach Ups Dividend As Profits Disappear

Stagecoach Group SGC Does not expect to be profitable until 2019 so it is playing safe and to make sure that shareholders do not get too angry is raising the dividend for the year to 29th April by 4.4% to 11.9p per share. Basic earnings per share for the year fell from 17.1p to 5.5p and profit before tax on a statutory basis slumped from £104.4m to £17.9m. The company is now trying to focus on sustainable growth for the long term.

Dixons Carphone DC claims a good result for the year to 29th April, with a rise of 10% in headline profit before tax. On a statutory basis profit before tax rose from £263m. to £386m and basic earnings per share from 14p to 25.6p. The final dividend is to be increased to 7.75p. per share making a total increase for the year of 15%

Petra Diamonds Ltd. PDL Financial results for the year to 30th June will be below market expectations following a fall in production to 4.4m carats some 6.9%. lower than previous guidance. Despite this Petra is still on track to achieve record revenue and production for the full year as well as expecting to reach its target of 5m carats, a year earlier than planned.

Bunzl plc BNZL expects group revenue for the six months to 30th June will have grown by 7% at constant exchange rates, half of which will come from underlying growth and half from acquisitions. Exchange rate movements will provide a 12% benefit. Bunzl also announces that it has acuired a further three companies in Spain and Canada as part of its strategy for growth

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