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Alan Green and John Woolfitt, Director at Atlantic Capital Markets discuss the month ahead.
We discuss the US Fed August meeting, and indications from Fed boss Jerome Powell that the administration was prepared to ride with higher inflation around 2%. The markets seems to translate as low interest rates for years to come…John gives his view.
John discusses the resilience of mining and commodity stocks in the face of the economic turmoil and Coronavirus threat, along with some of the trading calls from Atlantic over the past month.
Finally we look at some trading ideas and upcoming corporate news in September from Halfords #HFD, Meggitt #MGGT, JD Sports #JD, Travis Perkins #TPK, Tullow Oil #TLW and Costain #COST. Given the volatility in the markets, John advises using the Atlantic Alerts system – moving after the results not before. “If the tide goes out, make sure you’ve got some shorts on”.
Paddy Power Betfair PPB Somebody at PPB thinks it is a good idea to rename the company Flutter Entertainment plc and hopes that the shareholders will be silly enough to give approval, when they are asked to do so in May. In February the company took podium position (as it calls it ) in Georgia with the acquisition of Adjarabet. As for the year to 31st December revenue rose by 9% and earnings per share fell by 6% whilst the the dvidend remained flat at 200p. per share. 2018 was a challenging year with regulatory and tax changes but Paddy Power regained its mojo, which management seems to regard as a good thing. 2019 has started with good momentum across key divisions
Costain Group plc COST announces it has performed strongly again in 2018 with an increase in underlying operating profit, a record order book and an 8% increase in the total dividend. The Chairman states that Costain is at the forefront of the rapidly-evolving UK infrastructure market. The record order book of £4.2 billion was of a higher quality and the growth in underlying profit reflected enhanced margins.
Legal & General Group LGEN Revenue for the year to the end of December rose by 9% and earnings per share fell by 6% whilst the dividend remained flat at 200p per share. Annuity sales rose to a record £10bn, operating profit rose by 10%, profit after tax fell by 3% and profit before tax rose by 2%. having impacted by of volatility in global financial markets. Its market leading businesses and high quality people have enabled LGEN to deliver eight years of compound annual profit growth of over ten per cent.
Allergy Therapeutics plc AGY Interim Results for the six months ended 31 December 2018 showed continued good sales growth and strong operating profit. Revenue increased by 10.6% and pre-R&D operating profit grew by 27%. This reflects a strong start to the financial year with market share in Germany increasing to 14.5%. The clinical pipeline is described as exciting making 2019 a very important year for the Group.
Costain COST Produced a strong performance in the year to the end of December and is raising the years total dividends by 15%, with a final payment of 8.4%. Annual revenue rose from £1.3b to £1.7b and reported profit before tax was up from £26m to £30.9m. The forward order book stands at record levels.Watch Full Movie Online Streaming Online and Download
Fisher (James) FSJ enjoyed strong growth in 2016 with rises of 11% in underlying profit before tax and earnings per share and the final dividend is being increased by 10%. The company entered 2017 with a strong order book. Currency gains played only a limited part in the growth. With its wide spread of businesses across multiple sectors of the marine services market Fisher was also able to offset the downturn in the oil and gas sector.
BBA Aviation BBA produced a strong performance in 2016 with revenue rising by 25%, EBITDA up by 59%, operating profit by 60% and profit before tax by 60%. Exceptional items such as the previously reported accounting impairment meant that on a statutory basis, the outcome for the year was a loss of over $82m but as a sign of confidence in the future the final dividend is being increased by 5%.
Empresario Group EMR Produced record profit before tax, up by 11% and adjusted earnings per share up by 14% in the year to 31st December. Revenue rose by 33% and the final dividend is being increased by 15%. Further exciting opportunities are seen to deliver increased profits in 2017
Dr David Paul of VectorVest discusses KAZ Minerals (KAZ), Costain Group (COST), Robert Walters (RWA) & Defenx (DFX) on IG TV.
Dr David Paul of VectorVest discusses KAZ Minerals (KAZ), Costain Group (COST), Robert Walters (RWA) and Defenx (DFX) with Jeremy Naylor on IG TV.
Costain Group COST is enjoying exciting times as the countries energy, water and transport infrastructure continues to be upgraded. The interim dividend is to be increased by 15% to 4.3p after revenue for the half year to 30th June rose by nearly 25%. The half year ended with a record order book, 90% of which was repeat business.
Paddy Power Betfair PPB Online half year revenue rose by 20% and total revenue by 18%. merger integration is ahead of plan but merger related items led to an operating loss of £48m. and a loss per share of 68.3p Underlying operating profit however was up by 39% and underlying EBITDA by 31%. an interim dividend of 40p per share is to be paid.
WPP plc WPP After exceptional write downs interim profit before tax slumped by 40.1% and profit after tax by 53.1%. On a headline basis however, reported PBT was up by over 15%. Billings rose by 9.3% and revenue by 11.9%. Like for like net sales grew by 3.8% and the interim dividend is to be raised by 22.9% to 19.55p.
Headlam Group HEAD enjoyed a strong first half to the 30th June and is increasing its interim dividend by 11.7% to 6.7p.It made further gains in market share in the UK where it outperformed and saw an improving trend on the continent. Profit before tax rose by 22.4% and basic earnings per share by 23.1%
Hikma Pharmaceutical HIK claims a solid first half performance which saw operating profit fall by 27% on revenue up by 28%. Basic earnings per share were down by 49% and the interim dividend is being maintained at 11 cents per share.
Goldplat GDP has put in a strong financial performance for its year end at the 30th June thanks to the recovery in the price of gold and the collapse in sterling. A full year profit before tax of £2m. is now expected.
Costain (COST) is raising its final dividend by 16% after strong trading in 2015 saw underlying operating profit also up by 16%. The year ended with a record order book, 11 % up on 2014 and over 90 of which are repeat orders. The share price fell back from its September peak of 395p to 320p but has already climbed back to 357p with the RSI still under 60.
Empresaria Group (EMR) is raising its final dividend by 43% after producing record profit before tax, up 30%, for the year to 30th December. Earnings per share were up by 24% and net debt was down by 26% The company sees exciting opportunities ahead which it is confident will produce profitable growth. The shares which peaked at 106p had fallen back to 78p but have risen over the past 3 weeks to to 86p and have have been marked up a further 10% this morning which looks like it may have been a bit optimistic.
Stagecoach Group (SGC) confirms that lower second half growth in its UK rail and bus businesses has continued whilst business in North America has benefited from new contracts.
James Fisher (FSJ) – Diversity has helped James Fisher offset the sharp decline in offshore oil activity and as a sign of confidence in the future the final dividend is being increased by 8%. Swift action was taken to reduce costs in offshore oil which helped to limit the fall in group profit before tax to 6% despite overall revenue being down by 16%. The strength of the specialist marine and other divisions saw them increase their operating profit by 25%