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Centrica CNA has issued a jargon riddled update, which believe it or not ends with the startling claim that the outcome for the year will be dependent on its operational and commercial performance. Well, well what a surprise. To cover itself all ways up it also adds to the list, the impact of an uncertain regulatory environment, weather patterns and commodity prices. Management skills are, it appears not included in the list as being likely to have any impact on the company, beneficial or otherwise. The year has however begun well, thanks to abnormally cold weather and despite unplanned outages in Morecambe Bay and production issues in Norway. Its core markets have been affected not just by intense competition but by “High level competitive intensity” which makes it sound really, really serious.
Diploma plc DPLM delivered robust growth in revenue and profits during the half year to the 31st March despite currency headwinds and is increasing its interim dividend by 10% to 7.7p per share.Adjusted earnings per share rose by 12% whilst revenue and profit before tax each rose by 8%. Currency movements caused revenue to fall by 4%. The Board believes that the company will continue with its excellent track record of value creation.
Eckoh plc ECK updates that the year to the 31st March ended with a robust balance sheet and a strong order pipeline. Good progress was made in the US where secure payment revenues more than doubled, although in the UK market conditions were more challenging. The company is looking forward to the introduction of European GDPR on the 25th May which could produce substantial opportunities in the UK and in the US where it appears thare will be widespread adoption of the new European regulations.
Angling Direct ANG achieved record revenue and profits during the year to the 31st January, a year in which it not only joined AIM but also went on the acquisition trail in a big way. Group revenue rose by 44%, gross profit by 37% and online sales surged by 54% compared to a rise in store sales of 40%. Like for like sales however gave a much more modest and realistic growth figure of 9%. A good start has been made to the current year, despite adverse fishing weather.
Access Intelligence ACC has in the last five months produced growth of £450,000 in net annual contract value compared to £0.2m in the the whole of the first half. October alone produced growth of £130,000. The success follows a decision to concentrate on establishing Vuelio as a flagship brand. New clients include household names such as Dyson, BMW, Thomson Reuters, Sellafield and Lloyds, on top of which, it has also captured over 50% of UK councils and universities and 85% of police authorities.
William Hill WMH updates that it has delivered a good financial performance so far during the second half. Net revenue from 28th June to the 24th October rose by 4%. The US led the way with a rise of 28% and UK online wagering came in with a 14% rose.
Mitie Group MTO has been busy transforming itself and building foundations during the half year to the 30th September but could not do anything to stop a large cut in the interim dividend which has been reduced to 1.33p per share, compared to last years 4p. Adusted basic earnings per share was down by 60% and reported operating profit fell by 38%.
Diploma plc DPLM Produced double digit growth in revenue and earnings in the year to he 30th September. Revenue rose by 18% and both profit before tax and basic earnings per share were up by 24%. Shareholders received their reward with a 15% rise in the interim dividend to 23p. per share. The CEO described it as another strong performance with contributions from all sectors of the group.
NEX Group NXG has, despite a 13% rise in revenue (7% on a constant currency basis) been forced to slash its interim dividend from 11.5p to 3.5p. per share after statutory operating profit for the half year to the 30th September fell by 29% and statutory earnings per share by 45%. The CEO says it is an agile company, with market leading products, investing in innovation and led by an experienced management team.
Petrofac PFC is slashing its interim dividend by 42% to 12.7 cents compared to last years 22 cents, despite what it claims to be a positive start to the year and a rise in net profit from last years US$12m to US$ 70m. for the half year to 30th June. The company is continuing to co-operate with the Serious Fraud Office which launched an investigation into the company in May. The second half of the year is expected to deliver an improvement in operating performance
Fisher (James) FSJ Underlying group revenue for the half year to the 30th June rose by 13% and underlying profit before tax by by 6%, giving a positive start to the year. The interim dividend is to be increased by 10% and there are indications of stronger growth with a good improvement expected in the full year results, following some recovery in maintenance work in the oil and gas sector.
Diploma plc DPLM continued to trade well in the second half of the year and group revenues for the year to the end of September are expected to increase by 17% of which 9% will come from the benefits of sterling depreciation and 2% from acquisitions. With a robust balance sheet the group intends to pursue its policy of acquiring new businesses to accelerate growth.
Paragon Entertainment PEL claims a ‘credible’ performance for the six months to the 30th June and that it has done what it set out to do. Unaudited results show a 45% rise in revenue, whilst underlying operating profit has rise from £106m. to £331m. Basic earnings per share more than tripled from 0.05p per share to 0.18p.
WH Smith SMWH updates that for the year to 31st August, its travel business has produced a strong performance and it has now opened its first three stores in Italian airports.
TUI AG TUI After a good start to the half year, TUI reiterates its forecast of at least 10% growth in underlying EBITA for the full year 2016-17.Half year turnover rose by 3.3% or 8.2% on a constant currency basis and customer numbers were up by 3%.
Victrex VCT delivered a strong first half performance in the six months to 31st March and is increasing its interim dividend by 4%. Sales volume in the first half rose by 5% and revenue by 12%, or 4% on a constant currency basis. Profit before tax rose by 5% and cash is up by 90% to £86m. The positive momentum is continuing into the second half.
Eco Animal Health EAH is likely to exceed market expectations for revenue and to exceed significantly those for pre tax profits for the year to 31st March.
Mortice Limited MORT Following strong growth in all parts of the business, it is anticipated that financial results for the year to 31st March will be materially ahead of market expectations. Revenue rose by 35% and the company sees tremendous scope for further organic and acquisitive growth.
Diploma plc DPLM is increasing its interim dividend by 13% after enjoying strong underlying growth boosted by currency tailwinds in the six months to the end of March. Adjusted profit before tax for the half year rose by 22% and adjusted earnings per share by 23%, with revenue up by 21%. Currency benefits from the weak pound are not expected to be as strong in the second half.
Dignity plc DTY has made a strong start to the year, with all parts of the business performing well in the first quarter to the end of March. average income has been robust and overheads are well controlled. Further acquisitions have been made and there will be more during the remainder of the year.