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easy Hotel plc EZH Strong trading experienced in the previous year has continued through the year to the end of September. The groups owned hotels have significantly outperformed both the competition and the wider OK hotel market. Franchised hotel have also traded strongly especially in continental Europe.In 2018 four new owned hotels will be opened adding a total of 517 rooms, whilst new franchised hotels due to be opened will add a further 798 rooms.
Sopheon plc SPE The board now expects revenue for the year to he 31st December will be comfortably ahead of market expectations whilst EBITDA and pre tax profits should be significantly ahead.This follows two substantial deals in the final quarter leading to an increase from 49 to 59 in licences for the year as a whole.
James Halstead plc JHD Turnover for the half year to the 31st December rose by 5% to record levels after strong December trading in the UK, Germany and Australia
Utilitywise UTW Trading in the company’s shares will be temporarily suspended at 7-30 this morning as it will not be able to publish its annual audited accounts by the end of this month. The delay is due to the amount of work involved in its new revenue recognition policy and the suspension will be lifted as soon as it is able to publish its results.
Telit Communications TCM has received expressions of interest from numerous parties with regard to the proposed sale of its automotive division and due diligence is now being undertaken. There is no intention of selling any other divisions or activities.
Defenx DFX confirms that revenues for the year to 31st December will be materially below those of the previous year resulting a significant loss for 2017. The appointment of a new CEO in November has resulted in progress being made in solving the company’s problems but difficulties remain in collecting in trade debts and collections have been limited during the last three months.
Smiths Group SMN The interim report for the half year to the end of January is confusing and obscure. Thus headline, in line, underlying, reported revenue rose by 18%. Headline, underlying, reported operating profit rose by 8% and headline basic earnings per share were up by 30%. Despite flat sales, underlying pre tax profit grew by 10% and the proposed interim dividend is to be increased by 2.3%.
Believe it or not, all this is called “running the business better” which produced declines in revenue and profit at Smiths Medical and at John Crane. But it is not quite clear whether in fact they may mean declines in revenue and profit growth, which is an entirely different matter. Whichever way one reads it the claim at the end of the same paragraph that John Crane showed “a modest return to growth” appears to completely contradict it. Presumably they know what it means.
As for 2017 Cranes first-fit end markets are expected to remain tough. Sales growth is anticipated at Smith Detection and if the decline in sterling does not change then that will provide an added tailwind.
easyHotel plc EZH Revenue growth for the 5 months to the 28th February slightly exceeded the boards expectations, with like for like revenue growth of 19%. Owned hotels materially outperformed. Eight new hotels are to be opened in the current year of which four will be owned and four will be franchised.
IG Design Group IGR updates that record revenues for the year to the end of March will lead to profit after tax and earnings per share for 2017 being significantly ahead of market expectations. Growth in America was particularly strong but Australia was challenging and a robust performances in the UK helped to offset currency headwinds.