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Whitbread plc WTB is increasing its full year dividend by 6% after another year of strong sales and growth. Revenue for the year to 2nd March rose by 8.2% and underlying profit before tax by 6.2%. On a like for like basis revenue at Premier Inns increased by 2.3% after achieving an occupancy rate of over 80%. 3816 rooms were added during the year. Costa grew by 2% on a like for like basis and opened 255 net new stores worldwide. However a tougher consumer environment is foreseen for 2017, although Premier Inns has made a good start to the new financial year and Costa has continued to see like for like sales growth.
Minds & Machines Group MMX saw an increase of 159% in gross profit for the year to the end of December, after growth of 100% in billings and 146% in revenue. Operating costs fell by 46%. EBITDA was transformed from a loss of $4.4m in 2015 to a positive $3m. There is still significant scope for revenue and billing improvements and the size of the Board was reduced from seven to four.
Elementis ELM enjoyed strong demand in most markets, exceeding that of the first quarter of 2016. Growth in Personal Care and in Energy was notably stronger than last year. for the remainder of the current year all 3 sectors are expected to produce growth in operating profits.
Imaginatik plc IMTK claims good underlying progress for the year to the end of March, with flat revenues and bookings down some 25% from £4.7m to £3.6m. The strong dollar resulted in a foreign exchange loss of £0.23m and net of that. the adjusted loss after after tax will be basically in line with expectations at £0.55m. New business opportunities for 2017 are said to be strong.
EU Supply plc EUSP reduced its loss before interest and tax by 42% for the year to 31st December and actually moved into profit in the final quarter. New contrcts entered into in 2016 helped to establish a profitable platform for growth and generated a strong order book for the start of 2017