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In the absence of very much company news, the main story this morning must be the Prime Minster’s sudden realisation that the working class is alive and kicking. So, she is actually off slumming it to the North East with the intention of finding it and meeting some of its members, so that she can explain that they have been deserted by Labour. No doubt sales of cloth caps will have boomed as these relics of Victorian times don appropriate dress, rehearse the long forgotten practice of forelock touching and stuff their best whippet down their trouser leg. Reet lads whippets out and off back down the shipyards to check on the rust.
It just goes to show how mislead we have been about what was supposed to be a classless Britain. What a picture it portrays of our Prime Minister, her ignorance and her real attitude to the plebs. What an admission of how out of touch she is. She must be one of the few person in the country who believe that the working class not only still exists but votes Labour as well.
Has she has forgotten that Harold McMillan abolished the working class some 60 years ago and in so doing created a new modern Tory party. Do those living in the Tory heartland really look down on those who earn a living by getting their hands dirty. Theresa May lis completely out of touch even with her own party. More idiocy like this and she will make Jeremy Corbin look competent and throw away her chances of remaining Prime Minster after the election.
And now for a bit of business news.
Hydrodec HYR revenue for the year to 31st December grew by over 100% as the Canton plant was fully recommissioned. At the same time administrative expenses fell by 44%. The result was that in quarter 4 the group became EBITDA positive, a trend which is expected to continue throughout the current year. The overall loss for 2016 fell sharply from $31.1m to $7.8m
Filtronic FTC Fourth quarter trading has been ahead of management expectations and group revenue for the year to the 31st May is now expected to reach £35m.
Gemfields GEM admits to mixed results for the quarter to 31st March, in a market where demand for coloured gemstones continued to increase and the sector itself, strengthened. Exceptionally heavy rainfall was only partly to blame. Lower production at Kagem and Monetpuez was a problem. Production of ore and Beryl and Emerald stones in the March quarter was the lowest for nearly two years and lower even than Decembers figures.