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Sanderson Group plc SND Half year trading results to the end of March, are ahead of management’s expectations with revenue growing to approximately £17.0 million from last years £14.6 million and operating profit increasing by over 30% to £2.8 million from last years £2.1 million. Digital Retail has continued to perform strongly during the six months and achieved further double-digit revenue and operating profit growth.in The Manufacturing business sales orders grew by over 10%. The Board is confident that it will be able to maintain its progressive dividend policy.
System 1 Group plc Sys1 updates that its Consultancy business stabilised after a difficult 2017/18. Gross profit was down 1% for the year as a whole at £22m but Being 4% ahead in the second half, allowed it to generate underlying pre-tax profits for the year as a whole.
Serabi Gold plc SRB Reports another excellent quarter with a strong start made to 2019 and over 10,000 ounces of gold produced in the first quarter, keeping up the momentum from the end of 2018 and the second successive quarter with production above 10,000 ounces for the first time. Guidance for 2019 is maintained at production in the range of 40,000-44,000 ounces representing a significant improvement on 2018’s production of 37,108 ounces.
Filta Group Holdings plc FLTA continued to experience strong organic growth for the year to the end of December whilst, at the same time completing two strategically significant acquisitions, moved Filta into a market-leading position. Like for like revenue grew by 23% and like for like EBITDA by 25%. The proposed final dividend has been increased to 0.92p. per share on top of the interim dividend of 0.72p making a total increase for the year of 26%.
IG Design Group plc IGR The strong trading performance continued in the final quarter both delivering revenue and profit growth across all regions in the year to the 31st March.. The Board now anticipates that the financial performance of the Group will be be up significantly up year on year. The progressive dividend policy is expected to be continued earnings pay-out ratio is also expected to be increasesd at the full year.
easyJet plc EZY is not really looking forward with enthusiasm to its results for the six months which ended on the 31st March. Even for its winter period things look to have been difficult. Whilst revenue is expected to have grown by 7.3%, that was from seat capacity which was up by 14.5%, Revenue per seat is expected to have declined by about 7.4% Total headline costs in the first half are expected to increase by circa 18.8% due to increased capacity, higher fuel unit costs and a modest increase in cost per seat excluding fuel. easyJet is not backward in calling on Brexit to share the blame for its performance. Weaker customer demand which is being experience is blamed directly on macroeconomic uncertainty and “many unanswered questions surrounding Brexit”. Ticket yields in the UK and across Europe are also showing increasing signs of softness. All this uncertainty makes the company cautious about the future.Good to see that only external causes are to blame for the problems and they are nothing to do with management.
Sports Direct Intl plc SPD Mike Ashley has become so concerned for the future of other shareholders of Debenhams that he has written to the Debenhams Board in the hope that he can help it by demanding that it takes immediate steps to install him as CEO, The reason behind his thinking is that there is clearly no time to wait for a General Meeting to be called in order for this to be effected by shareholders. Giving shareholders their democratic rights, is it seems to be carefully avoided in some circumstances.
Codemaster Group Holdings CDM updates that trading through the second half of the year has continued to be strong. The Company anticipates reporting FY19 revenues of c.£71 million for the year to the end of March and adjusted EBITDA ,ahead of market expectations at .£18.5 million.
Bronhill Group BONH saw revenue rise to £8m compared to £2.6m for the year to the end of March 2018. Adjusted EBITDA increased to £0.9m from a loss of £0.4m and net assets jumped from £2m to £22.9m for the nine months to the 31st December. Arrangements are also under way for a maiden dividend to be paid for the six months to the 30th June.
Spectra Systems SPSY has excellent prospects for maintaining strong earnings in 2019.and expects the annual dividend to be increased by 17% for payment in June, after a rise in profit before tax of 19%. For the year to 31st December, net income rose by 24%, adjusted earnings per share by 11% and EBITDA by 16%.
Be Heard Group plc BHRD Despite a difficult start to 2018, which resulted in management changes becoming necessary, the year finished strongly with group revenue rising by 51% and like for like revenue up by 15%. Adjusted EBITDA increased by 90%. The operational loss for the year to 31st December came in at 9.7m but the company has now produced nine consecutive months of profitability up to February, with strong organic growth.
MediaZest plc MDZ has faced a difficult economic background since the interim results were announced on the 5th November. Accordingly the Board now expects the full year results for the year ended 31 March 2019 will be below current market expectations, although they will still be an improvement on the previous year. the Group’s trading results for the second half of the financial year (6 months to 31 March 2019) are expected to be lower than the first half of the year. A small loss after tax is now expected for the year end..New business , combined with recurring revenue contracts, will provide the Group with a base for further growth over the next 12 months.
Rotork plc ROR The CEO claims it is a very exciting period for Rotork as he sees 2018 profit before tax rise by 53.8%. He is executing a comprehensive plan to enable it to return to the levels of growth and margin performance previously experienced by the Group. Revenue rose by 11% in the year, basic earnings per share by 17.9% and the full year dividend is being increased by 9.3%. Slower growth is planned for 2019 because of macro economic uncertainty leading to slower sales especially in the first half.
Ted Baker plc TED Following last weeks results Chief Executive Officer Ray Kelvin, who founded the business 32 years ago has resigned with immediate effect .Mr. Kelvin took voluntary leave of absence from his role as CEO in December 2018, after allegations of misconduct were made against him, all of which he has denied. A strong and experienced team is now in place ready to build the Ted culture and move the business forward.
Senior plc SNR Sales increased to another record for the year to the 31st December with an 8% rise on a constant currency basis. On an adjusted basis profit before tax rose by 15% and earnings per share came in at 16 %, a year on year increase of 12.0% whilst the full year dividend is to be increased by 7%. The group is financially robust and expects to continue to make good progress.
Gfinity plc GFIN Revenue for the six-months to the end of December rose by 143% against the same period in the previous year but by only 3 % for the half year to June. Last years first half gross loss of £3.2m was turned into a gross profit of £0.5m. Adjusted EBITDA loss was £4.4m, a 39% reduction on the equivalent period in the prior year. The global e sports economy is predicted to break the $1billion barrier during the year and the group looks forward to a significant step change in its financial performance over the coming years.The company expects to reach break even by 2021.
National Express NEX is delighted to have again delivered a record-breaking set of results. Group revenue rose by 5.6%, profit before tax by 10% and basic earnings per share by 13.1%. It is again proposed to increase the final dividend by 10 per cent.. Growth in the UK was very strong at 12.6% compared to 6.4% in North America and a decline of 15.1% in German rail
CRH plc CRH 2018 was another year of record profit delivery, with basic earnings per share up by 33% and group profit by 31% for the year to the 31st December. Sales for the year rose by 6% and the final dividend is being increased by the same amount. For 2019 the US economy is expected to continue to advance at a similar pace to recent trends and with positive progress also continuing in Europe.
Mondi plc MNDI has produced a strong financial and a robust operational performance for 2018. Whilst revenue was up by only 5%, on an underlying basis EBITDA rose by 19%, operating profit by 28%, basic earnings by 27% and profit before tax by 25%. The recommended full year ordinary dividend of 76.0 euro cents per share, shows an increase of 23%
Bovis Homes BVS claims excellent operational progress and a 47% increase in profits for the year to the end of December. The first eight weeks of the new year have seen good demand with average sales per site per week up 15.7%. The Board is recommending a 20% increase in ordinary dividend for FY18 to 57.0 pence per share reflecting the strong performance and also its confidence in the outlook for the business. Further operational and financial progress is expected in 2019.
Hunting Titan HTG also delivered a record performance in 2018 as the US onshore market accelerated and sales volumes improved in other international operations. Ongoing commodity price and geopolitical volatility ensures that the company remains focused on the agility and flexibility of the business to respond to market conditions.
Howden joinery Group HWDN delivered another good performance in 2018 with sales increased by 7.7%, profit before tax up by 2.7% and basic earnings per share by 4.7%. The dividend is to be increased to 11.6p per share, a rise of 4.5%. Four new depots are to be opened in the Paris region but operations have ceased in the Netherlands and Germany from January 2019;
Victoria plc VCP decided to take advantage of difficult market conditions to pursue market share. The Board now recognises this impacted earnings this year and has unsettled some shareholders. It believes however that the strategy is in the best long-term interests of the Group and its shareholders and appears in effect to have told the shareholders to take a walk and has continued with the strategy. The Board believes markets are down 6-8% in the UK and Australia and flat in Europe but the Group has continued to grow overall like-for-like revenues and gained meaningful market share. The Group expects that the current-year to March 2019 EBITDA is likely to be £95m-£97 million a rise of nearly 50% over the year to March 2018 and the Group’s 2019 underlying pre-tax profits are expected to be around around 35-39% higher than 2018.
Reckitt Benckiser Gp plc RB claims that 2018 was a year of good financial progress, achieved in an environment of challenging market conditions. Pro-forma and LFL growth came in at 3%. plus 2% from volume and +1% from price / mix.The final dividend is being being increased to 100.2p, a rise of 3% and like for like net growth is targeted at 3.4% for 2019. The CEO says that the company is well positioned for long term, sustainable growth.
Angling Direct plc ANG expects to report revenue of £42.0 million,an increase of 38.9% for the 12 months to the 31st January compared to the same period in the previous year.In store sales showed an increase of 50% overall or 6.2% on a like for like basis. whilst online sales grew by 30.3%. International sales surged by 98% to £4.66m and now account for 20.9% of the Group’s online sales. with shipments going to 49 different countries, this success has delighted the board. The business has also now been structured in readiness for Brexit
Xpediator plc XPD confirms that it has achieved its growth objectives and recorded significant increases in sales and profits for the twelve months to 31 December 2018. Total revenues increased by 54% Import Services Logistics and Anglia Forwarding, both of which were acquired during 2018, contributed an additional 18% in revenue and added over 400 new customers. The Company’s Brexit team has been working closely with leading transport associations and port authorities to plan ahead. and will be able to support both exporters and importers post Brexit.
Safestore Holdings plc SAFE claims an excellent start to the financial year, with a strong first quarter performance, continuing the trading momentum seen in the second half of 2018 in both the UK and Paris markets. Group revenue from the 1st November to the 31st January rose by 6.% at constant exchange rates and on a like by like basis by 6.4%. Paris led the way on a like or like basis with a rise of 7.3% compared to 6.1% for the UK. Revenue for the quarter in Paris grew by 8.3 % following the opening of the new store in Poissy in summer 2018.
easyJet PLC EZJ confirms that it is in discussions with Ferrovie dello Stato Italiane and Delta Air Lines about forming a consortium to explore options for the future operations of Alitalia. In the words of the song there is no certainty at this stage that any transaction will proceed and easyJet will provide a further update in due course, if and when appropriate.
Money Supermarket.com Group PLC MONY made great progress in its Reinvent strategy in 2018 with profit after tax for the year to 31st December up by 11% and the ordinary dividend up by 6%. A good trading performance saw revenues up 8% and In 2019 it is intended to return an additional £40m to shareholders.
AVEVA Group plc AVV delivered low double-digit revenue growth in the first nine months of the financial year, following the pattern set in the first half. Software sales grew at a faster rate compared to services, resulting in a modest improvement in gross margins. Operating margins also improved, although some additional costs were incurred due to a better than expected sales performance.
Ashmore Group plc ASHM Profit before tax at £93.0 million, fell by 6% during the half year to the 31st December. The company described it as a respectable operating performance in the first half followed by a positive start to 2019. The investment performance remained strong and out performed by 30% over one year. Revenue growth of 13% was driven by 18% increase in net management fee income.
TUI AG TUI has seen its first quarter performance so impacted by accountancy adjustments that the figures have become virtually meaningless due to the first-time application of IFRS 15 and of IFRS 9 in the previous year. The best that that can be said is that performance has been in line save for markets and airlines which were weak and faced signs of headwinds.The summer heatwave was partly responsible for that together with overcapacity in Spain due to the shift in demand to the Eastern Mediterranean. The growth strategy however is said to be intact. Markets & Airlines must be something of a problem because the headwinds which are buffeting it get repeated mentions, one after another in the story of what appears to have been a not very satisfactory first quarter.
Plus 500 Ltd PLUS produced a record financial performance in the year to the 31st December, after an exceptional first quarter benefitting in particular from Crypto currency trading. It is expected that 2019 profit will be materially lower than current market expectations. The company describes 2018 as a momentous year, well ahead of original expectations with revenue up by 65%, EBITDA by 95%, earnings per share by 90% and dividends by 18%.
Touchstar plc TST benefitted from strong trading in the Transportation sector for the year to 31st December and. losses for the year will be considerably better than market expectations. Although turnover will be somewhat lower than expected this will be more than compensated for by higher margins and dynamic cash generation, has enabled the group to end the financial year with a healthy net cash position. the Board expects to see significant improvement in the Group’s performance in 2019.
Loop Up Group plc LOOP has traded strongly in 2018, with revenue in line with consensus expectations and profitability comfortably ahead. It was a year of transformational growth with new offices seen in Chicago, Dallas, LA, Atlanta and Madrid. Continuing strong demand is seen for the LoopUp product in 2019
Countryside Props plc CSP Total completions in the first quarter from the 1st October to the 30th December rose by 28 % and the forward order book by 78%. The strong growth in completions was driven by a sharp increase in affordable homes, up 52% and Private Rental Sector, up 66% . This was due to the acquisition of Westleigh. Broadly flat average selling prices at £395,000 with a 1% to 2% underlying increase, is not the sort of news which the housebuilding industry, likes to hear.
Restaurant Group plc RTN opened a record number of new sites in 2018 but saw like for like sales fall by 2% and total sales rise by 1%. Since the World Cup however the Group has delivered like-for-like sales growth and the Pubs business is continuing consistently to trade ahead of the pub restaurant sector and the Concessions business has also traded strongly. The company describes the year as a pivotal one which is hardly matched by the sales figures..
Biome Technologies plc BIOM saw 2018 group revenues show a rise of 42% over 2017.. Over 2018, sales of the non-woven filter mesh for the US single serve coffee market increased, together with other revenues, by more than 50%, The company’s portfolio of bioplastics applications are expected to contribute substantially to sales, particularly in the latter part of 2019.particularly, something known as the rigid ring project. A much higher performing disposable cutlery is another new product expected to be successful in the US. Revenues in the RF Technologies division for the year ended 31 December 2018 provided a 75% increase on the previous year. 2019 is expected to see a gradual but substantial increase in Bioplastics revenues.
Shield Therapeutics plc STX has entered 2019 in good shape with revenues for the year to 31st December 2018 expected to to have soared to. £11.9 million from 2017’s £637,000 and including the 11m. upfront payment received from Norgine on the signing of the licence agreement. Royalty income from Norgine during 2019, is anticipated to grow steadily based on sales in the UK and Germany,
Morrisons W. Sprmkts MRW If you do not know how to sell a pack of frozen peas, then you should not be on the board of a chain of supermarkets. Britains high streets are riddled with major retail outlets which are in a state of collapse and its Boards are littered with bankers, accountants and management experts with not a grocer amongst them. At Morrisons however the legacy of “our Ken” lives on and the company is leading the big guns of British retailing a pretty dance. Whilst they cry over their shelves of unsold peach and ratatouille consomme, Morrisons just get on with the job of selling goods which its customers want to buy in stores which they want to visit.
The result, Morrisons has just enjoyed its fourth consecutive Christmas of like for like sales growth. Total sales for for the nine weeks to 6 January rose by 4%. Customer satisfaction increased significantly and the price of its basket of key Christmas items remained the same as last year.
Greene King plc GNK is another company which got its festive hat perched at the right angle, as like for like sales over the last two weeks of Xmas and the New Year leapt by 10.9% compared to a rise of only 3.2% over the first 36 weeks of the financial year. It is accepted that the ongoing uncertainty surrounding Brexit may still have an impact on consumer confidence and spending during the year, but the company is confident of the outlook for the full year.
Safestore Holdings plc SAFE has announced its fifth consecutive year of double-digit earnings per share and dividend growth. Revenue for the year to the 31st October rose by 10.4% or 5.2% on a like for like basis and underlying EBITDA by 6.5%.The dividend has been increased from 14p to 16.2p per share, a rise of 16.1%. The company says that the start to its current financial year has been encouraging.
SIG plc SHI faced challenging market conditions and lower trading revenues in the second half of the year, particularly in December. Group like-for-like revenues were down 2.3% over the full year, with the UK and Ireland being particularly badly hit with a like for like fall of 5.7%.