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Immarsat plc ISAT 2017 saw strong positive momentum, in fact so strong that it intends to reduce the level of annual dividend payments to 20 cents per share to ensure that it has sufficient financial resources. It will stay at that level until the cash flow of the business rebuilds enough to justify an increase. Group revenue for the year to the 31st December grew by 5.4% and EBITDA by 8% but the figures for quarter 4 were far worse with profit after tax down by 51.3% and EBITDA by 26.2%. Strong long term growth is anticipated in mobile satellite communications with mid-single digit % revenue growth expected on average over the next five years. No doubt shareholders will be hoping that this does not lead to further dividend cuts
GVC Holdings GVC adjusted profit before tax for 2017 rose by 182% and adjusted earnings per share nearly tripled from 0.19 Euro to 0.56 Euro. A second interim dividend of 0.175 euro per share is to be paid giving a full year increase of 13% to 0.34 Euro. A strong start has been made to 2018
Focusrite TUNE has seen first half growth in revenue, profits and cash, across a wide range of product groups and regions.Christmas trading was particularly strong and revenue for the half year is expected to have risen by over 25% to a total of 38m.
Clear Leisure plc CLP updates that its first data mining computers have now completed testing and its mining mobile units is ready to be shipped to its permanent home in Serbia and the first fractions of Bitcoins have already been extracted in ‘mining pool mode’. Delivery of low cost miner machines is expected within 10 days.A continuous daily stream of fractions of Bitcoin can now be mined.The results so far indicate that the joint venture with Miner One Limited will be able to produce more Bitcoin than initially anticipated and at a lower cost.
Photo-Me Intnl PHTM updates that the year to 30th April has been a year of excellent progress, with profit before tax expected to be at record levels after an increase of about 20% over 2016 which will enable the commitment to a 20% year on year rise in the ordinary dividend, to be met.
Investment in new products, growth of the laundry business, especially in Europe and that old friend, favourable currency movements, have all contributed to the success. The launch of the first ever laundrette in Japan, has proved to be a success.
Plus 500 Ltd. PLUS The positive trends evidenced in the first quarter have continued, Second quarter trading revenue has been stronger and margins have been maintained.
Inmarsat plc ISAT has announced that Quatar Airways Airways has become the first Middle East megacarrier to select its advanced new GX Aviation in-flight broadband solution, which will be initially available on 130 aircraft