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Begbies Traynor BEG claims that a winter of discontent has impacted business with 481,000 now in significant financial distress. Those in ‘critical’ financial distress increased by 25% year on year as the year came to a slow end and stand at 2,183. Real estate was the hardest hit sector in quarter 4 with a 9% increase. The retail industry should, it forecasts, be braced for a tough start to 2019 after poor Christmas trading from M&S and Debenhams. Link here to a detailed article by Begbies Traynor Regional Partner Julie Palmer
Wizz Air Holdings WIZZ describes its third quarter performance to the 31st December as solid, with profits for the quarter collapsing by 87.6%. Fear not however as full year profit guidance is maintained. Passenger growth during the quarter was 15% and revenue 21%. A new carry on bag policy saw revenue per passenger rise by 7% and means that passengers now get the injured backs instead of the baggage handlers. Like all low cost airlines it is having to face the challenging industry-wide operating environment
Solid State plc SOLI updates that trading results for the year ending 31 March 2019 will now comfortably exceed current market consensus guidance. Revenues are expected to be above current guidance and adjusted profits significantly ahead. The strong demand seen in the first half has continued into the second half and the Value Added Distribution division has is now expected to deliver results well ahead of management’s previous expectations.
Ingenta ING is now leaner and focussed on delivering first class services to all its customers claims the CEO, meaning it is significantly better placed to propel the business through the next stage of its growth. The Board confirms its intention to pay a dividend of 1.5 pence per ordinary share for the 2018 financial year.
Staffline Group STAF announces that publication of the results for the year ended 31 December 2018 has been delayed and a further update will be provided as soon as possible.
Rhythm One plc RTHM confirms that it is in advanced discussions with Taptica International Limited (“Taptica”) regarding a potential all-share offer for RhythmOne by Taptica.
Inspired Energy INSE expects to announce another strong set of results, delivering good growth in revenue, profits and cash for the year to the end of December. Group revenues are expected to be approximately 21 per cent ahead of 2017 with revenue growth expected to be approximately 29% ahead
Wizz Air Holdings WIZZ opened six new routes in June and took delivery of 4 brand new A320 family aircraft, taking the flee to 102. Seat capacity increased by 20.5% over June. 2017 whilst passenger numbers rose by 21.8% and load factor was up by 1pp to 93.3%
RM plc RM The first six months to the 31st May has seen good progress in each of the three divisions with revenue rising by 33.1% and statutory operating profit up by 78.4%. The interim dividend is to be increased by15% and the Board is confident of at least meeting full year expectations.
Andalas Energy ADL The appointment of a New CEO and a new Chairman resulted in the imposition of greater financial discipline during the year to the 30th April The operating loss was reduced by 73% to $1,161,000 from 2017’s $4,317,000. The company has reviewed its operations and restructured its business.and claims it is now in a good position to reap the benefits of its new strategy.
Solid State plc SOLI delivered a combination of strong organic revenue growth and strategic re-organisation in the year to the 30th April. Revenue rose by 16% but adjusted operating profit fell by 4%. During the first two months of the financial year the order book was strong and as at the 31 May stood at a record level of £23.0m, up 11% on the previous year. The dividend remains unchanged at 12p. per share.
Big Sofa Tech Group BST has continued to build on the positive momentum achieved in 2017 and In the first half of 2018, the order book reached nearly £1 million, a 91% increase over the first half of 2017
Cohort plc CHRT improved its performance during the year to the 30th April and adjusted operating profit rose by 8% to record levels, despite a large fall in the order book from £108.6m. to £76.6m. which the company says was due to delays rather than “losses or lack of opportunities”. . Adjusted earnings per share rose by 7% and the dividend is to be increased by 15%