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Carillon CLLN A full year trading update shows strong revenue growth and increased operating profits for 2016 and net borrowings down from the half year level. Margins in support services have also been strong. Despite this the new order intake slowed in the second half and current expectations are that the total value of new and probable orders will have fallen.
Numis Group NUM In a year where stock market performance was mixed, Numis produced the highest revenue in the the history of the group with a rise of 15% to £112m.. Profit before tax rose by 25% and earnings per share by 21%. At the year end in September cash balances and net assets both stood at record levels and the total edividend for the year is to be increased by 4%
Stagecoach Group SGC is increasing its interim dividend by 8.6% to 3.8p and says it is pleased with its performance in the midst of political and economic uncertainty. Statutory profit before tax for the half year to 29th October showed a very tiny fall from 90.8m to 89.5m but growth prospects for public transport in the UK and North America look good.
Redhall Group RHL saw its manufacturing order book rise by 109% in the year to the end of September and last years operating loss of £0.7m was turned into an operating profit of £0.9m. With a major reduction in losses from £12.2m to £1.7m the company’s turnaround prospects remain on track. No dividend is recommended.
Stagecoach Group SGC has announced the sudden disposal of its Megabus Europe retail operations to Flix Bus. It is not getting a single penny in cash and completion is at the end of this week. All it is getting is a loan note for an unspecified amount which it expects to be paid by the end of the year. Normally major companies do not dispose of a large part of their operations without some gaurantee that at the end of the day they will be getting paid a specific amount on a specific date. Perhaps the fact that losses at its european megabus operation soared by sixfold during the year from 4.2m to 24.1m. may have something to do with the unseemly rush to get out.
The company also admits that its bus and rail operations are beset by challenging trading conditions not only in mainland Europe but also in the UK and North America. In particular UK bus growth has been low and UK rail has challenges.
Total operating profit for the year to 30th April fell from 217.9m to 171.7 m. despite a rise in revenue of 20%. The one thing which is not challenged is the final dividend which is raised from 7.3p per share to 7.9p, making an increase of 11% for the year.
Greene King GNK had a transformational year in 2016 with group revenue for the year to the 1st May, up by 57.6%. Profit before tax followed suite with a rise of 60.6% and the dividend is to be increased by a modest 7.7%. revenue passed £2billion for the first time and the new year has started well, with a like for like sales rise of 2.8%.
Dixons Carphone DC. announces another year of significant earnings growth withgroup like for like revenue rising by 5% in the year to 30th april. Even southern Europe, long the laggard, managed 4% growth. Profit before tax rose by 17% and the final dividend is being inxcreased to to 6.5p making a 15% rise for the full year.
Costain (COST) is raising its final dividend by 16% after strong trading in 2015 saw underlying operating profit also up by 16%. The year ended with a record order book, 11 % up on 2014 and over 90 of which are repeat orders. The share price fell back from its September peak of 395p to 320p but has already climbed back to 357p with the RSI still under 60.
Empresaria Group (EMR) is raising its final dividend by 43% after producing record profit before tax, up 30%, for the year to 30th December. Earnings per share were up by 24% and net debt was down by 26% The company sees exciting opportunities ahead which it is confident will produce profitable growth. The shares which peaked at 106p had fallen back to 78p but have risen over the past 3 weeks to to 86p and have have been marked up a further 10% this morning which looks like it may have been a bit optimistic.
Stagecoach Group (SGC) confirms that lower second half growth in its UK rail and bus businesses has continued whilst business in North America has benefited from new contracts.
James Fisher (FSJ) – Diversity has helped James Fisher offset the sharp decline in offshore oil activity and as a sign of confidence in the future the final dividend is being increased by 8%. Swift action was taken to reduce costs in offshore oil which helped to limit the fall in group profit before tax to 6% despite overall revenue being down by 16%. The strength of the specialist marine and other divisions saw them increase their operating profit by 25%