Tesco TSCO claims it has stabilised the business, with overall like for like first quarter sales growth of 0.9%. Internationally it has steamed ahead with like for like growth of 3%. In Asia like for like sales were up by 3.3%, as against a year ago when they fell by 3.4%. Both Asia and Europe have now completed four consecutive quarters of growth. Even in the UK, where fresh food brands have been performing “very well”, there has been a big improvement, with growth of 0.3% after taking into account price deflation of 0.7%.
Prime People PRP expects softer market conditions for the remainderof 2016, with macro economic headwinds, turbulent emerging markets, other volatility plus that tried and tested favourite, the referendum,all being pulled out of the excuses drawer by a management which does not seem too sure of its ability to cope. as for the past, gross fee income for the year to 31st March rose by 25%, profit before tax by about a third from £1.44m to £2.15m and profit after tax by some 50% from £1.13m to £1.7m. The dividend remains unchanged.
Latham James LTHM is increasing its final dividend from 8.8p to 10.3p per share after what it describes as very good trading results. Group revenue for the year to 31st March grew by 6.3% leading to a rise of some 28% in pre tax profits. Earnings per share rose from 40.3p to 53.7p. For the first two months of the current year, revenue has risen by a further 4%.
Stadium Group SDM Following loss of a major customer which has decided to take manufacturing in house, growth and full year results are now expected to be below market expectations, despite profits in the second half being materially ahead.