HSBC Holdings HSBA claims that 2017 produced good results which demonstrate the strength and potential of HSBC and, believe it or not, it is simpler, stronger and more secure than it was in 2011.If that is the best it can find to say about itself that is not a rosy picture. Adjusted profit before tax rose by 11% and reported profit before tax by 141 %. The final dividend has been maintained and the group has benefited from 1% of positive adjusted jaws which should please everyone who enjoys jargon. Significantly I can not find in the report a single mention of service or customer care, although plaudit upon plaudit is heaped on senior management for the sterling work it is said to have done during the year. HSBC has also agreed to pay over $100m dollars by way of settlement of a US criminal investigation into rigged currency transactions in which its excellent senior management involved it.
Dunelm Group DNLM is increasing its interim dividend by 7.7% for the half year to the 31st December, after like for like sales growth of 6% and total growth of 18%. Online sales grew by 50% or 36.8% on a like for like basis. Underlying basic earnings per share fell by 6.6% as against a rise of 1.8% on a reported basis, whilst underlying profit before tax fell by 8% compared to a tiny rise of 0.7% on a reported basis. The company is pleased that it continued to gain market share in a static homeware market.
Tracsis Group TRCS trading across all parts of the business was strong in the six months to the 31st January and comfortably ahead of the previous year. Revenue rose from £15.6m to £18m and EBITDA was up by 25%. The completion of two acquisitions on the 1st February are expected to lead to further growth
Lighthouse Group LGT delivered an excellent set of results for 2017 with profit before tax rising by 32%, in celebration of which it is increasing the final dividend from 18p per share to 30p.representing an increase of 55% for the full year after taking into account the increase in the interim dividend from 9p. to 12p. Revenue for the year grew by 13% and EBITDA by 27%.
Synectics plc SNX is increasing its final dividend by 50% to match the rise in profit before tax also up by 50%, despite revenue for the year to 30th November remaining static and a fall in the year end order book.
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