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Ian Pollard – DX Group Begins To Deliver
DX (Group) plc DX The half year results for the six months to the 31st December reflected what the company describes as ” another challenging period” but the new management team has set the business on the road to recovery and long term profitable growth. Net new business in the last two months has been at a higher level than at any point in the last 12 months. The reported loss for the half year more than halved from £29.3m to £14.1m
Parkmead Group PMG Excellent progress was made in the half year to the 31st December with gross profits doubling from £0.7m to £1.4m. Oil and gas reserves increased by 67% and after maintaining strict financial discipline the company became debt free.
RPC Group RPC updates that the positive trend experienced in quarter 3 has continued and full year revenue since 1st April 2017 is expected to have grown significantly, both organically and by acquisition and with the help of foreign exchange tailwinds. The financial position remains robust.
3i Infrastructure plc 3IN claims that in the period from 1st October to 28th March its investment advisor has delivered outstanding value to shareholders. Stakes in Elenia and Anglian Water have been disposed of generating £1,120,000m. and enabling £425m to be returned to shareholders in cash by way of a special dividend. Four new investments have been made totalling £345m.
Ingenta plc ING proposes to increase its dividend for the year to 31st December by 50% taking it from 1p to 1.5p per share, after further progress was made in 2017, following on the successes of 2016.Operating profit rose by 29% and adjusted EBITDA by 8%. In the second half of the year results from the joint venture in China, showed considerable improvement.
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Ian Pollard – Dairy Crest Well Ahead
Dairy Crest Group DCG Total revenue for the nine months to he 31st December is well ahead of the previous year as key brands produced a strong performance with revenue growth of 7%. Spreads continued to gain market share.
Wizz Air Holdings WIZZ Revenue for the quarter to the 31st December rose by 24% and passenger numbers were up by 24.3% to 7.1m. Profit rose 3.6% to record levels but profit before tax was down by 56%. The fleet increased to 88 aircraft during the quarter. The airline is now the leading low cost airline in Central and Eastern Europe and opened its 145th destination at Athens.
3i Infrastructure 3IN The Board is delighted with the performance over the 3 months to the 31st December as exceptional value was generated for shareholders. Net Asset Value is expected to have increased by 15% to 199p per share, helped by the sale of of investments in two companies which brought in gross proceeds of over £1 billion. In addition the portfolio is delivering strong income and the target dividend of 7.85p per share for the full year is expected to be fully covered.
Centamin CEY saw profit before tax decline by 16% for the year to the end of December whilst earning per share fell by 49% and EBITDA by 13%. A fall in gold sales, a drop of 2% in revenue, increased costs and the impact of the first full year of profit share all contributed to the problems but a finl divi of 10 US cents per share is to be proposed.
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