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Corporate news review Monday 14th August 2017
Clarkson Plc CKN reports a strong half-year performance, with underlying PBT up 25% at £21.9m, on revenues up to £156.8m (2016: £147.2m). Underlying EPS grew 9% to 57.5p, and CKSN has a robust balance sheet, with £71.4m of net funds, up from £46.7m this time last year. CEO Andi Case says the solid cash position means that irrespective of market conditions, CKSN can invest in the business for future growth, and the company is in a good position entering H2.
DX Group DX. / John Menzies MNZS – Merger discussions have been terminated. While the respective Boards believed that the proposed combination had strong strategic logic for all stakeholders, the DX Board has been unable to agree suitable terms.
EVR Holdings EVRH says its subsidiary MelodyVR Ltd has entered into a music licensing agreement with ARESA GmbH, the Anglo-American Rights European Service Agency. EVRH CEO Anthony Matchett said the agreement with ARESA “further enhances our opportunities for the distribution and monetisation of our vast library of content and further extends our market-leading position as the world’s only licensed VR music platform.”
Tracsis TRCS says group trading for the year has been in line with market expectations, with revenues in excess of £34m (2016: £32.6m) and good trading experienced throughout all parts of the business. EBITDA & adj PBT are in line and also ahead of the previous year (2016: EBITDA £7.6m, APBT £6.9m). TRCS remains debt free and highly cash generative.
International Greetings Delivers 250% Dividend Increase.
International Greetings IGR A final dividend of 1.75p., ahead of market expectations, brings the year’s total to 2.5p. a rise of 250% on the previous years 1p. Year on year growth in all regions, is again ahead of expectations, with both the UK and China producing record sales. And for once, we have a company which feels strong enough to boast that it has beaten off the challenges of foreign currency headwinds.
Centrica CNA claims to be on track to meet its 2016 targets, such as reducing its “headcount” by 3,000, getting its customers to like it a bit more than they have done previously and seeing UK Business return to profitability.
Reckitt & Benckiser RB A weaker flu season in the US and Russia impacted sales and created challenging market conditions. Despite that, first quarter like for like sales rose by 5% with both Harpic and Dettol doing well in India.
Amur Minerals AMC delivered over 500 tonnes of supplies along its 350 km. ice road between the 1st March and 9th April, enabling it to double its drilling capacity for the coming season.
ULS Technology ULS expects its full years results will exceed market expectations with a rise of about 28% in revenue and 31% in adjusted profit before tax. The order book is well ahead of this same point last year. The company predicts that strong growth will continue and that the dividend for this financial year will be in line with its progressive policy.
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