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Ian Pollard – Reckitt Benckiser #RB Impacted By Weak Cold & Flu Season
Paddy Power Betfair PPB updates that the first quarter to the 31st March was a good one with total revenue up by 17%, led by gaming with a rise of 26%.Online revenue performance at Sports was affected by unfavourable results in both the UK and Ireland. Australia is described as having had a very strong quarter, whilst from the US huge progress is reported.
Smith & Nephew plc SN has made a good start to 2019 across the whole of the company. Underlying revenue growth for the full year is expected to be in the upper half of the guidance range of 2.5% to 3.5%.Mid-teens growth from the Emerging Markets, A strong quarter in China was accompanied by Mid-teens growth from Emerging Markets. First quarter revenue of $1,202 million saw growth 4.4% and all three global franchises accelerated, with growth ahead of 2018.
Rolls Royce Holdings plc RR updates for its AGM that it has continued to make progress with its restructuring programme. The market environment is healthy, with strong order intake at Power Systems, good flying hour growth in Civil Aerospace and positive order momentum in Defence. Costs are being brought down and engineering efficiency is being improved
Fisher (James) FSJ reports for its AGM that its first quarter financial performance at its Tankships and Offshore Oil divisions in the first quarter. is well ahead of last year. The pipeline of opportunities in its Specialist Technical remains strong. With a good start to 2019 the outlook for the year remains positive and the company is well placed for further growth.
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Ian Pollard – Ferguson #FERG Restructuring for UK After Weak Performance
Ferguson plc FERG Ongoing revenue for the quarter to 31st October.was 5% ahead of last year, including 6.7% organic growth, whilst ongoing trading profit at $432m. was 9.9% ahead. US business saw organic revenue growth of 9.6% . All the US business units generated organic growth in the quarter with continued good demand from residential and commercial customers an. Industrial markets described as growing very well. The UK on the other hand could not have been a geater contrast with like-for-like revenue growth down at 1.5% for the quarter including about 2.5% price inflation. Trading profit was down about 2% and ominously the promised UK restructuring is now under way.
IG Group Hldngs plc IGG expects first half revenue to be around 6% lower than in the record first half of the last financial year. Group revenue in the four month period since product intervention measures came into force in July is expected to be around 10% lower than a year ago.whilst in the ESMA region (UK and EU) it is expected to be around 20% lower. By startling contrast it is expected that in other regions revenue is expected to show growth of 9%.
Victrex plc VCT Preliminary results for the year to the 30th September show that the group enjoyed a strong year with group revenue up by 12% and profit before tax by 15%. Regular and special dividends are being raised by 17%. For 2019 the expectations are for continued momentum and the achievement of more milestones.
James Fisher & Sons plc FSJ for many a year one of the stalwarts of British Industry and which updated only 10 days ago that revenue for the ten months ended 31 October was 14% ahead of the comparable period last year, is to lose its long standing Chief Executive. Nick Henry has informed the Board that he is to retire from the Company after 16 years and step down after 15years as CEO by the end of December 2019.
Mind Gym MIND After a successful IPO revenue for the six months to the 30th September has risen by 13% and adjusted profit before tax by 31%. An interim dividend of 0.8p er share is to be paid. After a start-up at a kitchen table 18 years ago the company has grown to become an adviser to over half of the companies in the FTSE-100 and S&P-100.
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Ian Pollard: Smith & Nephew Impacted By Weak First Quarter
Smith & Nephew SN has produced a mixed performance for the quarter to the 31st March with revenue rising by 5% including currency benefits of 5%. Softer markets and a slowdown in Bioactives were offset by stronger growth in emerging markets which showed a rise of 15% on a reported basis. The trend is expected to improve over the remainder of the year but full year guidance has been impacted by the effects of the weak first quarter and underlying revenue growth is expected to be in the range of 2-3%
Centamin CEY A rise of 23% in first quarter revenue led to a surge of 122% in profit before tax for the quarter compared to a year ago although compared to the previous quarter there was a fall of 17%. Gold sales rose 14% year on year and the results were also helped by a 9% rise in the average price of gold over the year.
James Fisher & Sons plc FSJ Trading for the year so far has been in line with management expectations and offshore oil has been showing signs of recovery. All four divisions appear well set and the outlook for the year is positive.
Johnson Service Group JSG expects full year results will be slightly ahead of current market expectations. Following the substantial growth seen in 2017, trading in the year to date has continued to be strong.
Wizz Air Holdings WIZZ April passenger numbers rose by19% and the load factor for April rose to 90.9%. Six new routes were opened and operations were commenced at 2 additional airports. Three brand new Airbus A 320s were added to the fleet bringing it to a total of 96 aircraft. Wizz has also been named European Airline of the year.
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Petrofac slashes interim dividend by 42%
Petrofac PFC is slashing its interim dividend by 42% to 12.7 cents compared to last years 22 cents, despite what it claims to be a positive start to the year and a rise in net profit from last years US$12m to US$ 70m. for the half year to 30th June. The company is continuing to co-operate with the Serious Fraud Office which launched an investigation into the company in May. The second half of the year is expected to deliver an improvement in operating performance
Fisher (James) FSJ Underlying group revenue for the half year to the 30th June rose by 13% and underlying profit before tax by by 6%, giving a positive start to the year. The interim dividend is to be increased by 10% and there are indications of stronger growth with a good improvement expected in the full year results, following some recovery in maintenance work in the oil and gas sector.
Diploma plc DPLM continued to trade well in the second half of the year and group revenues for the year to the end of September are expected to increase by 17% of which 9% will come from the benefits of sterling depreciation and 2% from acquisitions. With a robust balance sheet the group intends to pursue its policy of acquiring new businesses to accelerate growth.
Paragon Entertainment PEL claims a ‘credible’ performance for the six months to the 30th June and that it has done what it set out to do. Unaudited results show a 45% rise in revenue, whilst underlying operating profit has rise from £106m. to £331m. Basic earnings per share more than tripled from 0.05p per share to 0.18p.
WH Smith SMWH updates that for the year to 31st August, its travel business has produced a strong performance and it has now opened its first three stores in Italian airports.
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More Strong Performances & Growth from British Industry
Costain COST Produced a strong performance in the year to the end of December and is raising the years total dividends by 15%, with a final payment of 8.4%. Annual revenue rose from £1.3b to £1.7b and reported profit before tax was up from £26m to £30.9m. The forward order book stands at record levels.Watch Full Movie Online Streaming Online and Download
Fisher (James) FSJ enjoyed strong growth in 2016 with rises of 11% in underlying profit before tax and earnings per share and the final dividend is being increased by 10%. The company entered 2017 with a strong order book. Currency gains played only a limited part in the growth. With its wide spread of businesses across multiple sectors of the marine services market Fisher was also able to offset the downturn in the oil and gas sector.
BBA Aviation BBA produced a strong performance in 2016 with revenue rising by 25%, EBITDA up by 59%, operating profit by 60% and profit before tax by 60%. Exceptional items such as the previously reported accounting impairment meant that on a statutory basis, the outcome for the year was a loss of over $82m but as a sign of confidence in the future the final dividend is being increased by 5%.
Empresario Group EMR Produced record profit before tax, up by 11% and adjusted earnings per share up by 14% in the year to 31st December. Revenue rose by 33% and the final dividend is being increased by 15%. Further exciting opportunities are seen to deliver increased profits in 2017
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Punch Plays Cards Close To Its Chest
Punch Taverns PUB Todays trading statement for the year to 20th August omits virtually any mention of its trading statistics It says it has produced a solid set of results following completion of its strategic disposal programme but fails to back that up with any meaningful figures, save to say that average profit per pub has risen by 4% and like for like net income from the core estate is up by 1% and the retail divisions 97 pubs are operating ahead of expectations. No doubt all will be revealed in the fullness of time.
Churchill China CHH produced yet another strong performance with profit before tax up by 29% for the half year to 30th June. Group revenue rose by 12% and basic earnings per share by 30%. The interim dividend is to be increased by 12%.
Fisher (James) FSJ is definitely ex growth for the time being , although that has not stopped it raising the interim dividend by 10% and it does expect to see growth resume in the second half, with new contracts and good demand for ship to ship services. Group revenue for the half year to the 30th June was down by some 2% and statutory profit before tax declined slightly from £17.9 to £17.4m. Strong growth was experienced in Marine Support, Tankships and Specialist Technical but this was offset, perhaps not surprisingly, by poor results from Offshore Oil.
HSS Hire Group HSS produced revenue growth of 13.5% in the half year to 2nd July and adjusted EBITDA rose by 11.1% which all helped to bring down the loss before tax from £14.1m to £9.8m and most of that, says the company, was due to what it euphemistically calls “strategy execution”. The interim dividend remains unchanged and the third quarter has started off ahead of last year.
Chemring Group plc CHG Revenue in the three months to the 31st July rose by 20% and the order book was up by 12.6% but £50m of this was due to the collapse of sterling which defintely did not help the company’s US dollar debt.
Surgical Innovations SUN Revenue for the six months to 30th June was robust rising by 16%, led by exports and a particularly strong performance in the US. Increased productivity helped margins rise by 26.6% and the company returned to profitability at the operating level. By the end of the half year net bank borrowings had been eliminated.
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Record year for Costain vs Stagecoach slowdown
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%