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Ian Pollard – Tesco Forecasts £1.57 Billion Profits and 2p Final Dividend
Tesco TSCO is to publish its prospectus and other documents later today for its proposed merger with Booker. These will include a profit forecast of £1,57 billion for the year to 24th February 2018 and an intention to pay a final dividend of 2p per share.
Electrocomponents ECM The quarter to the 31st January produced a strong underlying revenue performance with growth of 14%. Each of the 5 regions produced double digit underlying growth. The Performance Improvement Plan stage 1 has now been completed and the company is excited by the opportunity for further growth and improvement.
Wizz Air Holdings WIZZ Passenger numbers grew by 24.4% in January, slightly less than seat capacity which was up by 24.8%. Load factor fell by 0.3%
Murgitroyd Group MUR is to increase its interim dividend by 30% to 6.5p per share for the half year to the 30th November. Profit before tax rose by 14% and basic earnings per share by 14%. The board is confident of further long term growth.
Croma Security Solutions CSSG trading for the 6 months to the 31st December has been exceptionally strong and EBITDA is expected to have grown from £0.44m to £1.1m. Record profits are expected for the full year.
Eckoh ECK has secured six sizeable new orders since the interim results were announced on the 17th November. These were in a variety of sectors including, healthcare, insurance and mobile telecoms where the client was one of the UK’s largest mobile telephone operators. Benefits are expected to start accruing in the second half.
Smart Metering Systems SMS saw total annualised revenue rise by 38% in the year to the 31st December. In the Electricity division, meter recurring revenue nearly tripled to £11.2m. Results for the year are expected to be inline with current market expectations
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MP Evans Dividends Surge As Palm Oil Back In Favour
M.P. Evans Group MPE enjoyed an excellent 2016 and like for like profit for the year to 31st December more than doubled, rising from from $7.8m to $16m. Total dividends for 2016 will follow suit with a rise from 8.75p in 2015 to 20p (including a special dividend of of 5p per share) and even more is promised for current year when total payments of 25p per share are expected. The board is said to be excited about the addition of significant new plantations.
The share price after steadily declining for a number of years, has recognised the transformation in palm oil prospects, rising from 415p in mid October, to todays 750p.
Homeserve HSV updates that it has had a very good year and expects that results will be at the upper end of market expectations. Customer growth in the UK was at a fairly modest 1% but in the US, there was significant expansion. The CEO is delighted with the company’s performance and promises that there will be further strong growth in the current year.
Electrocomponents ECM Expects that after a strong fourth quarter, results for the year to the 31st March will be ahead of previous expectations and headline profit before tax will be ahead of current market consensus. Revenue growth in quarter 4 accelerated to 8%. strong recovery was seen in North American and Pacific growth and a continuation of robust growth in Europe.But, both revenue and profits have benefitted from significant foreign exchange movements and additional trading days in 2017.
Hardide HDD First half sales to the Oil & Gas sectors have more than doubled compared to 2016 and overall trading is comfortably ahead of both first and second half performances in 2016..
Murgitroyd Group MUR enjoyed a strong third quarter with a 6% rise in revenue over the previous year, leading to a much improved trading perfrmance, ahead of revised internal forecasts.