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Ian Pollard – On The Beach #OTB hit by heatwave

On the Beach Group PLC OTB Revenue was heavily impacted by the unprecedented hot summer in Scandinavia leading to lower demand for holidays and widespread discounting of distressed product by Sweden’s leading tour operators. Nonetheless revenue at On the Beach Group for the year to the 30th September rose by 24.5%, profit before tax  by 23.5% and adjusted earnings per share by 20.5%. The World Cup also suppressed holiday demand. The dividend is to be increased by 17.9% to 3.3p per share but.the consumer environment continues to remain challenging.

RPC Group plc RPC Enjoyed significant organic growth in China and US in the six months to the 30th September due to higher added value products. Revenue growth of 7% to £1,892m reflected continuing organic growth of 3.2%. Adjusted profit before tax fell by 2% or 5% on a statutory basis whilst adjusted basic earnings per share rose by 2% . The Interim dividend is increased by 4% to 8.1p per share representing the 26th consecutive year of dividend growth.

Telford Homes PLC TEF increased revenue by 31% in the six months to the 30th September Total profit before tax  was up by16.1 per cent to £10.1m  and the interim dividend is to be increased by 6.3% as the company made what it describes as pleasing progress, with a pipeline of 5,000 homes.

Senior plc SNR has issued a trading update for the ten months to the end of October and expects good progress to be made in 2018.

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Ian Pollard – Primark Like For Like Sales Fall

Associated British Foods ABF updates that the outlook for the year to the 15th September remain unchanged. Strong profit performances from Primark, Grocery, Agriculture and Ingredients are expected to more than offset the adverse effect of lower EU sugar prices. Grocery revenues are expected to be ahead of last year and adjusted operating profitshould be well ahead. At Allied Bakeries, some progress has been made in reducing the operating loss.It looks like the glory days at Primark  may be coming to an end with a 2% fall in like for like sales expected, although in the UK full year sales  are expected to be 5.5% ahead at constant currency rates or 6% at actual  rates following a significant increase in market share.

RPC group plc RPC has announed that it notes the recent media speculation and confirms that preliminary discussions are taking place with each of Apollo Global Management and Bain Capital which may or may not result in an offer for the Company.

HydroDec Group plc HYR The introduction of a new senior management team came too late to stop losses escalating for the six months for the 30th June:  The overall loss for the period increased to US$3.3 million compared to last years US$2.6 million due to under performance from discontinued Australian operation. There has however been a strong start to the second half and the new management is excited bout what lies ahead.

ABCAM PLC ABC is increasing its annual dividend by 17.9% after revenue for the year to the 30th June increased by 7.4% on a reported basis and 10.7% on a constant exchange rate basis.Reported  profit before tax rose by  grew 33.1% to £69.1m and whilst on an adjusted basis the increase was 26.3% to £81.6m. The company met all its strategic targets during the year and says that the long-term market outlook remains positive with good momentum across the business.

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Polypipe Dividend Up By 29.5%

Polypipe PLP Excellent like for like UK revenue growth of 10.5% for the year to 31st December, led to a record performance by the group as a whole, with exports adding to the happy picture with a rise of 28.7%. The final dividend is to be increased by 29.5%, after profits before tax rose by 31.1% and earnings per share by 29.2%

DFS Furniture Group DFS Following good sales growth and strong cash generation in the half year to 30th January, DFS is increasing its interim dividend  by 5.7% and paying a first ever special dividend og 9.5p per share. Revenue over the six months grew by 6.8% and profit before tax by 3.1%. Online traffic showed  double digit growth and the company believes it has excellent prospects for long term growth.

SCISYS SSY produced a very healthy performance and strong organic growth in the year to 31st December and the momentum seen in the second half of the year has continued into 2017. Revenue for the year rose by 27%, leading to a fourfold rise to £3.2m in adjusted operating profit and a leap in basic earnings per share from 1.3p to 9.2p. The full year dividend is to be increased by 10%

Booker Group BOK If the planned merger with Tesco actually takes place the fourth quarter and full year sales to the 24th March will only be of historical interest. Fourth quarter non tobacco like for like sales rose by 4.7%, whilst like for like tobacco sales fell by 7.5%  as the government tried to stop people killing themselves. Internet sales rose by 8%. Total sales for the full year rose by 6.7%.

RPC Group RPC expects revenue for the year to 31st March will be significantly ahead of the previous year and adjusted operating profit will exceed management expectations. Acqusitions made in March and August 2016 are both performing ahead of expectations and have been successfully integrated.

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Sterlings Decline and Fall Is Helpful – So Far

RPC Group RPC claims an encouraging overall performance for the quarter to 30th June. Revenue was significantly higher and adjusted operating profit was significantly ahead of management expectations, plus the added bonus of favorable currency movements, resulting from our politicians successful attempts to destroy the value of our currency.

Amino Technologies AMO Revenue for the half year to 31st May surged by 58% and adjusted profit before tax by 40%. The interim dividend is to be increased by 10%. Last years first half statutory profit of £3.6m. was turned into a stautory loss of £0.5m after taking into account £3.5m of exceptionals and a further £1.1m amortisation of acquired intangibles.

Pinewood Group PWS is increasing its final dividend by 14.3%, after what it claims is another strong set of results. Revenue for the year to 31st March rose by 10.9% and profit after tax was up by 51.6%. The fall in the value of sterling was a positive factor.

Iofina IOF has performed well during the first half of 2016, achieving its production targets and increasing revenue, despite a fall in the price of iodine, which it appears has now stabilised.

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Fastjet Survived After All

Fastjet FJET Claims 2015 was a year of change and challenge but contrary to the hopes of some pundits who enjoy making a living out of predicting and helping to create, doom and disaster, it survived. Passenger numbers for the year to the end of December rose by 32% but the load factor for Tanzania fell 6.6% following the woes of the Tanzanian economy.

Year end cash rocketed from $1.4m to $28.9m and like for like revenue was up by 21%, helping to bring the loss for the year down from $58.5m to $16.9m and the loss per share down from 3.38 cents to 0.71 cents. Short term targets include continuing to reduce costs and to match capacity to the reduced demand,

Johnson Matthey JMAT  The usual story from a company which has not had a good year and feels that it needs to explain away, if it can, a 22% fall in profit before tax. It does not need much guesswork to expect that a dividend increase is on the way, and it is.  As soon as it claims a robust performance and that some markets have been particularly challenging, you can guess  the news is not too good and that one way or another the board will be seeking shelter.

So for the year to 31st March Johnson Matthey’s revenue rose by 7%,  and the dividend is to be raised by 5%. It suffered from falls in 3 out of its 4 main markets, precious metals being especially hard hit. To be fair improvement is expected for the current year, with strong growth drivers leading the way.

RPC Group RPC is raising its dividend for the year to 31st March by 20% after revenue rose by 34%. The company claims that the year produced good underlying growth and a strong business performance. Like for like net profit before tax was up from 67.1m to 75.6m and adjusted earnings per share rose by 14%.

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