Results Round-up
Shares in Amino Technologies rose over 8% early on Tuesday, after the group reported a hike in first half profits.
Aferian
7.37p
16:55 03/05/24
FTSE 250
20,164.54
17:00 03/05/24
FTSE 350
4,515.50
16:54 03/05/24
FTSE AIM All-Share
771.53
17:14 03/05/24
FTSE All-Share
4,469.09
17:14 03/05/24
Personal Goods
16,402.06
16:54 03/05/24
PZ Cussons
105.20p
16:40 03/05/24
Technology Hardware & Equipment
1,920.18
16:30 11/04/24
In the six months to 31 May revenue grew 9% year-on-year to £17.9m, while gross profit jumped 23% to £9.1m and gross margin rose 5.9 percentage points to 50.8%.
The group said earnings before interest, tax, depreciation and amortisation surged 34% year-on-year to £3.9m, while adjusted operating earnings before exceptional items rose 56% to £2.8m.
“Thanks to a clear and well thought-out strategy, our business has reignited its organic revenue growth, extended its margins and profitability,” said the group's non-executive chairman Keith Todd.
Meanwhile, the London-listed group added that it has agreed a deal to acquire video service delivery group for $73m (£46.9m), which will comprise an initial payment of $65m in cash to be funded via existing cash facilities, a revolving $8m credit facility and a placing to raise approximately $21m.
The remaining $8m will be paid in cash to Entone management only, Amino said.
For the 42nd year in a row, PZ Cussons increased its full year dividend, despite revenues and profits being dragged down by the major currency devaluation in Nigeria, its largest business.
These challenges are expected to continue in the new year, the company cautioned, as further weakening in exchange rates in the west African country, Australia and Indonesia is seeing imported inflation affecting margins as well as consumer disposable income.
In Nigeria, a recent tightening in foreign currency restrictions is also putting additional pressure on the exchange rate.
As largely expected, revenue of £819.1m in the year to 31 May was down 4.9% at the statutory level but up 0.7% if currency fluctuations are ignored and up 2.3% on a like-for-like (LFL) basis.
Operating profits before exceptional items of £114.4m fell 1.7% on a reported level, but rose 1.8% at constant currencies and 2.7% on a LFL basis.
After accounting for exceptional items, which mainly include restructuring and acquisition costs, pre-tax profits fell 32.1% on a reported basis.
Adjusted basic earnings per share were almost flat at 17.94p, but up 3.5% at constant currencies and 4.5% LFL. After exceptional items, EPS fell 42.1%.
The total dividend per share was hiked 3.1% to 8.00p, in line with forecasts.
Net debt grew to £157.4m from £29.4m a year before, but was still only 1.2 times EBITDA at the year-end.