Ian Pollard – Telecom Plus #TEP Delivers New Records

Telecom Plus TEP delivered record revenue, profits and dividends in the year to the 31st March, with growth and momentum becoming significantly faster.  The impact of a warm winter and the Ofgem price cap have led to expectations that pre-tax profits will be towards the lower end of previous guidance at around £56m.  For 2020 […]

Ian Pollard – Whitbread #WTB, a solidly good year!

Whitbread plc WTB can not quite make its mind up as to whether its full year results are good or solid, so to be on the safe side, it claims they are both.On an underlying basis revenue rose by 2.6% and profit before tax by 2.5% which is hardly impressive. On a statutory basis, operating […]

Ian Pollard – Primark Like For Like Sales Drop

Associated British Foods ABF warns that for the first half so far like for like sales at Primark have gone into decline with a 1% fall. This is despite a strong performance in the UK with produced a 4% rise in like for like sales and an 8% overall sales rise which was helped by […]

Ian Pollard – Sports Direct Hit By UK High Street Woes

Sports Direct Intl SPD Mike Ashley claims a spectacular trading performance during the half year to the 29th October which is hardly justified by the reality of the situation, namely a fall  of 1% in UK sports retail revenue or 1.2% on a like for like basis. So, he limits his claim to the trading […]

Pipelines Are In Growth Channels & Lapped Prior Year Pipeline Fill

Whitbread plc WBT places such emphasis on its various pipelines new and old that one has to wonder which business it is in, hotels or oil and gas. Verbiage in its interim report has not however stopped it from having a good first half. On a statutory basis, profit before tax for the six months […]

Bunzl – 24 years of Dividend Growth

Bunzl plc BNZL is increasing its interim dividend by 8% giving it a 24 year track record of dividend growth. Revenue for the half year to 30th June rose by 7%, adjusted profit before tax  by 5% and adjusted earnings per share by 7%, all at constant exchange rates. Like for like revenue growth increased […]

Stagecoach Ups Dividend As Profits Disappear

Stagecoach Group SGC Does not expect to be profitable until 2019 so it is playing safe and to make sure that shareholders do not get too angry is raising the dividend for the year to 29th April by 4.4% to 11.9p per share. Basic earnings per share for the year fell from 17.1p to 5.5p […]

The Prime Minister – Liar or Incompetent ?

The Prime Minister was either a liar when she claimed only a few months ago that there was no need for an election before 2020, or she was so completely out of touch with the political realities of Westminster that she is completely unfit to govern the country. In those months since the referendum, nothing […]