Corporate news review Tuesday 26th September 2017

AA Plc AA. Reports a robust H1 for Roadside and Insurance. Trading EBITDA rose 1% to £193m reflecting gains in insurance broking as well as reduced Head Office costs. Chairman John Leach said the Board “is very pleased that Simon Breakwell has agreed to take the role of CEO on a permanent basis” Animalcare Group […]

Royal Mail Responds To Challenges

Royal Mail Group RMG One can adjust ones view of Royal Mails results for the year to 31st March, according to whether one prefers ones results on a reported or on an adjusted basis.Whichever one prefers the final dividend of 15.6% means a rise for the year of 4%. On a reported basis, profit before […]

United Utilities – High Level Of Regional Deprivation

United Utilities UU  complains that its customers and the area in which they live suffer from high levels of income deprivation ie “a damaging lack of basic material benefits.” I wonder what its customers think to that slur. Shareholders need not fear however, as the company has “innovative facilities for enhanced engagement with its customers” […]

Smith & Nephew Raises Dividend 20% as Growth Slips

Smith & Nephew plc SN. proposes to increase its full year dividend by about 20% at current exchange rates following  a fourth quarter fall in reported revenue of 3%. The CEO admits that 2016 growth of 1% in reported revenue was lower than the company wanted and blames market conditions in China & the Gulf […]

Thomas Cook Hit Hard in Continental Europe

Thomas Cook TCG has been hit hard in Continental Europe with prices down 3% compared to last year on top of a 9% fall in bookings. Belgium is down significantly following the Brussels terror attacks and Germany is showing a 6% fall compared to 2015. Overall today’s pre close update shows strong demand for most […]

Mothercare Delivering at Last

Mothercare MTC The turnround in the UK is continuing apace with group underlying profit before tax up by 51% and statutory profit before tax of £9.7m, being the first after four years of losses.  Like for like UK sales rose by 3.6% Internationally the picture is much blacker and having set the UK on a […]

Lies, Damned Lies and Thomas Cook’s Headline Statistics

“Lies, damned lies and statistics”  a phrase often attributed to Disraeli, is used to describe the persuasive power of numbers, particularly the use of statistics to bolster weak arguments. Some of the headlines used in Thomas Cooks third quarter results last week seemed to lend some strength to the adage. “The 12th consecutive quarter of improved profitability”, trumpeted Cooks, […]