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EARNINGS UPDATES: Weir, Inchcape, FDM profit up, Rotala resumes payout

Thu, 28th Jul 2022 15:32

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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Weir Group PLC - Glasgow-based engineering company - Records a pretax profit of GBP126 million in the first half of 2022, up 26% from GBP100 million a year before. Revenue rises to GBP1.10 billion, up 20% from GBP900 million. Attributes this to record order wins. Declares an interim dividend of 13.5 pence per share, up 17% year-on-year. Expects its 2022 operating margin to be line with prior guidance. Expects its full-year profit towards the upper end of the range of current analysts' expectations. Notes Ricardo Garib will retire as president of Weir Minerals with effect on December 31. He will be succeeded by Andrew Neilson, who is currently president of Weir ESCO.

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Jardine Matheson Holdings Ltd - Hong Kong-based holding company with interests in retail, property, hotels and motor dealerships - Reports an underlying profit of USD747 million in the half-year to June 30, up 22% versus USD615 million a year before. Revenue grows 4% to USD18.27 billion from USD17.49 billion. Attributes this to strong growth in Southeast Asia, particularly by its Astra buiness, and further contributions from the simplification of its holding structure. Declares an interim dividend of 55.00 US cents, up versus 44.00 cents per share. Believes it is well positioned to drive sustainable mid- and long-term earnings growth.

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Inchcape PLC - London-based auto distribution, retail and services company - Says pretax profit in the first half surged to GBP188 million from GBP33 million a year ago. Interim revenue rises to GBP3.89 billion, up 8% versus GBP3.58 billion. Credits growth to strong consumer demand. Declares an interim dividend of 7.5p, up from 6.4p, year-on-year. Expects to deliver a full-year adjusted pretax profit from continuing operations between GBP350 million and GBP370m million at prevailing exchange rates. Signs agreement to acquire automotive distributor Derco for a cash and share consideration valuing Derco at GBP1.3 billion.

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Robert Walters PLC - London-based recruitment firm - Reports a pretax profit of GBP26.4 million for the first half of 2022, up 19% from GBP12 million a year before. Revenue rises 15% to GBP538.6 million from GBP468.2 million. Says recruitment activity levels were strong across all forms of recruitment. Declares interim dividend of 6.5 pence, up 20% versus 5.4p. Says current trading remains in line with its recently upwardly revised market expectations.

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FDM Group Holdings PLC - London-based recruitment company - Records a pretax profit of GBP22.2 million in the first half of 2022, up 8% year-on-year from GBP20.5 million. Revenue grows 16% to USD152.8 million from GBP131.3 million. Declares an interim dividend of 17.0p, 13% higher year-on-year from 15.0p. Believes it is well placed to achieve its expectations for the full year.

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Cohort PLC - Reading, England-based defence and security markets-focussed technology company - Records a pretax profit of GBP10.2 million for the full-year ended April 30, 44% higher year-on-year versus GBP7.3 million. Revenue fell 4% to GBP137.8 million from GBP143.3 million. Proposes a final dividend of 8.35p, up 10% from 7.60p the year before. This takes its total dividend for financial 2022 to 12.20p, up 10% from 11.10p. Says the new year started in line with expectations.

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Impellam Group PLC - Luton, England-based talent acquisition and workforce management company - Reports a pretax profit of GBP10.7 million for the first half of 2022, up from GBP4.8 million. Revenue rises to GBP1.23 billion, up from GBP1.04 billion. Declares no dividend.

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Rotala PLC - bus operations at Heathrow airport and in West Midlands and North West - Posts a pretax profit of GBP2.1 million for the first half of financial 2022, ended May 31, up from GBP800,000 a year before. Revenue rises to GBP39.0 million, down versus GBP47.3 million. Resumes its interim dividend with a payout of 0.5p per share.

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By Abby Amoakuh; abbyamoakuh@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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