§ Nigel Howes will become Strategic and Corporate Development Director § Mark Stoner will be promoted from a senior executive role within the Group to Finance Director § Helen Keays will join as a non-executive Director * Adjusted operating profit means profit from operations before exceptional items and the amortisation of acquired intangibles. ** Adjusted earnings per share means fully diluted after new share issues and excluding the after tax effect of exceptional items and the amortisation of acquired intangibles. Commenting on the results Communisis Chief Executive, Andy Blundell, said: "This was another strong half-year performance. It demonstrates that our strategy is delivering consistent and profitable growth and the Board is confident about the Group's prospects for the remainder of the year."
§ Significant new multi-year contractual relationship secured - Lloyds Banking Group for new in-bound customer communication services - ten-year term § Strategically important contract extended - Procter & Gamble Europe SA for external brand building services in Europe - five-year term § Integrated agency model developed and higher margin creative services expanded through the acquisitions of The Communications Agency, Jacaranda and Public Creative
A significant increase in revenue, higher profits, strong cash flow, important new contracts, accelerated growth in international markets and acquisition activity combined to deliver another successful half year. Financial Highlights § Total revenue 40% ahead at £169.3m (H1 2013 £121.2m). Revenue (excluding pass through) up 28% at £116.3m (H1 2013 £91.1m) § Overseas revenue increased faster than expected to 19% of total revenue (H1 2013 13%), close to the Group's 20% target § Adjusted operating profit* up 18% to £6.1m (H1 2013 £5.1m) - Transitional costs on major new contracts caused operating margin on revenue (excluding pass through) to be lower at 5.2% (H1 2013 5.6%). Further progress toward the double-digit target is expected on a full-year basis § Profit after tax and basic earnings per share more than doubled to £2.2m (H1 2013 £1.0m) and 1.11p (H1 2013 0.55p) respectively § Adjusted earnings per share** grew 18% to 1.75p (H1 2013 1.49p) § Interim dividend 12% higher at 0.67p (H1 2013 0.60p) § Operating cash flows improved by £13.3m. Working capital unchanged despite a 40% increase in revenue § Substantial investments in acquisitions and market-leading technology funded by operating cash flow and additional debt. Net debt increased to £36.2m (December 2013 £25.7m), with net bank debt less than 50% of available facilities at £33.3m
Hi CM. Yes an encouraging reportage from Ben Jaglom from the Spring in GCI and I took note after reading it then. It does conjure up confidence in Breedon and I'm sure those of us holding will hang in to be eventually joined by enlightened Investors along the way. BW
Strange that it's not really moving up, as you say given all the positives. Aggregates may not be the sexiest product but I wouldn't have thought potential Investors would worry about that. Quarrylad' regarding the deinvestment package you mention, I would think Breedon would certainly consider any aquisition that is capable of enhancing turnover and profits, depending on the cost or conditions of a deal. As you say, it will be interesting to see what happens !
Hej Hardstand, the median estimate sounds ok, we shall see all in good time. I not ARM have purchased another 500,000 of its ordinary shares through UBS today into treasury. I assume they consider the current SP a good buying price. They should know the " state of play " better than the rest of us I would think. GL
Re: Fool.co.uk. I realize what you say is sometimes right. They do however, get it right sometimes. These days it's hard to believe anyone. No harm in posting and I think we can all make up our own minds on the information that's available. Regarding the SP of recent days, I'm suprised traders are selling a share in the 850-860p region to make 30-40p although on a large trade that's a nice few bob and buying back in on a manipulated drop. That's how it appears maybe. As posters say, no real reason for the drop and ARM grabbing their own stock at the lower prices, which in theory should hold the SP a bit, I would have thought. I think we should see the SP build up in due course and lots of us on here are optimistic for ARM's progress following the recent decent news. GL All.
I note midweek Invesco increased their Holding to 22.40% voting rights, and today Marwyn have reduced their Holding to 12.68% voting rights. FT forcasts____ The 3 analysts offering 12 month price targets for Breedon Aggregates Ltd have a median target of 47.00, with a high estimate of 58.00 and a low estimate of 45.00. The median estimate represents a 15.34% increase from the last price of 40.75.