Ladbrokes Coral revenues over £1bn – Finance Friday

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Ladbrokes Coral

Finance Friday – a brief look at this week’s finance and investor news from around the UK

Ladbrokes Coral

First half revenues of £1.2bn were up 1% across the combined Ladbrokes and Coral businesses, as a strong digital performance offset weaker UK retail. Group operating profits rose 7% to £158.3m, with digital again leading the way.

An interim dividend of 2p was announced alongside results (2016: 1p). The shares rose 2.2% in early trading.

Petrofac

Petrofac saw revenue and underlying profits slip in the first half, respectively down 20% and 41% on a year earlier. The order backlog has fallen from $14.3bn at 31 December to $12.5bn.

The interim dividend has been cut in order to protect the balance sheet, and now stands at 12.7 cents per share (2016: 22 cents). The shares fell 1.2% in early trading.

Dixons Carphone

Shares in Dixons Carphone fell 30% in early trading, after the group issued an unscheduled trading update.

Tough conditions in the UK mobile phone market, negative revaluation of receivables, and a new charging structure for honeybee software mean Carphone Warehouse now expects profit before tax for this year to be in the range of £360m-£440m (2016: £501m).

Emis

EMIS saw revenues rise 1% in the first half of the year to £79.2m, with underlying operating profits of £17.5m down 1%. The interim dividend increases 10% to 12.9p per share. The shares fell 2.2% following the announcement.

WPP

First half reported revenue rose 13.3% to £7.4bn. However this was largely supported by currency movements and acquisitions, with like-for-like (LFL) revenue down 0.3% at constant exchange rates (CER).

Headline diluted earnings per share of 45.4p rose 16.1%, up 2.4% at CER. The interim dividend rises 16.1% to 22.7p. The shares fell 8.4% following the announcement.

Persimmon

Revenues rose 12% in the first half to £1.66bn, with house prices and volumes both improving. That supported a 30% increase in first half profits before tax to £457.4m. The shares rose 2.7% in early trading.

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