Market News - Page 698

Q1 highlights:

· Group revenue +0.4%

· Product revenue -2.8%

· Financial services revenue +9.0%

· Total online revenue +3% and Power Brand online revenue +9%

· 75% of total revenue now generated online, and 84% for new customers

· Total and Power Brand active customers (12 month rolling basis) both broadly flat year-on-year

· In line with our online strategy, consultation begun to consider closing our 20 stores

· Full year guidance unchanged, aside from exceptional costs relating to these proposed store closures…

The Company has benefited in this past year from the major investment programme that we embarked upon in 2016 and which has continued throughout the course of this last year. This has allowed us to continue to grow whilst dealing with some significant challenges to our cost base….

Trading update – ahead of closed period commencing 26 June 2018

The business continues to perform well and trading is in line with our expectations
Strong adjusted revenue growth from the Strategic Brand Portfolio, on a representative basis
Continued strong market share growth, driven by the Global Drive Brands (GDBs)
Adjusted revenue and adjusted profit growth, on a representative basis, expected to be weighted to the second half of the year, as the impact of a number of significant events affecting the comparison with H1 2017 unwind
Good adjusted constant currency EPS growth, is expected to be impacted by a significant currency translation headwind of around 9% for the first half and 6% for the full year, assuming exchange rates remain unchanged for the remainder of the year

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Ted Baker, the global lifestyle brand, announces a 4.2% (7.5% in constant currency) increase in Group revenue for the 19 week period from 28 January 2018 to 9 June 2018 (the “period”), compared to the same period last year. This performance was achieved despite the impact of unseasonal weather across Europe and the East Coast of America in the early part of the period and, as previously reported, external trading conditions remaining challenging across many of our global markets….

Accrol is delighted to announce it has become the first UK tissue converter to offer customers a plastic-free solution on all its products, which include toilet roll, kitchen roll and facial tissues.

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FINAL RESULTS FOR THE YEAR TO 31 JANUARY 2018

B.P. Marsh & Partners Plc (AIM: BPM), the niche venture capital provider to early stage financial services businesses, announces its audited Group final results for the year to 31 January 2018.

The highlights of the results are:

Increase in the Equity Value of the Portfolio of 31.3% (£18.9m)
Net Asset Value of £98.9m (31 January 2017: £79.7m), a 24.1% increase, net of Dividend
Net Asset Value increased to 339p per share (31 January 2017: 273p)
Total return to Shareholders in the year of 25.5% (2017: 13.9%)
Consolidated profit after tax of £20.2m (31 January 2017: £9.8m)
Average Net Asset Value annual compound growth rate of 12.0% since 1990
Final Dividend of 4.76p per share declared (31 January 2017: 3.76p), a 27% increase
Cash and treasury funds balance of £5.4m at year end
Four new investments – two in Lloyd's Brokers and two in the USA
Two disposals – Besso and Trireme
Further investment into LEBC of £7.1m
Provision of follow-on funding to Nexus of £4m
Current uncommitted cash of £0.5m…

B.P. Marsh & Partners Plc (AIM: BPM), the specialist venture capital investor in early stage financial services businesses, today announces a conditional placing of 6,169,194 new Ordinary Shares (the “New Placing Shares”) to a new investor in the Company (the “Investor” or “PSC”), an entity in the PSC Insurance Group (“PSC Group”), at a price of 252 pence each (the “Issue Price”) to raise gross proceeds of approximately £15.5 million for the Company (the “Placing”). Additionally, the Placing will also include the transfer by B.P. Marsh Management Limited (a company wholly owned by Brian Marsh, the Executive Chairman of the Group) of 1,166,310 Existing Ordinary Shares (the “Sale Shares”) to the Investor, who has also agreed to acquire the Sale Shares at the Issue Price….

Financial highlights   ·     6.5 per cent rise in operating profit to £11.6m (2017 – £10.9m)   ·     4.1 per cent growth in profit before tax…