Recent articles for private investors with a focus on dividend announcements
Reed Elsevier increases 2014 interim dividend by 5%
REED ELSEVIER FINANCIAL AND OPERATIONAL HIGHLIGHTS
Capita increases 2014 interim dividend by 10.3%
Highlights
Delivering profitable growth
£1.3bn of major contract wins secured in H1 2014 including:
- £400m strategic partnership contract with the Defence Infrastructure
Organisation (DIO)
- £325m framework contract for Scottish Wide Area Network (SWAN)
- £145m congestion charging and traffic enforcement schemes contract for
Transport for London (TfL)
- £93.5m online customer management contract with John Lewis
Major contract win rate above 2 in 3
Organic revenue growth of 11% (H1 2013: 3%); full year organic
revenue growth expectation of at least 8%, net of attrition
Bid pipeline replenished to a record £5.7bn (Feb 2014: £5.5bn); strong
platform for 2015/16 growth
Highest ever level of prospects behind bid pipeline, with opportunities
across our diverse markets
Active acquisition pipeline; £240m invested to date on 10
businesses, expanding capabilities and market reach to fuel future organic
growth
Good financial performance
Revenue up 13.9% to £2.1bn (H1 2013: £1.8bn)
Underlying profit before tax up 16.0% to £238.0m (H1 2013: £205.2m)
Underlying operating margin of 12.6% (H1 2013: 12.5%)
Operating cash flow up 21.6% to £291m (H1 2013: £239m); 112% cash
conversion (H1 2013: 105%)
Gearing at 2.3 times net debt to EBITDA (H1 2013: 2.2 times)
Andy Parker, Chief Executive of Capita plc, commented:
"I am pleased to report good financial results for the first 6
months of the year, demonstrating the strength of Capita's sales offering and
operational delivery and the health of the UK customer and business process
management market. Our breadth of capability across a diversified and growing
market base enables us to move flexibly across sectors and to maintain a high
level of selectivity regarding the opportunities that we pursue. We have had
an excellent sales period securing £1.3bn of contracts and we are continuing
to see a high level of activity across our markets, particularly in the
private sector, providing a strong future platform for growth.
As a consequence of our sales and acquisition performance in 2013
and to date in 2014, we have a high level of revenue visibility for 2014.
This, together with the strength of our bid and acquisition pipelines, gives
us confidence in our full year performance and provides a good platform for
growth in 2015 and beyond."
Dialight increases 2014 interim dividend by 6.1%
Lighting revenue increased 46% (53% at constant currency) to £43.0m (H1 2013: £29.3m)
Photo-me international increases 2014 full year dividend by 25%
Revenue 4.6% lower at £186.6 million (-2.2% at CC)
WS Atkins increases 2013/14 full year dividend by 5.5%
Underlying profit before tax up 7.3%, on revenue 2.6% ahead
Halma increases its 2013/14 full year dividend by 7%
Growth in continuing operations: revenue up 9%, adjusted pre-tax profit up 9%. Organic growth at constant currency: revenue up 6%, profit up 5%.
Betfair increases 2013/4 full year dividend by 54%
Sustainable revenues up 9%, with growth across all products
Pennon increases 2013/14 final dividend by 6.2%
FINANCIAL HIGHLIGHTS
·
Profit before tax up 9.1% to £207.3m
-
South West Water up 10.8% to £162.5m
-
Viridor down 19.5% to £27.6m
-
Viridor PBIT + JVs down 4.6% to £43.6m
-
Viridor EBITDA down 1.8% to £76.3m
·
Net exceptional charges £48.6m (post tax £39.7m)
·
Earnings per share up 5.7% to 42.6p
·
Dividend
-
Full year dividend up 6.5% to 30.31p
-
Recommended final dividend per share up 6.2% to 20.92p
·
Strong liquidity and funding position
-
£640m new/refinanced facilities since 31 March 2013
-
£1,303m cash/committed facilities at 31 March 2014
-
Average cost of debt reduced to 3.8%
·
Substantial progress in delivery of major capital programmes
-
South West Water capex up 22% - target efficiencies delivered
-
Viridor - 70% of spend now complete on EfW projects under construction
·
Group businesses well positioned for the future
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