Advanced Medical Solutions HY Pre-tax Profit Drops
Advanced Medical Solutions Group plc (AMS.L) reported that its profit before tax for the six months ended 30 June 2020 dropped to 4.3 million pounds from 11.2 million pounds in the prior year.
The Group generated adjusted profit before tax of 5.3 million pounds compared to 12.8 million pounds in the previous year.
Profit attributable to equity holders of the parent for the period was 3.65 million pounds, down from 8.77 million pounds in the prior year. Earnings per share decreased by 59% to 1.68 pence from 4.06 pence in the previous year.
Adjusted earnings per share decreased by 55% to 2.16 pence from 4.80 pence in the prior year.
Revenue decreased by 19% at reported and constant currency to 39.3 million pounds from last year.
The company plans to pay an interim dividend of 0.50 pence per share on 23 October 2020 to shareholders on the register at the close of business on 25 September 2020. The Board expects to return to dividend growth in the near future, as business returns to normal.
The company expects the sales impact of COVID-19 to gradually reduce in the second half of 2020 and as it moves into 2021, as global lockdowns are eased and a version of normality returns.
The company noted that it is starting to see signs of recovery in most markets.
Second half trading to date in 2020 is in line with Board expectations that were communicated in July 2020
Royal Gourmet Recalls Deluxe Gas Grills Sold At Wayfair.com
Norcross, Georgia-based Royal Gourmet Corp. is recalling about 1,100 units of deluxe gas grills citing fire risks, according to the U.S. Consumer Product Safety Commission or CPSC.
The recall involves Patio 2-Burner Propane Gas Grills with side shelves, manufactured in China. They were sold exclusively online at Wayfair.com from August, 2017 through November 2019 for about $240.
The grill has a porcelain cast iron firebox that houses two stainless steel burners, delivering 24,000 total BTUs and two shelves. The recalled gas grills include Model Number GG2004 in red color, GG2005 in black color and GG2006 in silver color. They come with date codes EBA20170525D-1, EBA20170525D-2, and EBA20170525D-3.
The agency noted that the grill’s plastic regulator hose can melt and catch fire, posing a fire hazard.
Royal Gourmet initiated the recall after receiving six reports of incidents involving grill catching on fire. However, no injuries have been reported.
Consumers are urged to immediately stop using the recalled grill and contact Royal Gourmet for a free accessory repair kit.
In similar incidents, citing fire risk, Intertex in August called back about 189,000 units of blowers. They were sold at Home Depot and Lowes stores nationwide and online from January 2008 through July 2020 for between $120 and $300.
Fed Decision, BOE Groundwork, Suga’s Reform Plans: Eco Day
Welcome to Wednesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day.
- Federal Reserve officials, who recently unveiled a more relaxed strategy on inflation, have an opportunity Wednesday to back up the plan with details as they look to accelerate the U.S. economic recovery. The FOMC isall but certain to keep its benchmark overnight rate in a target range of 0% to 0.25%
- The post-FOMC meeting press conference could be an opportunity for Chair Jerome Powell to incorporate an update toforward guidance, economists including Yelena Shulyatyeva write
- U.K. prices are also under pressure: Figures published Wednesday showedinflation slowing to 0.2%, the weakest since 2015. The BOE’s goal is 2%
Galliford Try FY20 Pre-tax Loss Narrows, Order Book Up; Sees Return To Profit In FY21
Galliford Try Plc (GFRD.L), a housebuilding, regeneration and construction group, reported Wednesday that its fiscal 2020 loss before tax narrowed to 34.6 million pounds from 64.5 million pounds a year ago.
Loss per share was 29.4 pence, compared to loss of 44.7 pence a year ago.
Pre-exceptional loss before tax was 59.7 million pounds, compared to 17.2 million pounds last year. Pre -exceptional loss per share was 47.7 pence, compared to 10.7 pence a year ago.
Revenue declined to 1.122 billion pounds from 1.40 billion pounds a year earlier. Pre- exceptional revenue dropped to 1.09 billion pounds from prior year’s 1.40 billion pounds, reflecting the business‘ focus on core sectors and the impact of Covid-19.
Order book was 3.2 billion pounds, up from 2.9 billion pounds last year.
Looking ahead, the company said it is reinstating financial guidance, with strong platform for return to profitability in fiscal 2021.
The company expects to return to profitability in the financial year to June 30, 2021 with operating margins, pre-central costs, expected to be 1.4 percent to 1.6 percent on revenues of 1.1 billion pounds to 1.3 billion pounds.
Further, the Board anticipates reinstating dividend payments, following a return to profitability.
Whicker: Nuggets make history, Clippers flunk chemistry – The Denver Post
Indonesia reports biggest daily rise in coronavirus infections
JAKARTA (REUTERS) – Indonesia reported its biggest daily rise in coronavirus infections with 3,963 new cases on Wednesday (Sept 16), data from the country’s Health Ministry showed.
Indonesia has now reported 228,993 infections.
The data included 135 new Covid-19 related deaths, taking the total to 9,100, the biggest death toll in South-east Asia.