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Michael Page predicts solid annual profit

first_img Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald whatsapp whatsapp Share Michael Page predicts solid annual profit center_img KCS-content Tags: NULL Monday 10 January 2011 7:19 pm Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof RECRUITER Michael Page expects 2010 profit to be marginally ahead of consensus after strong demand for permanent placements in Asia, Latin America and the Middle East boosted its fourth quarter.Michael Page said yesterday its gross profit for the fourth quarter was up 32 per cent at £119.8m, taking the full-year figure up 26 per cent.The fourth quarter was boosted by growth in Asia, Latin America, the big markets in Europe and the Middle East and an improving picture in the UK. Trading was boosted by an almost 70 per cent jump in fourth-quarter gross profit in the Asia Pacific region, which accounts for 17 per cent of the group. Europe, Middle East and Africa, 44 per cent of the group, was up 25 per cent.The UK, which has struggled in recent years and which accounts for 26 per cent of the group, was up 16 per cent. The Americas were up by 62 per cent.“I am delighted to report another strong quarter of organic growth in year-on-year gross profit, up 32 per cent, with all regions improving,” chief executive Steve Ingham said.“Most of this growth came from permanent recruitment, up 40 per cent, with temporary recruitment growth rates also improving, now up 10 per cent.”There were also positive results from professional services recruiter Hydrogen Group, which saw its net fee income grow by 60 per cent from £17m in 2009 to £27m at the end of 2010. FAST FACTS | MICHAEL PAGEFounded in 1976 in London to provide specialist recruitment for accounting and finance.Posted a 26 per cent boost in global gross profits for 2010, with total profits rising £90.4m to £442.1m. last_img read more

Gamesys sees income fall despite revenue growth in 2019

first_img Gaming operator and content developer Gamesys Group has reported a 34.7% year-on-year rise in gaming revenue for 2019, but also experienced a decline in net income for the year due to higher spending and foreign exchange fluctuations.Gaming revenue for the 12 months to 31 December 2019 amounted to £415.1m (€456.1m/$506.1m), up from £308.2m in the previous year.On a proforma basis, assuming Gamesys had been incorporated into the business for the full year, revenue would have been up 14.7% at £565.3m.The UK remained Gamesys’ core market in 2019, with revenue from this region coming in at £214.6m, up 30.9% from £163.9m in the previous year. Gamesys also noted year-on-year growth in Asia, with revenue rocketing by 137.2% to £122.4m.However, it was not such good news for Gamesys in Europe, where gaming revenue fell 13.5% to £68.6m, while rest of world revenue also slipped 29.1% to £9.5m for the year.The business began 2019 as JPJ Group, but rebranded as the Gamesys Group in September after it completed the £490m acquisition of a number of assets from its long-term technology partner.Focusing on costs and expenses for the year, total spend amounted to £381.4m, up 47.6% year-on-year, with Gamesys seeing higher spending across a number of areas.Distribution costs, the main outgoing for the business, amounted to £214.2m, up from £149.9m as Gamesys spent more on selling and marketing, licensing fees, gaming taxes and processing fees.Administrative expenses jumped 40.7% year-on-year to £147.4m as the group saw an increase in spending relating to compensation and benefits, professional fees, amortisation and depreciation, and general and administrative.Gamesys also noted a significant increase in transaction-related costs, with this rocketing by 573.9% from £1.9m to £15.8m for the year, primarily related to the acquisition of Gamesys assets in September.In addition, Gamesys attributed a £23.2m spend to financial expenses in 2019.Significantly higher spending across the business meant net income for the year was down 41.4% to £8.5m. However, when taking into account the effects of currency exchange, net income stood at £2.0m, down 85.4% from £13.7m in 2018.For the latter of these income figures, Gamesys noted a £9.3m unrealised loss on cross currency swap, in addition to a £1.2m loss on interest rate swap.However, these were partially offset by a £2.7m gain on foreign exchange forward and also a £1.3m foreign currency translation gain on retranslation of overseas subsidiaries.“I am delighted with Gamesys Group’s strong financial performance in 2019, particularly given the significant work undertaken around the acquisition and integration of the legacy Gamesys business,” chief executive Lee Fenton said.“It was particularly pleasing to see the UK return to moderate growth in 2019 as we annualised the introduction of enhanced responsible gambling measures and we expect to see similar trends in 2020.“We are confident that our approach of multiple trusted brands, player centricity and a focus on the quality, rather than quantity, of content will leave us well-positioned to make market share gains.”Analysts from Regulus Partners also picked up on this UK success, saying that Gamesys should be able to maintain its growth in the UK despite challenging market conditions.In addition, Regulus highlighted Gamesys’ activities in Japan, saying that the business is “clearly making Japan work extremely well operationally”.However, Regulus also said that Gamesys should seek to broaden its product and geographic exposure in order to ensure long-term growth.Publication of the full year results comes after Gamesys earlier this month also announced that it had made a repayment of £40m towards its debt balances, reducing total outstanding debt by 7%.The first debt paydown represented over 15% of the operator’s outstanding GBP debt, as well as a significant portion of total debt.This followed a fourth quarter in which revenue grew 15.2% to £153.1m, up 82.2% year-on-year. Distribution costs climbed to £78.3m, while administrative expenses rose to £27.6m, and impairment charges to £3.9m.After these expenses were stripped out, Gamesys’ adjusted EBTIDA for the year amounted to £43.4m, down 4.1%.  Gaming operator and content developer Gamesys Group has reported a 34.7% year-on-year rise in gaming revenue for 2019, but also experienced a decline in net income for the year due to higher spending and foreign exchange fluctuations. Subscribe to the iGaming newsletter 17th March 2020 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Financecenter_img Gamesys sees income fall despite revenue growth in 2019 Tags: Online Gambling Topics: Finance Email Addresslast_img read more

The United Basalt Products Ltd (UBP.mu) 2009 Annual Report

first_imgThe United Basalt Products Ltd (UBP.mu) listed on the Stock Exchange of Mauritius under the Building & Associated sector has released it’s 2009 annual report.For more information about The United Basalt Products Ltd (UBP.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the The United Basalt Products Ltd (UBP.mu) company page on AfricanFinancials.Document: The United Basalt Products Ltd (UBP.mu)  2009 annual report.Company ProfileThe United Basalt Products Limited operates in two segments which are building materials and agriculture, to manufacture, retail and sell building materials in Mauritius. The company’s core products include aggregates, rocksand, hollow concrete blocks, precast concrete slabs and ready-to-use dry mortars. The United Basalt Products Limited also provides various concrete building components, such as paving-blocks and roof tiles, imported floor and wall tiles, and sanitary ware as well as home building and decorating products, fittings, tools, and garden accessories. The Agriculture segment deals in the cultivation of sugarcane, plants and landscaping services. The United Basalt Products Limited is listed on the Stock Exchange of Mauritius.last_img read more