No news and mixed news for T30
French Connection, Autologic, Northgate and Games Workshop are doing OK but directors are becoming facing the future with varying degrees of trepidation
Fashion brand French Connection rewards the faithful with half-year results that, the company claims, signals a return to growth
The company is back in profit at the half-year stage for the first time since 2008 and surprisingly for a retailer credits good weather with a surge in sales. Margins at its UK retail division are down though, because of higher costs and more items sold in sales, so its biggest division lost money. The company is focused on improving profitability while developing the brand abroad, and licensing it for clothes ranges, fragrances and spectacles.
Autologic, which transports cars, and provides other services to distributors and manufacturers, grew in its first half
Despite fewer car registrations and the earthquake in Japan, Autologic increased sales and profits in its first half. But chief executive Avril Palmer-Baunack thinks we have yet to experience the impact of government austerity measures. Although Autologic is more indebted than last year because it’s been investing in transporters, AP-B says the company has diversified and is less dependent on new car sales. It in a better position, she says, unlike the economy.
Van rental company and T30 member Northgate reports steady progress in the UK and Spain
Hire revenues per vehicle are improving or constant while utilisation is increasing. Net debt is falling. Despite difficult economic conditions, construction companies are key customers, the company is trading in line with the board’s expectations.
Fantasy toy soldier manufacturer and retailer Games Workshop releases the tersest of interim management statements
"In the three months to 28 August 2011 trading has been broadly in line with the board’s expectations."
That’s it.
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