Stock Market News
Octagonal subsidiary posts record EBITDA
AIM-quoted holding company Octagonal saw its wholly-owned trading subsidiary Global Investment Strategy improve both revenues and profit as a result of its ongoing work to improve efficiencies and reduce transaction costs in its last fiscal year.
Octagonal revealed on Thursday that GIS' was expected to post record earnings before interest, tax, debt and amortisation of £3.01m, 39% higher year-on-year, thanks to a 16% boost witnessed in sales to £6.53m and a strong net profit margin of 46%.
Elsewhere, GIS was expected to make an impairment charge in its current trading year against its remaining non-core legacy investment of £50,000 against its Level 1 investment, Inspirit Energy, reducing the carrying value of the investment to approximately £56,000.
John Gunn, Octagonal's chief executive, said, "This year has seen the continued benefit of the work we have done to streamline our operations. Margins have again improved year on year which has enabled us to deliver strong profit growth, whilst also increasing top line sales. This has come at a time of economic uncertainty, the impact of Brexit and a strengthening pound, which has a negative impact on our profits."
"The year ahead looks positive as we expect to continue seeing improvements in our operational capabilities and a greater contribution from our ancillary businesses," he added.
Octagonal's group-wide audited results were set to be announced "in due course".
As of 0910 BST, shares had shot up 20.49% to 3.19p.
Octagonal revealed on Thursday that GIS' was expected to post record earnings before interest, tax, debt and amortisation of £3.01m, 39% higher year-on-year, thanks to a 16% boost witnessed in sales to £6.53m and a strong net profit margin of 46%.
Elsewhere, GIS was expected to make an impairment charge in its current trading year against its remaining non-core legacy investment of £50,000 against its Level 1 investment, Inspirit Energy, reducing the carrying value of the investment to approximately £56,000.
John Gunn, Octagonal's chief executive, said, "This year has seen the continued benefit of the work we have done to streamline our operations. Margins have again improved year on year which has enabled us to deliver strong profit growth, whilst also increasing top line sales. This has come at a time of economic uncertainty, the impact of Brexit and a strengthening pound, which has a negative impact on our profits."
"The year ahead looks positive as we expect to continue seeing improvements in our operational capabilities and a greater contribution from our ancillary businesses," he added.
Octagonal's group-wide audited results were set to be announced "in due course".
As of 0910 BST, shares had shot up 20.49% to 3.19p.
Related share prices |
---|
Octagonal (OCT) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price