WANdisco announced today the addition of Ramki Thurimella Ph.D as VP of Research in the company’s Silicon Valley headquarters. Ramki will be working in Fusion Kernel which looks at new use cases for the Company’s patented Distributed Coordination Engine™ (DConE) and their transformation into successful commercial products.
Production in the quarter was 14 per cent higher than the previous quarter (Q3 2017) which was itself a record production quarter, and 21 per cent higher than the corresponding quarter of 2016 (Q4 2016). All production numbers are expressed on a 100 per cent basis and are subject to adjustment following final assay at the refiners.
Laurence Read has assumed the role of Chief Executive Officer (“CEO”) of the Company following the resignation of Dr. Bernard Olivier. The Company is progressing a revised funding and partnering strategy to identify and secure appropriate development funding for its gold-platinum production project in Choco, Colombia and is also renewing its focus on realising potential value from the other assets in its portfolio comprising the Mankayan copper-gold project in the Philippines and a copper exploration project in Argentina.
New agreements signed with MediaMarktSaturn (Germany) and 8tracks (US) provide new revenues for 2017 and 2018, while progress has been made with other client services including Altair Engineering (US), Deedo (pan Africa & France) and Klassik Radio (Germany).
The Company had a good finish to the year, in line with the Board’s expectations. Both order intake and revenue growth has been strong across all regions. XPP enters 2018 with positive momentum and therefore expects to grow orders and revenue in 2018 above that in 2017. Order intake and revenues were ahead of 2016 numbers on a constant currency basis and trading the performance of recent acquisition Comdel was in line with expectations.
WPP announces that Kantar Consulting, a subsidiary company, has acquired Mash Strategy Limited, a London-based brand strategy and growth consultancy. This acquisition continues WPP’s strategy of investing in important markets and sectors. Mash provides integrated consulting services covering growth strategy, insight, innovation and brand transformation.
Group Gross Transaction Value (GTV) over peak trading period grew 5.2% y-o-y for the group, driven by strong growth in Spain. Growth in GTV and positive developments in BELONG, Esports and events segments, and strong liquidity with Group cash of £67m and approximately £86m available through credit facilities.
Group builds on record financial performance in H117 and expects FY17 financial performance to be ahead of previously upgraded pre and post-tax expectations. The Board remains cautious about the UK car market in 2018.
Group trading remains in line with previous guidance and Ultra enters 2018 with an improved order cover of around 62%. Search for new CEO is underway. Full year revenue is expected to be over £770m and underlying operating profit just over £120m. The current expectations for 2018 are modest progress in underlying revenue and operating profit and strong cash conversion at 80-85%.
Sea Lion project continues to move toward sanction at the end of 2018. Abu Sennan production stable at 3.8kboepd. Arbitration hearing scheduled against Republic of Italy in relation to Ombrina Mare project.
Excellent data quality from 3D survey at the Tugrug Basin. Company postpones planned 2D survey. All the Company’s technical objectives were met during the 3D acquisition and preliminary processing (in field) has confirmed excellent data quality at the Tugrug Basin.
Trading Update; trading in line with expectations for current year
Overall, Carr’s is trading in line with the Board’s expectations for the current financial year and significantly ahead of the prior year in both Agriculture and Engineering. The Group’s financial position remains strong.
Company expects a beneficial impact from US tax reforms. FY 2017 effective tax rate is expected to remain at 30%, but expected to settle just above 20% from 2018 onwards, increasing EPS and improving cash flow.