logo
  

Intermediate Capital Annual Profit Before Tax Rises, Announces Special Dividend

Intermediate Capital Group plc (ICP.L), a specialist asset manager, Wednesday said full-year profit before tax rose 9 percent to 178.5 million pounds from 164.4 million pounds in the previous year.

Adjusted group profit before tax was 184.1 million pounds, while it totaled 175.1 million pounds in the prior year.

Earnings per share jumped to 50.3 pence from 37.0 pence.

Total revenue dropped to 426.2 million pounds from 463.5 million pounds last year.

Return on equity was 11 percent, compared to 10.2 percent last year.

The board proposed a 300 million pounds special dividend for 2015 and reaffirmed its commitment to increasing the group's return on equity to over 13 percent through growth and, by July 2016, re-gearing the balance sheet to within a range of 0.8 - 1.2 times.

The board also recommended a final ordinary dividend up 4.9 percent to 15.1 pence per share.

Looking ahead, the company said, "Overall, we are well placed to continue to deliver our strategic objectives and generate improving returns for our shareholders."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
While reporting financial results for the first quarter on Wednesday, medical devices company Boston Scientific Corp. (BSX) raised its adjusted earnings and net sales growth guidance for the full-year 2024. For fiscal 2024, the company now projects earnings in a range of $1.43 to $1.48 per share and... Shares of Roche Holding AG were losing around 3 percent in Switzerland after the drug major reported weak sales in its first quarter and confirmed fiscal 2024 outlook. Excluding COVID-19-related products, quarterly sales increasedy 7 percent. For fiscal 2024, Roche continues to expect an increase in group sales in the mid single digit range at constant exchange rates. Dr. Reddy's Laboratories Ltd. is recalling six lots of Sapropterin Dihydrochloride Powder for Oral Solution 100 mg to the consumer level. According to the U.S. Food and Drug Administration, the recall was due to powder discoloration in some packets leading to decreased potency.

This week, we feature Nigeria’s combat with meningitis, Hostile takeover bid for Vanda Pharma, US opioid crisis, Sammy’s Milk’s safety concerns, and X4’s Mavorixafor’s fast-track status.

View More Videos
Follow RTT