Further to this months screening, as expected we have had final results from VP plc today. These appear to be slightly ahead of forecasts with revenues coming in at £303.6m versus forecasts of just less than £300m and basic eps pre amortisation at over 81.8p versus a consensus forecast of around 79p. the dividend was raised by 18% to 26p which was also slightly ahead of the forecast 25.3p or so.
Thus it looks like they made sure they could slightly exceed expectations and despite market uncertainties they say that they - "...look forward to the new financial year with confidence."
So they look fine on a prospective 10x PE with a 3% yield as another year of strong growth is forecast, but we'll have to wait and see if these results lead to any changes to forecasts which will feed through to the Score next month.
The shares having had a good run into the figures may pause for breathe as they are approaching the top of their recent trading range between 800p and 940p or so which may act as resistance. Given the valuation and the outlook however, I wouldn't be surprised to see them breaking out to the upside in due course if not today.
Mid morning update - the figures seem to have been well received and the shares are currently up by about 5% - so maybe breaking out already. I also saw a note from Equity Development where they upgraded their numbers to 95p with a 30.2p dividend which compares to 93.7p & 29.2p consensus. They also raised their price target to 1070p for what that's worth, although reinforces the breakout theory.