Shares fell 7.6% to 24p in reaction.
Bilby reported pre-tax profit of £2.5mln for the year to 31 March, down from £5.8mln a year ago. Revenue fell to £69.6mln from £78.8mln last year.
Its P&R business, which supplies gas heating and maintenance services, recorded an underlying loss of £2.1mln due to two loss-making contracts with Carillion Amey and East Kent Housing.
P&R recently gave notice to end its contract to supply building maintenance services for UK Ministry of Defence properties, which is still subject to dispute.
1.00pm: Clinigen gains as CFO buys £35K in shares after 2019 profits jump
Adjusted gross profit rose 30% to £182.3mln on revenue up 20% to $456.8mln in the year to 30 June.
The pharmaceuticals firm said future organic adjusted gross profit is targeted to grow by at least 5% to 10%, with 2020 expected to be towards the upper end of this guidance.
CFO Nick Keher purchased nearly £35,000 worth of shares following the results.
Shares rose 4% to 920p.
11.30am: SAGA rallies as it reports progress on turnaround plan
SAGA PLC (LON:SAGA) shares moved higher as first-half profits halved but the company said a plan to turn around the business was starting to pay off.
The firm, which specialises in products for the over 50s, saw profit before tax fall to £52.3mln in the six months to 31 July from £109.7mln a year ago.
Chief executive Lance Batchelor said the group was making good progress in its strategy to improve its performance, including “encouraging” sales of the group’s new three-year fixed price insurance product.
Shares were up 7% to 48.62p.
The firm, which develops products for the self-care market, said in its interim results: “To ensure our product supply to the UK market remains uninterrupted, we prepared ourselves for a possible Brexit impact in March 2019, which entailed minor cost.
“We are preparing for a similar situation in October 2019, chiefly by ensuring that there is adequate stock in the UK and that our international manufacturers are able to continue supply in the short term.”
9.30am: Charles Taylor shares surge as it agrees £261mln deal to be taken private
Jewel Bidco Ltd has offered 315p per share in cash to take Charles Taylor private, valuing the business at £261mln.
The offer represents a 34% premium to the company’s closing share price on Wednesday.
Charles Taylor’s shares surged 36% to 321p on the back of the announcement.
The company, which provides electronic and physical security systems, said profit from continuing operations came to £292,000 in the year to 30 April. That compares to last year’s loss of £1.9mln.
Turnover grew 22% to £19.5mln and gross margins improved to 39.7% from 36.1%.
Its shares gained 14.8% to 0.78p.
The company said that various Department for Transport franchising decisions during 2019 have affected the timing of some orders.
Pre-tax profit in the first six months of the year plunged to £206,000 from £514,000 the year before on turnover that fell 8% to £8.9mln from £9.7mln.
The City Pub Group PLC (LON:CPC) shares sank 9.2% to 197.5p after warning that it rein in its expectation plan due to political and economic uncertainty.
The group, which owns posh pubs such as The Jam Tree in Chelsea and Clapham, said it “will take a much more prudent and even more selective approach” to acquisitions and focus instead on completing development exiting sites, reducing debt and improving dividends until there is more certainty.
“We cannot ignore the uncertainty in the market due primarily to Brexit and the potential impact of a no-deal,” said executive chairman Clive Watson.
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The City Pub Group PLC (LON:CPC) has reported an almost 20% rise in profits for its first half as it shifted its focus toward developing its pub estate and improving dividends for investors.
hVIVO PLC (LON:HVO) said it is primed for profitability next year. The projection was made alongside interim results that revealed £11mln of costs have been extracted from clinical development services business since 2017.
Renewable power provider SIMEC Atlantis Energy Limited (LON:SAE) said it achieved its best-ever operating results at its MeyGen tidal power project. Revenue for the first six months of the year increased to £2mln from £1.3mln the year before, with the majority of the revenue coming from MeyGen power sales.
Verona Pharma PLC (LON:VRP) will present positive interim data from a Phase 2 trial with its dry powder inhaler formulation of ensifentrine in chronic obstructive pulmonary disease at the European Respiratory Society International Congress a week on Sunday. As announced in March, the magnitude of improvement in lung function and duration of action were highly statistically significant and support twice daily dosing of ensifentrine for the treatment of COPD.