Epic posts finance income, Jamris winds down

Turnover at this Angolan extraction joint venture retreated 20% to £1.74bn, moving operating profit down to £1.17bn. The bottom line was further reduced by a £469.1m tax charge and £63.5m in finance costs. It is a leaner year, but a 67% operating margin remains the sort of cushion you can nap on.

Top-line growth of 33% at the British arm of the Fortnite developer was not enough to clear an operating loss, which narrowed to £26.1m as administrative expenses expanded to £565.7m. The group reached a £14.6m net profit below the line, with a £45.3m finance income credit bridging the gap. Headcount edged up to 1,384 while total staff costs rose 9% to £390.1m.

The wealth manager's principal UK entity rebounded, turning a £99.7m operating loss into a £69.2m profit. This recovery materialised as turnover climbed 24% to £1.63bn and administrative expenses were reduced by 34% to £136.5m. Meanwhile, total remuneration for the highest-paid director decreased to £474k.

Acting as the central employment vehicle for the pharmacy group, this entity functions largely as a pass-through. Turnover rose 9% to £1.27bn, matching the combined cost of sales and overheads to leave a 5% gross margin that falls straight to the operating line. The filing notes all receivable and payable balances with the wider group were settled to nil ahead of a recent acquisition.

An example of capital-light routing from the British wholesale arm of the South Korean semiconductor giant. Just twelve employees oversaw $1.08bn in turnover this year, effectively recording $90m of revenue per head. Margins are predictably narrow for this sort of structure, leaving an operating profit of just $1.42m.