Dixons Carphone Pulls Out of Spain
Dixons Carphone plc DC. has agreed to dispose of its entire holding in The Phone House Spain for 55m Euro less adjustments. Not a single reason, good bad or indifferent, is given for the withdrawal. Hays plc HAS produced a record net fee performance for the quarter to 30th June, its 17th consecutive quarter […]
Brexit Fears Grow Over Freedom To Fly
Dart Group DTG is aware of the uncertainty surrounding Brexit negotiations and the effect which the outcome of these could have, especially on the extent of its “freedom to fly”. For the year to 31st March revenue rose by 23% and the proposed final dividend is to be increased by 26%. Profit before tax for […]
Barratt, Eddie Stobart, Robert Walters and Wetherspoons all upbeat
Barratt Developments BDEV is upbeat on trading, and reports total completions of 17,395, the highest level of completions in nine years. PBT is expected to beat current expectations at around £765m (2016: £682.3m), and year end net cash balance of around £720m is also ahead of guidance, driven by strong performance and the timing of […]
Marks Surrenders to Sainsbury
Marks & Spencer MKS is giving little away in its first quarter results for the 13 weeks to the 1st July. The subdued tone certainly seems to indicate a surrender to Sainsbury at least for the time being. The quarter did at least see an end to discounting in Clothing & Home, whilst Simply Food […]
Carillion Rings Out Warnings
Carillion CLLN has been forced to suspend 2017 dividends and issue warnings that first half profits and revenue will be lower than expected and overall performance will be below management expectations. Borrowings will also increase to such an extent that immediate action is required to accelerate the reduction in average net borrowings. Public Private Partnership […]
Solid trading from Aveva and Fenner – yet another placing from blur Group
AVEVA Group AVV reports a solid start to the financial year and expects the phasing of revenue in FY 2018 to be broadly similar to the prior year. The full year outlook remains in line with board expectations. blur Group BLUR announces yet another placing to raise a minimum of £1.5m (before expenses) at 1.75 […]
Is Primark Ex Growth ?
Associated British Foods ABF freely admits that it has been a major beneficiary of sterling weakness over the 40 weeks to the 24th June. Group revenue during the period grew at constant currency rates by 10% but on an actual exchange rate basis it was double that at 20%. Third quarter underlying operating performance was […]
Hipgnosis Songs Fund – Another brick in my investing wall
As a long standing fan of all things prog rock, and with a penchant for great British acts such as Pink Floyd, Genesis, Peter Gabriel and Led Zep, today is the day when I must decide whether or not to invest into a company responsible for producing the iconic cover for Dark Side of the […]
Ocado – English As A Foreign Language
Ocado Group OCDO got so bogged down in jargon in its half year results to the 28th May that one can easily believe they must have done it deliberately purely to show how clever they are compared to those of us who can only speak ordinary English which everybody else understands. Thus the report is […]
Sainsbury’s Lesson in Retailing
Sainsbury J. SBRY put in a strong performance during the quarter to the 1st July with retail like for like sales growing by 2.3% and grocery sales by an even larger 3%. Online grocery sales surged by 8%. In General merchandising and Clothing, Sainsbury outperformed the market and this was not a one quarter flash […]