Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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Pleased with the results....also Booker group one of the best purchases tesco has made ...gla
That was worth listening too! In a cost of living crisis when people have to buy food, any retailer has to be somewhat sensitive if they experience an "exceptionally strong performance". They are gaining market share against their main full service rivals and increasing their price matches against the discounters, particularly in food including Bookers. Online is growing too and in the UK they are benefitting from the switch to "eat in" rather than "eat out" with the higher value customer growing and buying more of "Tesco's Finest". Even poor performing Hungary may be facing less headwinds in the year ahead.
So with sales and margins growing the inevitable is happening profits are up and cash is flowing in. They have upped their guidance for the full year but don't want to brag about it. The CFO (Imran Nawaz) could hardly disguise his smile when asked about cash flow. They are at the bottom end of their desired gearing ratio, savings are coming through and, yes, cap-ex has been pushed to the top end of their indicated range but still the cash keeps coming. Imran said there would be a "progressive dividend" but would not be drawn on extending or increasing the share buy-back programme which has about £0.25b to go by April 2024.
They can't be seen to be overjoyed at the way things are going because critics will say they are exploiting the public but if their important Christmas trading is in line with the progress during the year so far they will surprise on the upside. Clubcard is working for them, Woosh is working for them Banking is working for them.....I have re-rated them to a weak buy even after this mornings gain.
I would say that if you want to see where the real profits are being made, look at the suppliers.. the likes of ulvr have had bumper years this year.
Excellent results off Tesco but if the numbers are up across the likes of banking and supermarkets then ultimately it's the consumer they are profiting from and that has been paying for it, either through increased food prices, mortgage and loan rates and petrol prices on their forecourts. I do like the way though that they are convincing the market it is otherwise.
I will tune into the 9 a.m. online presentation and if anything significant is said on the dividend or outlook in general I will post again.
And this is during a cost of living crisis.
That is a stellar set of interim results.
Final divi must surely increase.
I've gone for 4p too.
Hoping to hear an update on the sale of the banking division.
Hoping for a 0.5p interim dividend tomorrow but likely to be 0.4p. Any thoughts?
Myquite - As you know Every Little Helps, Jesus 5 posts in a week we may have started a trolley run!
Well you two have certainly spruced things up eh!! LOL
Bobabout aint that for sure it's as lame as Starmer's name has been mentioned!
The chat on this Site is as Glacial as the share price. Feel it needs some Movicol to get things moving.
Ojogger,
You have to take into account that anything with Morgan in it is Toxic, whether JP or Stanley or Piers.
Sunday Times article indicates Tesco are on look out to utilise
Clubcard Data buy monetise with organisations who consider this useful.
Does this have any traction to SP because it is totally different to Booker deal?
Any thoughts on the drop today ? Anything to do with the drop in inflation ? Apparently food prices have dropped but Sainsburys gained today. People booking profits and we’ll be back on the rise again or have we run out of steam and a reversal is coming ?
You are Spot. On that Warren buffet basket off when he found out the books had been cooked I think that was in Cat's years back in 2014. If Monger had a look today compared to Cosco I think he might trolley in at least for an appetizer ;-)
Sorry JP Morgan
Morgan Stanley downgrade
Anyone idea why the drop?
its not xd day
there is an rns out, i dont understand it, it looks as though directors bought shares.... but just a few each, 52 or so ..??????
Tesco SP has risen because Market Share rose in comparison to other UK Supermarkets.
Benefits of Clubcard prices matching Aldi / Lidl
Over 5 and a half million shares bought back in 3 days and the price hasn't risen significantly.
its being held back so they can get them cheap.
Its going up now as inflation eases although it does look like it being manipulated around the 2.49 mark at the moment.
It's going down because you can now get a better return on the bond market.
Tesco SP is up @ this time.
The big supermarkets have been cleared of excessive profitering.
The main culprits are the large suppliers supplying supermarkets.
Tesco is champion on taking on these suppliers.