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WINNERS & LOSERS SUMMARY: Fulham Shore Rises As It Eyes Expansion

Thu, 28th Mar 2019 10:50

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.----------FTSE 100 - WINNERS----------Imperial Brands, up 2.5%, British American Tobacco, up 2.2%. The tobacco stocks were upgraded to Buy from Neutral by Citigroup. Imperial Brands on Wednesday said annual revenue and profit would be restricted by substantial investment into vaping, but gave an optimistic view on its earnings guidance. ----------FTSE 100 - LOSERS----------Schroders, down 2.3%, Prudential, down 1.9%, British Land, down 0.6%. The stocks went ex-dividend meaning new buyers no longer qualify for the latest dividend payout. ----------WM Morrison Supermarkets, down 0.7%. Bernstein cut the supermarket chain to market perform from Outperform. ----------FTSE 250 - LOSERS----------888 Holdings, down 5.0%. The gambling stock went ex-dividend.----------Sabre Insurance Group, down 3.5%. The motor insurer's shares were down despite reporting a rise in annual profit and proposed a special dividend payment on improved capital. The company also said that will continue to focus on prioritizing underwriting profitability over premium growth. For 2018, the car insurance company reported an 11% increase in pretax profit to GBP61.4 million from GBP55.5 million the year before. However, adjusted pretax profit fell to GBP61.9 million from GBP63.9 million in 2017, reflecting investment costs and exceptional charges. Sabre's total income increased by 1.6% in 2018 to GBP194.9 million from GBP191.8 million in 2017. The company's gross written premiums were flat in 2018 at GBP210.0 million, with net earned premiums rising slightly to GBP188.2 million.----------Metro Bank, down 1.7%. Barclays started coverage on the challenger bank with an Underweight rating. ----------OTHER MAIN MARKET AND AIM - WINNERS----------Fulham Shore, up 12%. The Real Greek and Franco Manca restaurant chains operator said it expects both revenue and earnings ahead of the previous year, due to increased customer numbers in existing and new restaurants. For the financial year ending on Sunday, the group said both Franco Manca and The Real Greek have each quarter "steadily increased their turnover" compared to a year before, leading to a "particularly strong trading performance" towards the end of the year. For the year ended March 2018, Fulham Shore posted revenue of GBP54.7 million and adjusted earnings before interest, taxes, depreciation and amortisation of GBP5.6 million. The company will end the year with 61 restaurants, of which 45 are Franco Manca and 16 The Real Greek. However, it is planning to ramp-up openings for both Franco Manca and The Real Greek. Over the coming year, the company plans to establish a dividend policy which will reflect the board's continued confidence in the company's outlook.----------7digital, up 10%. The digital music and radio platform said it signed deals with both Access Co and Dubset Media. 7digital's "significant partnership" with Access will see 7digital pre-integrate its internet radio services and programming interface into Access's recently launched "Access Twine for Car" platform. The platform is a multimedia content service for car manufacturers that allows passengers to access the latest entertainment, bringing a wider range of audio services to drivers, and enabling internet radio to integrate with existing broadcast services. The financial terms for this partnership were undisclosed.----------OTHER MAIN MARKET AND AIM - LOSERS----------Debenhams, down 19%. The troubled department store chain said that a majority of its noteholders agreed to the amendments proposed last week, allowing the company to proceed with a proposed GBP200 million fundraise. Debenhams said that the requisite consent level was achieved hours before the solicitations process was due to close. The conclusion of the solicitation process suggests a potential end to sportswear retailer Sports Direct International's plans to acquire Debenhams. Sports Direct, which holds a 29% stake in Debenhams, on Wednesday priced a potential offer for the remaining shares of Debenhams it does not hold at 5p each, valuing the firm GBP61.4 million. The offer, however, was conditional on Debenhams terminating the noteholder consent solicitation process as well as appointing Sports Direct boss Mike Ashley to its own board in the role of chief executive officer.----------

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