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WINNERS & LOSERS SUMMARY: Travis Perkins Slumps After Lowering Outlook

Tue, 31st Jul 2018 10:56

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - WINNERS----------Fresnillo, up 2.4%. The gold miner boosted its gold output guidance for 2018 as both interim gold and silver production rose year-on-year. For the six months to June, Fresnillo's gold output increased 4.4% to 465,299 ounces, while silver production was up 9.7% to 30,764 ounces. Fresnillo also revised its 2018 production guidance. It now expects gold production between 900,000 and 930,000 ounces, having previously guided for between 870,000 to 900,000 ounces of gold. However, silver production guidance is now lower than before, cut to between 64,500 and 67,500 ounces from the prior range of 67,000 to 70,000 ounces. Revenue for the six months to June came in a USD1.12 billion, compared to USD995.8 million a year earlier, helped by higher volumes and prices. BP, up 0.8%. The oil major reported a doubling in profit for the first half of 2018, with its Upstream business putting in a particularly strong performance. For the six months to June, BP's replacement cost profit came in at USD4.18 billion, up from USD1.97 billion in the same period a year prior. On an underlying basis, the figure was USD5.41 billion, up from USD2.19 billion. In the second quarter of 2018, RC profit was USD1.79 billion from USD553 million a year before and on an underlying basis was USD2.82 billion from USD684 million. BP posted revenue of USD143.61 billion for the six months to June, up 28% from USD112.37 billion a year prior. BP last week announced its second quarterly dividend would rise 2.5% to 10.25 US dollar cents, the first time it had increased the figure since the third quarter of 2014. ----------FTSE 100 - LOSERS----------Just Eat, down 5.7%. The online takeaway platform's shares were lower despite increasing its revenue guidance for 2018 following a strong half-year performance. Just Eat said it now expects full-year revenue of around GBP740 million and GBP770 million, up from previous expectations of between GBP660 million and GBP700 million. However, adjusted earnings before interest, taxes, depreciation and amortisation guidance remained unchanged between GBP165 million and GBP185 million. Just East also upped its spending guidance. For the six months to June 30, the group posted revenue up 45% to GBP358.4 million from GBP246.6 million year-on-year. Pretax profit was lower by 3% to GBP48.1 million from GBP49.5 million due to costs associated with the acquisition of rival online food delivery company Hungryhouse in the UK.Centrica, down 4.8%. The energy supplier reported a "resilient" first half in the face of several problems, though its consumer businesses did suffer a fall in profitability. In the six months to June, Centrica posted earnings before interest, tax, depreciation, and amortisation of GBP1.32 billion, up 7% year-on-year. However, the company's adjusted operating profit was down year-on-year, by 4% to GBP782 million. In the Centrica Consumer business, adjusted operating profit fell 20% year-on-year to GBP430 million, with the fall hardest in the UK Home segment. Centrica said in the first quarter of 2018 energy consumption rose due to the harsh winter weather in the UK, but the company was hit by the full period impact of the UK prepayment cap brought in April 2017, lower customer numbers, and higher costs.Rentokil Initial, down 1.8%. The pest control company affirmed its annual earnings guidance, raised its dividend, and said the absence of a large disposal gain led to a sharp drop in profit for the first half. The company recorded pretax profit of GBP109.5 million for the six months to June-end, down from the GBP592.9 million pretax profit recorded in the year ago period. Last year, the company benefited from a GBP462.5 million gain on the disposal of Hygiene and Workwear assets to the Haniel joint venture. First half reported revenue fell year-on-year to GBP1.18 billion from GBP1.21 billion, but revenue from continuing operations grew 14% to GBP1.17 billion. The company lifted its interim dividend per share by 15% to 1.311 pence.----------FTSE 250 - WINNERS----------Provident Financial, up 13%. The subprime lender appointed a new chairman, reconfirmed its intention to restore its dividend and said that a weak performance in the core consumer credit division led to a drop in first half pretax profit. Provident named former Aviva Chief Executive Patrick Snowball as chairman, replacing interim chairman Stuart Sinclair, who intends to retire. Snowball will take over as chairman on September 21. For the six months to June 30, Provident Financial posted pretax profit of GBP34.6 million, down sharply from GBP90.0 million a year before, on a revenue of GBP572.5 million and GBP619.4 million, respectively. However, Provident Financial intends to declare a nominal final dividend for 2018, it said.IMI, up 7.8%. The engineer said its first-half profit and revenue increased as it expects its full-year results to be slight ahead of expectations. The company increased pretax profit in the six months ended June by 5% to GBP93 million from GBP89 million. IMI's revenue in the first half increased 8% to GBP914 million from GBP848 million the year before. The company's first-half results were ahead of expectations due to progress from its Critical Engineering and Precision Engineering divisions. Looking ahead, the company believes its outlook remains positive. IMI expects its organic revenue and profits to "show good improvement" compared to last year.Greggs, up 7.3%. The pasties, sausage roll and sandwich maker said it delivered a "resilient performance" in the first half of the year despite challenging market conditions, registering both revenue and profit growth. For the six months to June 30, the UK food-on-the-go firm's total sales increased 5.2% to GBP476 million, with the impact of the severe weather conditions at the beginning of the year on customer footfall being the "most significant factor affecting the first-half performance". The company described its half-year performance as "resilient", with pretax profit up to GBP24.1 million from GBP19.4 million. The company lifted its interim dividend by 3.9% to 10.7 pence per share.Vedanta Resources, up 4.8% at 817 pence. the Indian miner confirmed it has reached an agreement for a cash offer for the rest of its shares from majority shareholder Volcan Investments. Volcan, which already owns just under 67% of Vedanta and is controlled by Executive Chairman Anil Agarwal, has offered USD10.89 per Vedanta share, equivalent to approximately 825 pence. The offer values Vedanta in total at USD3.07 billion, and the stake Volcan is now buying is worth around USD1.03 billion. Coats Group, up 4.8%. The industrial thread maker said it expects to deliver a full-year 2018 performance "slightly ahead" of previous management views after half-year revenue growth. In 2017, company reported pretax profit of USD142.9 million on revenue of USD1.51 billion. For the six months to June 30, Coats said revenue rose 6.5% to USD788 million from USD740 million year-on-year. The company lifted its interim dividend by 14% to 0.50 cents per share from 0.44 cents paid to shareholders last year.----------FTSE 250 - LOSERS----------Travis Perkins, down 11%. The builders' merchant swung to a pretax loss in the first half of 2018 and said that annual adjusted earnings will be at the bottom end of market views. The company, which operates Wickes and Toolstation branded chains of DIY stores in the UK, recorded a pretax loss of GBP123.4 million for the six months to June 30, compared with pretax profit of GBP167.6 million a year ago, on a revenue of GBP3.36 billion and GBP3.22 billion, respectively. Adjusted pretax profit - the company's preferred measure - dropped to GBP167 million from GBP175 million. The swing to loss was attributed to weak kitchen and bathroom sales, higher impairment costs and higher sales of lower margins products. It now expects 2018 earnings before interest, taxes and amortisation to be in the lower half of the range of analyst expectations.----------OTHER MAIN MARKET AND AIM - WINNERS----------4imprint Group, up 7.4%. The promotional products marketer increased its interim dividend by 15% after reporting revenue growth in the first six months of the year. The group proposed a dividend of 15.85 pence per share in respect of the six months to June 30, 15% higher year-on-year from 13.80p. Revenue for the half-year increased 17% to USD348.3 million from USD298.9 million year-on-year, while pretax profit was "essentially flat" at USD15.9 million compared to USD15.7 million recorded a year ago.----------
More News
17 Apr 2024 11:16

Just Eat shares drop as Q1 orders disappoint

(Sharecast News) - Shares in Just Eat dropped sharply on Wednesday after the food delivery marketplace delivered underwhelming order numbers for the first quarter, though revenue growth picked up sharply in the UK and Ireland.

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28 Feb 2024 07:43

Just Eat guides to strong profit growth in 2024

(Sharecast News) - Takeaway group Just Eat delivered adjusted profits ahead of its own forecasts for 2023 and predicted a 39% jump in earnings this year as gross transaction value (GTV) excluding North America returned to growth.

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17 Jan 2024 07:46

Just Eat lifts full-year core profit outlook

(Sharecast News) - Just Eat Takeaway said on Wednesday that 2023 core profit was set to be ahead of guidance, following a strong fourth-quarter performance in Northern Europe and the UK and Ireland.

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26 Jul 2023 07:44

Just Eat delivers interim profit; CFO quits

(Sharecast News) - Meal delivery company Just Eat Takeaway.com swung to a profit at the half-year and said chief financial officer Brent Wissink would step down next May "to pursue other opportunities".

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21 Mar 2023 13:24

Just Eat to lay off 1,700 delivery drivers

(Sharecast News) - Food delivery firm Just Eat Takeaway is reportedly planning to axe around 1,700 delivery drivers amid a slowdown in demand.

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1 Mar 2023 08:11

Just Eat posts wider-than-expected FY loss

(Sharecast News) - Food delivery giant Just Eat Takeaway posted a wider-than-expected full-year loss on Wednesday despite seeing revenues increase due to increased spending levels.

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18 Jan 2023 08:51

Just Eat turns EBITDA positive in H2

(Sharecast News) - Food delivery giant Just Eat revealed on Wednesday that it had turned EBITDA positive in the second half of the year amid an increased focus on profitability during the period.

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16 Jan 2023 07:22

Just Eat partners with Sainsbury's for new delivery offering

(Sharecast News) - Food delivery group Just Eat has launched a new partnership with grocery giant Sainsbury's, marking the platform's second tie-up with one of the UK's "Big Four" grocers.

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17 Nov 2022 07:31

Just Eat agrees grocery deal with Getir

(Sharecast News) - Just Eat Takeaway.com has struck a Europe-wide partnership deal with Turkey's Getir, the grocery delivery firm.

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10 Jun 2022 07:50

Just Eat's US wing attracts interest from private equity firms

(Sharecast News) - Food delivery giant Just Eat's US wing has attracted preliminary interest from private equity firms, including Apollo Global Management.

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20 Apr 2022 08:47

Just Eat considers sale of Grubhub as orders dip

(Sharecast News) - Just Eat said on Wednesday that it was considering the partial or full sale of Grubhub as it reported a dip in first-quarter orders and cut its guidance for the full year.

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2 Mar 2022 08:22

Just Eat loss smaller than expected, to exit Norway Portugal

(Sharecast News) - Meal delivery company Just Eat Takeaway.com, reported a smaller-than-expected annual loss core loss on Wednesday and said it was exiting Norway and Portugal

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8 Feb 2022 08:36

Just Eat to delist shares from Nasdaq

(Sharecast News) - Food delivery platform operator Just Eat Takeaway revealed on Tuesday that it will delist its shares from the Nasdaq as part of an effort to cut both costs and regulatory burdens.

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12 Jan 2022 08:47

Just Eat FY orders and gross transaction value increase in 2021

(Sharecast News) - Online food delivery platform operator Just Eat Takeaway said on Wednesday that orders grew 33% year-on-year in 2021 to 1.1bn and gross transaction value increased 31% to €28.2bn.

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25 Oct 2021 10:32

Cat Rock Capital urges Just Eat Takeaway.com board to sell or spin-off Grubhub by end of year

(Sharecast News) - Investment firm Cat Rock Capital Management has sent a letter to the board of Just Eat Takeaway.com, urging it to sell or spin-off Grubhub by the end of the year in order to refocus the business and address the "deep and damaging undervaluation" of its equity.

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