The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Up nearly 6% as I write.
Thu, 9th Mar 2023 07:00
RNS Number : 3492S
Vanquis Banking Group PLC
09 March 2023
Vanquis Banking Group plc
Non-Executive Director Appointment
9 March 2023
The Board of Vanquis Banking Group is pleased to announce the appointment of Michele Greene as a Non-Executive Director of the Company with effect from 9 March 2023. Following her appointment, Michele will become a member of the Nomination, Risk and Customer, Culture and Ethics Committees.
Patrick Snowball, Chairman of Vanquis Banking Group, commented:
"I am delighted to welcome Michele to the Board of Vanquis Banking Group and look forward to working with her. Michele brings significant experience across technology, banking, and payments as we continue the development of the organisation as a specialist banking group with a focus on customers in the mid-cost and near-prime markets."
Michele is a highly experienced finance professional at executive and Board level. She has held senior roles at Virgin Money and MBNA Europe Bank and, prior to that, she worked across various finance functions at Goldman Sachs, Credit Lyonnais and KPMG Dublin. At Virgin Money, Michele was Director of Strategic Development, where she was responsible for establishing a credit card business on a newly built IT platform and was subsequently appointed as the Managing Director of the Virgin Money Digital Bank. Prior to that she was the Chief Financial Officer of MBNA Europe Bank between 2005 and 2013.
Michele is currently Executive Director and co-founder of Mololo Limited, a boutique advisory company specialising in helping companies in the payments and unsecured lending space. She also holds Non-Executive Director seats at Bank of Ireland plc, Fair Finance and Davy Financial Services Group.
Michele Greene commented:
"I am really excited to be joining Vanquis Banking Group as a Non-Executive Director at such an exciting time in its strategic repositioning as a specialist banking group. I am looking forward to helping the Group in its next phase of growth and development, whilst helping to maintain its strong sense of purpose and promotion of financial inclusion for its customers."
Vanquis Banking Group PLC
GBX 227.20
4.03%
+8.80 Today
Mar 6, 8:14:18?AM UTC · GBX · LON
From Reuters.com
Net debt came down to 10.38 billion euros from 11.6 billion in 2021. But, IAG's debt remains higher than its market capitalisation and more then three times its EBIDTA, which analysts said has spooked the market.
Mick McManus the man you love to hate and Jackie Pallo were kings.
I can see my dividend less the 15% withholding Luxembourg tax in my IWEB account awaiting re-investment. If I get my stake back but a bit to go I will exit.
Read this on simplywall.st
REWARDS
Trading at 17.6% below our estimate of its fair value
Earnings are forecast to grow 2.49% per year
RISK ANALYSIS
Has a high level of debt
Unstable dividend track record
From afr.com
Australia’s biggest gold miner, Newcrest Mining, is in the crosshairs of a major global producer, with talks under way to fold the $20 billion Australian company into a North American counterpart.
It is understood Newcrest’s board has received an early-stage approach to buy the group, and has called in financial and legal advisers to help assess whether the proposal would be in shareholders’ interests.
Toronto-based Barrick Gold and US-based Newmont Corporation, both of which have long associations with gold mining in Australia, and Canada’s Agnico Eagle Mines, are the most logical suitors.
Newcrest chairman Peter Tomsett.
The three are the biggest gold producers globally, and are well known to Newcrest’s board and its institutional shareholders. None of the global players has an ASX listing, and could use a Newcrest merger or takeover as a way to tap into Australia’s investment markets.
Miners will be closely watched at the open after gold producer Newmont made a $16.9 billion bid for Australian peer Newcrest Mining, the bid at a 21% premium to the pre-announcement price.
Someone said wrong thing?
Don’t think I would go there.
POLYMETAL 2022 PRODUCTION IN LINE, MULLS KAZAKH MOVE
(Sharecast News) - Russia-focused gold miner Polymetal said 2022 production met guidance and said it had made progress on plans to re-domiciling its parent company to a jurisdiction deemed to be "friendly" by Moscow.
The company on Wednesday said production in 2023 would be flat, with higher costs.
Polymetal said a re-domiciliation into Kazakhstan's Astana International Financial Centre (AIFC) was its preferred option, tgiven its "significant operations and presence in the region", along with the AIFC legal system and tax regime.
It added that if it moved to the AIFC, the Company's primary listing may move to the Astana International Exchange, but stressed no decision had been taken.
Polymetal's gold-equivalent production grew 2% last year to 1.71 million ounces, in-line with original production guidance of 1.70 million ounces.
Revenue fell 3% to $2.80bn, while cash costs were forecast to be within original guidance of $900-$1,000 per gold-equivalent ounce.
Current-year production would be 1.7 million gold equivalent ounces, and total cash costs would rise slightly to $950-$1,000 an ounce, reflecting domestic inflation, a stronger rouble, and royalty increase in Kazakhstan.
Reporting by Frank Prenesti for Sharecast.com
I criticised you for putting up prices over 10% in October. Latest example - they have imposed big price rises at the checkout, hiking the price of Hellmann’s mayonnaise by 42 per cent from £1.75 to £2.49
Now ffs
https://www.thisismoney.co.uk/news/article-11661883/Greedflation-Giants-brands-Heinz-soup-Head-Shoulders-hike-prices-73.html
GBX 344.00
8.72%
+27.60 5D
Jan 17, 9:20:59 AM
Was above 345
From Proactiveinvestors this morning :
B&M European Value Retail SA (LSE:BME) reported an uptick in sales in its third quarter as it announced a special dividend payment.
Revenues in the three months to 24 December 2022 grew 12.3% year-on-year to £1.56bn, the budget retailer said.
"Our strong momentum throughout the Golden Quarter across the businesses demonstrates the strength of our unchanged strategy to relentlessly focus on price, product and excellence in retail execution,” said chief executive Alex Russo.
B&M said, consistent with its capital allocation framework, it intends to declare a special dividend of 20p to be paid to shareholders on 3 February, although this is less than the 25p paid last year.
Additionally, the group narrowed in on its adjusted underlying earnings (EBIDTA), which is now expected to be between £560mln and £580mln for the year, compared to previous guidance of £550mln to £600mln, and ahead of analyst forecasts of £557mln.
“The business has exited the quarter well and will remain focused on disciplined execution,” Russo added.
Third-quarter revenue in its UK business, including B&M Express, grew 10.3% year-on-year, with the group having an additional 12 locations compared to the same period last year.
B&M France reported revenue growth of 24.9% year-on-year, while its Heron Foods division grew sales by 22.5%.
Russo added that B&M will continue to help new existing customers during the cost of living crisis despite the challenging macroeconomic environment.
B&M said stock discipline remained robust, which allowed for a stock reduction of roughly £100mln year-on-year.