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Britain's NatWest says Q1 profit rises 36%

07:06

LONDON, May 2 (Reuters) – NatWest reported its first quarter profit rose 36% on Friday, as the British lender prepares to return fully to private hands for the first time since its state rescue at the height of the 2008 financial crisis.

The bank reported operating profit before tax for January-March of 1.8 billion pounds, up from 1.3 billion pounds in the same period a year ago and better than the average of analysts' forecasts of 1.6 billion pounds.

The government's stake in NatWest fell below 2% on Thursday, having reduced its shareholding from nearly 40% in December 2023.

Good luck all in the morning, gulp.

What a toxic post must be a lefty luddite.

Bit disappointing how long it's taking to pay down but they did mention investment grade in 2026. Not sure what debt level they need to get to to achieve that though.

Results and further debt paydown could turnaround here.

What is toxic about it?

I'm relaxed. Buying more.

From the results call:

"As l had indicated in my remarks, we are talking about potentially a $5bn additional paydown. When we start thinking about 2026 we should be beyond investment grade metrics leverage"

From the results:

Accelerated efforts to manage the debt profile during the first quarter, opportunistically refinancing $5.5 billion of debt, delivering $145 million in annualized interest savings while reducing the debt balance by another $0.5 billion.

The dividend is NOT AS GOOD as consensus, it was 0.2p down! VERY disappointing.

Feels like it wants to kiss 500p sooner rather than later.

Driving the price of oil down is good for CCL.

70% of traders lose.

Looking at the CCL debt.

I hope they pay off the following.

06/01/30 Fixed 10.50% $1bn

That could take them to $200m in savings.

Here's a reason to hang on but DYOR.

CCL Market Cap (intraday) 37.542B

RCL Market Cap (intraday) 71.326B

Carnival Corporation (CCL): For the fiscal year 2024, Carnival Corporation reported a revenue of $25.0 billion.

Royal Caribbean Cruises (RCL): For the fiscal year 2024, Royal Caribbean Cruises reported a revenue of $16.5 billion.

As the debt is paid off i'm hoping expect CCL to catchup even more.

To be clear, they already announced $18m in savings in a previous RNS hence the $98m figure.

That's $98 million in savings. I'm sure they will pay down some debt as well so further savings will i'm sure come!

WHooooooooooooooshhhhhhhhh!

Https://www.edwincoe.com/our-expertise/class-action-litigation/finablr/

I reckon £30 next year. Celebration Key should be a smash hit.