Member Info for livestock

Strikes are looking to disrupt the Easter get away at Heathrow

LONDON, Feb 24 (Reuters) - British Airways-owner IAG (ICAG.L) reported on Friday its first annual profit since the pandemic and said earnings could jump almost 90% this year as business rebounds, but its shares dropped around 6% amid concerns about the group's debt.

The group's operating profit in 2022 was 1.22 billion euros ($1.29 billion) and overturned two years of COVID-driven losses. CEO Luis Gallego said IAG, which also owns Iberia, Vueling and Aer Lingus, was seeing robust forward bookings.

https://www.reuters.com/business/aerospace-defense/ba-owner-iag-returns-profit-2022-2023-02-24/

Share price has dropped again today buyback going well

https://www.cityam.com/british-airways-pays-e400m-to-swoop-up-remainder-of-spanish-airline/

Lloyds Banking Group has been accused of “stuffing the pockets of already overpaid bankers” after proposing increases for top bosses that could result in a £9.1m payout for its chief executive, Charlie Nunn.

The bank revealed on Wednesday that staff would share a £446m bonus pot – the highest in four years – for their work in 2022, despite reporting flat annual profits, after an increase in the money put aside for a potential jump in defaults.

https://www.theguardian.com/business/2023/feb/22/lloyds-bankers-bonus-pot

IAG returns to profit, upbeat on 2023 outlook
British Airways and Iberia owner IAG hailed 2022 as a year of strong recovery, with operating profits of 1.2 billion (£1 billion) due to sustained leisure demand and markets reopening. The figure compares with a loss of almost 3 billion euros in 2021.

Chief executive Luis Gallego is looking for a surplus of between 1.8 billion and 2.3 billion euros (£1.6bn-£2bn) in the current year. This reflects full year capacity of about 98% of the 2019 level, with the current quarter at near 96%.

Gallego said: “At this point of the year we continue to see robust forward-bookings, while also remaining conscious of global macro-economic uncertainties.

“We are transforming our businesses, with the intention of returning IAG to pre-Covid levels of profit within the next few years, through major initiatives to improve customer experience and operational performance.”

Qantas has announced half-year profits of more than A$1bn ($683m; £566m) in a dramatic turnaround of the airline's fortunes since last year.

It comes after the company lost more than A$7bn during the pandemic, when Australia imposed strict travel rules.

Its troubles continued last year with a slew of criticism over cancelled flights, lost luggage and delays.

The airline said strong demand for flights, higher airfares and cost-cutting were behind its rebound.

Chief executive Alan Joyce said revenue had tripled for the six months to the end of December to almost A$10bn as pandemic travel restrictions were eased.

https://www.google.com/amp/s/www.bbc.co.uk/news/world-australia-64740570.amp

Modest signs of recovery are expected to be seen from Aston Martin Lagonda Global Holdings PLC (LSE:AML) when it reports its full-year results next Wednesday (Mar 1), according to Goldman Sachs (NYSE:GS) in a note previewing the figures.

The bank expects 2022 luxury car sales to total £532mln, giving adjusted underlying earnings (EBITDA) of £107mln, and an EBIT loss of £7mln.

It also said it would be making ‘positive minor adjustments to outer year estimates.

In the note, Goldman said it expects supply chain and logistics constraints seen earlier in 2022 to have eased with deliveries in the fourth quarter ‘less impacted’.

“For 2023, we expect continued progress with 1H [the first half] assisted by the DBX 707 and V12 Vantage while 2H [second half] should see support from the ?rst new front-engined vehicles,” investors were told

Goldman repeated its ‘neutral’ recommendation on the stock.

Of the 10 banks and brokerages logged as following Aston Martin, only two are positive on the stock in the carmaker. Five are fence sitters alongside Goldman, while another two are negative.

The consensus price target is 158p, a discount to the 194p the shares are currently changing hands for.

https://www.proactiveinvestors.co.uk/companies/news/1006936/aston-martin-prelims-expected-to-show-modest-signs-of-recovery-says-goldman-sachs-1006936.html?rel=scroll

Back in the 40p price range

FTSE 100 is expected to open lower following heavy falls in the US as fears that the Federal Reserve might increase interest rates further rattled investors.

Spread betting companies are calling the lead index down by around 35 points.

Charlie Nunn chatting on radio 4 at 07.15 this morning

Warnings that the UK is headed for a recession may have been misplaced after figures out today revealed private businesses returned to growth for the first time in half a year.

S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) composite flash purchasing managers’ index (PMI) for February hit 53 points, up from 48.5 points last month.

It marked the first time the composite PMI has topped the 50 point threshold that separates growth and contraction in six months.

https://www.cityam.com/glimmers-uk-will-avoid-recession-this-year-emerge-as-experts-cheer-return-to-growth-in-pmi/

https://www.google.com/amp/s/www.cnbc.com/amp/2023/02/21/hsbc-earnings-fourth-quarter-full-year-2022.html

Good update lot's of info well done Rod

I'm having a top-up results are out in 9 days

A build up of reserves to cope with an expected jump in loan defaults and a slow down in the mortgage market is expected to have held back profits at Lloyds Bank last year, results out on Wednesday could show.

Britain’s biggest mortgage lender is poised to be the latest bank to underwhelm markets in what has been a slim bank earnings season.

“Concerns over the economic outlook and its heavy reliance on the UK domestic market” has pegged back Lloyds’s shares, according to Michael Hewson, chief market analyst at CMC Markets UK.

https://www.cityam.com/lloyds-bank-profit-poised-to-be-held-back-by-setting-aside-millions-to-cope-with-cost-of-living-defaults/

FTSE 100 is expected to open higher back above 8,000 on what could be a quiet day with little in the way of company and economic news expected and with US markets closed for President’s Day.

Spread betting companies are calling the lead index up by around 30 points.

UK remains unfashionable among the investment elite, for reasons that we all know about. Part is that the Footsie is heavily weighted with 'old' industries such as mining, banking

https://www.thisismoney.co.uk/money/comment/article-11766249/amp/HAMISH-MCRAE-pension-funds-Britain.html

Chid You've summed Lloyds up very well just hope the CEO reads the forum
GL

Market analysts have predicted that IAG will report operating profits of 1.2 billion euro (£1.07 billion) for 2022 in its new update.

It will represent a major improvement after the group recorded a 2.8 billion euro (£2.45 billion) operating loss in 2021 as travel restrictions still held the business back.

https://www.cityam.com/will-heathrow-airport-resurgence-boost-the-profits-of-british-airways-owner-iag/