Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
https://www.stokesentinel.co.uk/news/stoke-on-trent-news/persimmon-build-giant-stoke-trent-4998261
https://www.investing.com/analysis/uk-banks-q4-2021-earnings-preview-boe-befuddles-200560633
https://www.theguardian.com/business/2021/feb/14/barclays-boss-hopes-to-avoid-more-stormy-weather
https://shortsqueeze.com/?symbol=ul&submit=Short+Quote%E2%84%A2
It seems to work with the ADR ticker
Persimmon Acts to Address Legacy Cladding Issues
Following a review of past projects, Persimmon is today announcing a financial commitment to address cladding safety issues in its legacy development portfolio.
As first and foremost a builder of traditional family homes, the Group has not been a major developer of high-rise buildings. We believe we account for less than one percent of all high-rise developments. However, in the past we have built multi-storey buildings which met all the fire safety rules and regulations in place at the time, but which used cladding materials which may now be considered unsafe and require removal.
The Group believes strongly that it has a responsibility to step forward and tackle this issue head-on. Persimmon has therefore made a provision of GBP75 million in its 2020 results to pay for our contribution to any necessary work on 26 buildings that may be affected by the cladding issue.
Persimmon has identified 9 high-rise buildings over 18 metres built by the Group where, in-line with government guidance, cladding may need to be removed. Persimmon does not own any of these buildings and the legal responsibility and duty to ensure the building is safe rests with the current owners. Persimmon will provide technical support to ensure the building is made safe. However, if a building owner fails to step up and accept their responsibilities, Persimmon stands ready to provide the support necessary to make sure the work is done.
For buildings below 18 metres in height the Government has recommended a risk-based approach. The Group has identified 17 buildings below 18 metres that may be fitted with cladding requiring detailed investigation. Where Persimmon owns the building it will, of course, lead this work. Where the Group no longer owns the building, it will support the owners and other parties in their efforts to ensure the buildings are safe for residents. Once again, should a building owner fail to meet their obligations, Persimmon stands ready to provide the support to make sure this happens.
The Group is in the process of writing to building owners and management companies ('Factors' in Scotland) to inform them of the findings of its review and to agree next steps. It is the Group's intention to progress matters as swiftly as possible, minimising uncertainty and concern for residents.
Roger Devlin, Chairman of Persimmon, said: "The concern around now banned cladding is affecting many thousands of homeowners who live in high-rise buildings right across the country.
"At Persimmon we believe we have a clear duty to act to address this issue. So today we are setting aside GBP75 million towards any necessary cladding remediation and safety work in 26 developments we built. Where we still own the building we will act. Where we no longer own them we will work with the owners to make sure they meet their legal responsibilities and duty. If the owner does not step up then we will act to re
y James Attwood
(Bloomberg) -- Antofagasta’s Centinela copper operation is
seeking approval from Chilean authorities for a $448 million
tailings disposal project, according to a government website.
* The project consists of “enabling infrastructure and carrying
out the necessary activities to transport and conduct
conventional tailings from the Esperanza concentrating plant to
Tesoro Central, Tesoro Noreste and Esperanza branches”
* NOTE: Centinela, Antofagasta’s second largest operation, is
the result of the 2014 amalgamation of the Tesoro and Esperanza
mines
By Sam Unsted
(Bloomberg) -- Investors are likely to remain focused on the upside potential for U.K. homebuilder stocks amid growing confidence in the resilience of housing demand, Jefferies writes in a note upgrading Taylor Wimpey and downgrading Barratt Developments.
* Persimmon (buy) remains top pick with investors underestimating profit upside potential, analyst Glynis Johnson writes
** Taylor Wimpey raised to buy from hold as improving sentiment should lift shares; Barratt cut to hold after recent strong run leaves insufficient upside
** Bellway, Berkeley, Countryside, Redrow and Vistry all kept at buy, Crest Nicholson at hold
* NOTE: Persimmon shares down 10% over past 12 months, compared to 14% fall for Barratt and 26% decline for Taylor Wimpey
* NOTE: Taylor Wimpey now has 16 buy ratings, 2 holds and 1 sell among analysts tracked by Bloomberg, compared to 14 buys, 5 holds and zero sells for Barratt
Feb 4 (Reuters) – Unilever is "highly likely" to separately list its tea business on a stock exchange, but does not rule out an outright sale, the group's chief executive said on Thursday.
Last year, the maker of PG Tips and Lipton tea embarked on a review of its 3 billion euros a year global tea division, saying it was looking at options including a spinoff and partial or full sale, without setting a timeframe. ...
CEO Alan Jope said Unilever had started separating offices, manufacturing lines and people within its tea business, a process it expects to conclude by the end of this year.
The company will make a final decision at the end of that process, but expects to tap capital markets to split off the division, he added.
"You could easily see the Unilever Tea Co becoming a standalone business on a listed stock exchange with its own IPO, that is a highly likely outcome, which would have been very difficult under our old structure," Jope said in an interview with Bloomberg.
In November, the company ditched its Anglo-Dutch dual-headed structure in favour of a single corporate entity based in London, mainly to pave the way to make bigger acquisitions and reshape its portfolio.
Jope added, though, that Unilever was open to talks with private-equity companies that may be interested in buying the tea business.
Jope, who took over the reins in 2019, also dismissed talk of the company looking to sell its Hellmann's business, which had previously come under scrutiny for not adhering to his
"brands with purpose" strategy. ...
Unilever reported slightly lower than expected full-year results on Thursday and restored its pre-pandemic sales growth target, which underwhelmed investors seeking more ambitious goals. It's shares were down 4% in noon trading. ...
Jope also laid out plans to return Unilever to faster growth, which included focusing on three big markets and making investments in high growth areas such as plant-based foods.
He told journalists the company was looking to make plant-based food deals in China, India and United States, its fastest growing markets.
Unilever's back to the future goals disappoint ...
https://news.sky.com/story/unilever-leaves-shareholders-cold-despite-covid-crisis-wins-12208557
https://www.marketwatch.com/story/unilever-misses-forecasts-as-2020-net-profit-falls-2021-02-04
y Sarah Jacob and Bloomberg Automation
(Bloomberg) -- Unilever reported underlying sales for the
fourth quarter that beat the average analyst estimate.
FOURTH QUARTER RESULTS
* Underlying sales +3.5%, estimate +3.18% (Bloomberg
Consensus)
* Underlying volume +3.3%, estimate +2.78%
* Underlying pricing +0.2%, estimate +0.68%
* Dividend per share EU0.4268
2020 YEAR RESULTS
* Underlying EPS EU2.48, estimate EU2.48 (range EU2.39 to
EU2.58)
* Revenue EU50.72 billion, estimate EU50.82 billion (range
EU50.12 billion to EU51.41 billion)
* Adjusted operating profit EU9.37 billion, estimate
EU9.64 billion (range EU9.44 billion to EU9.83 billion)
* Adjusted operating margin 18.5%
* Operating profit EU8.30 billion
* Free cash flow EU7.67 billion
COMMENTARY AND CONTEXT
* Aims for Underlying Sales Growth Ahead of Its Markets
* Aims to Deliver Underl. Sales Growth in Range of 3%-5%
* Aims for Profit Growth Ahead of Sales Growth
* To Deliver Savings of EU2 Bln/Yr in Multi-Yr Framework
* Restructuring Investment of ~EU1 Bln for 2021, 2022
* Restructuring Investment to Be Lower After '21, '22
* Continue to Work on Separating Out Tea Ops
* Multi- year financial framework: "We will deliver long term
value creation by continuing to evolve our portfolio and driving
earnings growth, a strong cash flow and a growing dividend"
* Multi-year financial framework: Sustained strong cash flow
over the long term, ROIC in the mid-to-high teens, Net Debt to
Underlying EBITDA at around 2x
* Made five strategic choices including developing portfolio
into high growth spaces, win with our brands as a "force for
good", Accelerate in the USA, India and China
NOTE
* 12 buys, 7 holds, 4 sells