UK Pre-Market Update – Shell, SSE, GSK, Tullow Oil, CMC, Glencore, British Land By Investing.com
By Samuel Indyk
Investing.com – At 07:48 GMT, prices are trading down 0.3% at 7295.
In forex markets, trades at 1.3454, trades at 0.8406. The is flat.
Highlights on today’s calendar include Eurozone CPI, US building permits, housing starts, oil inventories, Canadian CPI.
The UK grew 4.2% year-on-year in October, above the 3.9% expected. Core CPI rose 3.4%. Inflation hit its highest rate in nearly a decade, driven by rising household energy bills, rising costs for second cars and fuel, and higher prices in restaurants and stores. hotels.
Royal Dutch Shell (LON 🙂 – The Dutch government has abandoned plans to persuade the company to keep its headquarters in the Netherlands.
SSE (LON 🙂 – Adjusted first half operating income up 15% to £ 376.8 million. First half adjusted EPS up 44% to 10.5p, slightly above the 7.5p-10.0p guided range. SSE currently expects to post adjusted EPS for the full year to a level that is at least in line with the consensus analyst forecast of 83p. Also announces the Net Zero Acceleration Program which includes a fully funded £ 12.5 billion investment plan through 2026.
Informa PLC (LON 🙂 – Confirmation of group forecasts with revenue of £ 1.8bn ± and adjusted operating profit of £ 375m ±.
British land (LON 🙂 – First half portfolio value up 2.9% with Campus up 3.0% and Retail & Fulfillment up 2.7%. Rent collection 96% for half, close to pre-pandemic levels in retail, with offices fully collected. Dividend declared in the first half of 10.32 pence per share.
Sage Group (LON 🙂 – Full year organic revenue up 3% to £ 1.778 billion, recurring organic revenue up 5% to £ 1.637 billion. Organic operating income down 10% to £ 343 million. Organic growth in recurring revenues for FY22 is expected to be in the order of 8% to 9%.
Experian PLC (LON 🙂 – First half revenue up 21% at constant rates to $ 3.061 billion. Benchmark EBIT up 25% to $ 806 million. First interim dividend up 10% to $ 0.16 per common share. Now expect organic revenue growth in the range of 11-13%, total revenue growth of 15-17%, and a sharp increase in EBIT margin, all at constant currencies.
Glencore (LON 🙂 – Evolution Mining to acquire Ernest Henry Mining from Glencore for A $ 1 billion.
Spirax-Sarco Engineering (LON 🙂 – Order books in all three activities increased in the four months to the end of October above expectations at the time of the half-year results. Currency effects had a negative impact on sales and operating profit. Maintain overall directions despite supply chain challenges in H2 and expect record levels of revenue, profit and operating margin for the full year 2021.
tallow oil (LON 🙂 – The production of the direct participation of the Group averaged 59,400 boej at the end of October 2021, in line with expectations. The production forecast for the entire year remains unchanged with a range of 58,000 to 61,000 bpd. The Group’s capital expenditure for the full year is expected to be approximately $ 265 million (previously approximately $ 260 million), adjusted for revised expenses in Kenya. Free cash flow for the full year is expected to be around $ 100 million.
CMC Markets (LON 🙂 – First half net operating income down 45% year-on-year to £ 126.7 million. Net leverage trading income down 50%. Profit before tax down 74% to £ 36.0million. Declared interim dividend of 3.5 pence per share.
GlaxoSmithKline (LON 🙂 – Nucala (mepolizumab) approved by the European Commission in three other diseases caused by eosinophils.
Diversified Energy Company (LON 🙂 – Appoint an independent expert to verify its greenhouse gas (GHG) emissions reported for 2021 and future years. Continuing to assess the possibility of a US dual listing to complement its current listing on the London Stock Exchange.
Tyman (LON 🙂 – Group turnover at constant scope in 10 months at 31st October up 19% year on year. Up 8% from 2019 levels.
Workspace group (LON 🙂 – Trading profit after interest up 42.5% to £ 21.8million. Property valuation of £ 2.271m, an underlying slight decrease of 0.7% (£ 15m) from March 31, 2021. Interim dividend reset to 7.00 pence per share. In addition, the company announces the acquisition of The Busworks for 45 million pounds sterling.
Grainger (LON 🙂 – Acquisition of two sites for direct build-to-lease development opportunities, totaling potential of approximately 480 new PRS homes.
Safestore Holdings (LON 🙂 – Fourth quarter revenue up 19.4% to £ 51.1million. Comparable closing occupancy rate of 85.1% (up 5.0 ppts compared to Q4 2020). Annual profits are expected to be slightly higher than previous forecast by 39.5p to 40p of adjusted diluted EPRA EPS.
Global Healthcare Trust (LON 🙂 – NAV per share in the first half up 0.4%, significantly underperforming the benchmark by 13.0%. Declared an interim dividend plus 7.0 pence per share, for the fiscal year ended March 31, 2022.
McColls Retail Group (LON 🙂 – The disruption of the supply chain resulted in revenues that were significantly lower than initially forecast. FY21 adjusted EBITDA before IFRS 16 is now expected to be between £ 20m and £ 22m.
Wincanton (LON 🙂 – Won a five year contract with Primark to provide transport services to all of its stores in the UK.
Quick rental (LON 🙂 – Underlying first half revenue excluding disposals up 28.2% to £ 186.6 million. EBITDA up 29.9% to £ 49.1 million. The results for fiscal year 2022 are expected to exceed current market expectations. Back to interim dividends with a proposed dividend of 0.75 pence per share.