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WINNERS & LOSERS SUMMARY: Travis Perkins Slumps After Lowering Outlook

Tue, 31st Jul 2018 10:56

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - WINNERS----------Fresnillo, up 2.4%. The gold miner boosted its gold output guidance for 2018 as both interim gold and silver production rose year-on-year. For the six months to June, Fresnillo's gold output increased 4.4% to 465,299 ounces, while silver production was up 9.7% to 30,764 ounces. Fresnillo also revised its 2018 production guidance. It now expects gold production between 900,000 and 930,000 ounces, having previously guided for between 870,000 to 900,000 ounces of gold. However, silver production guidance is now lower than before, cut to between 64,500 and 67,500 ounces from the prior range of 67,000 to 70,000 ounces. Revenue for the six months to June came in a USD1.12 billion, compared to USD995.8 million a year earlier, helped by higher volumes and prices. BP, up 0.8%. The oil major reported a doubling in profit for the first half of 2018, with its Upstream business putting in a particularly strong performance. For the six months to June, BP's replacement cost profit came in at USD4.18 billion, up from USD1.97 billion in the same period a year prior. On an underlying basis, the figure was USD5.41 billion, up from USD2.19 billion. In the second quarter of 2018, RC profit was USD1.79 billion from USD553 million a year before and on an underlying basis was USD2.82 billion from USD684 million. BP posted revenue of USD143.61 billion for the six months to June, up 28% from USD112.37 billion a year prior. BP last week announced its second quarterly dividend would rise 2.5% to 10.25 US dollar cents, the first time it had increased the figure since the third quarter of 2014. ----------FTSE 100 - LOSERS----------Just Eat, down 5.7%. The online takeaway platform's shares were lower despite increasing its revenue guidance for 2018 following a strong half-year performance. Just Eat said it now expects full-year revenue of around GBP740 million and GBP770 million, up from previous expectations of between GBP660 million and GBP700 million. However, adjusted earnings before interest, taxes, depreciation and amortisation guidance remained unchanged between GBP165 million and GBP185 million. Just East also upped its spending guidance. For the six months to June 30, the group posted revenue up 45% to GBP358.4 million from GBP246.6 million year-on-year. Pretax profit was lower by 3% to GBP48.1 million from GBP49.5 million due to costs associated with the acquisition of rival online food delivery company Hungryhouse in the UK.Centrica, down 4.8%. The energy supplier reported a "resilient" first half in the face of several problems, though its consumer businesses did suffer a fall in profitability. In the six months to June, Centrica posted earnings before interest, tax, depreciation, and amortisation of GBP1.32 billion, up 7% year-on-year. However, the company's adjusted operating profit was down year-on-year, by 4% to GBP782 million. In the Centrica Consumer business, adjusted operating profit fell 20% year-on-year to GBP430 million, with the fall hardest in the UK Home segment. Centrica said in the first quarter of 2018 energy consumption rose due to the harsh winter weather in the UK, but the company was hit by the full period impact of the UK prepayment cap brought in April 2017, lower customer numbers, and higher costs.Rentokil Initial, down 1.8%. The pest control company affirmed its annual earnings guidance, raised its dividend, and said the absence of a large disposal gain led to a sharp drop in profit for the first half. The company recorded pretax profit of GBP109.5 million for the six months to June-end, down from the GBP592.9 million pretax profit recorded in the year ago period. Last year, the company benefited from a GBP462.5 million gain on the disposal of Hygiene and Workwear assets to the Haniel joint venture. First half reported revenue fell year-on-year to GBP1.18 billion from GBP1.21 billion, but revenue from continuing operations grew 14% to GBP1.17 billion. The company lifted its interim dividend per share by 15% to 1.311 pence.----------FTSE 250 - WINNERS----------Provident Financial, up 13%. The subprime lender appointed a new chairman, reconfirmed its intention to restore its dividend and said that a weak performance in the core consumer credit division led to a drop in first half pretax profit. Provident named former Aviva Chief Executive Patrick Snowball as chairman, replacing interim chairman Stuart Sinclair, who intends to retire. Snowball will take over as chairman on September 21. For the six months to June 30, Provident Financial posted pretax profit of GBP34.6 million, down sharply from GBP90.0 million a year before, on a revenue of GBP572.5 million and GBP619.4 million, respectively. However, Provident Financial intends to declare a nominal final dividend for 2018, it said.IMI, up 7.8%. The engineer said its first-half profit and revenue increased as it expects its full-year results to be slight ahead of expectations. The company increased pretax profit in the six months ended June by 5% to GBP93 million from GBP89 million. IMI's revenue in the first half increased 8% to GBP914 million from GBP848 million the year before. The company's first-half results were ahead of expectations due to progress from its Critical Engineering and Precision Engineering divisions. Looking ahead, the company believes its outlook remains positive. IMI expects its organic revenue and profits to "show good improvement" compared to last year.Greggs, up 7.3%. The pasties, sausage roll and sandwich maker said it delivered a "resilient performance" in the first half of the year despite challenging market conditions, registering both revenue and profit growth. For the six months to June 30, the UK food-on-the-go firm's total sales increased 5.2% to GBP476 million, with the impact of the severe weather conditions at the beginning of the year on customer footfall being the "most significant factor affecting the first-half performance". The company described its half-year performance as "resilient", with pretax profit up to GBP24.1 million from GBP19.4 million. The company lifted its interim dividend by 3.9% to 10.7 pence per share.Vedanta Resources, up 4.8% at 817 pence. the Indian miner confirmed it has reached an agreement for a cash offer for the rest of its shares from majority shareholder Volcan Investments. Volcan, which already owns just under 67% of Vedanta and is controlled by Executive Chairman Anil Agarwal, has offered USD10.89 per Vedanta share, equivalent to approximately 825 pence. The offer values Vedanta in total at USD3.07 billion, and the stake Volcan is now buying is worth around USD1.03 billion. Coats Group, up 4.8%. The industrial thread maker said it expects to deliver a full-year 2018 performance "slightly ahead" of previous management views after half-year revenue growth. In 2017, company reported pretax profit of USD142.9 million on revenue of USD1.51 billion. For the six months to June 30, Coats said revenue rose 6.5% to USD788 million from USD740 million year-on-year. The company lifted its interim dividend by 14% to 0.50 cents per share from 0.44 cents paid to shareholders last year.----------FTSE 250 - LOSERS----------Travis Perkins, down 11%. The builders' merchant swung to a pretax loss in the first half of 2018 and said that annual adjusted earnings will be at the bottom end of market views. The company, which operates Wickes and Toolstation branded chains of DIY stores in the UK, recorded a pretax loss of GBP123.4 million for the six months to June 30, compared with pretax profit of GBP167.6 million a year ago, on a revenue of GBP3.36 billion and GBP3.22 billion, respectively. Adjusted pretax profit - the company's preferred measure - dropped to GBP167 million from GBP175 million. The swing to loss was attributed to weak kitchen and bathroom sales, higher impairment costs and higher sales of lower margins products. It now expects 2018 earnings before interest, taxes and amortisation to be in the lower half of the range of analyst expectations.----------OTHER MAIN MARKET AND AIM - WINNERS----------4imprint Group, up 7.4%. The promotional products marketer increased its interim dividend by 15% after reporting revenue growth in the first six months of the year. The group proposed a dividend of 15.85 pence per share in respect of the six months to June 30, 15% higher year-on-year from 13.80p. Revenue for the half-year increased 17% to USD348.3 million from USD298.9 million year-on-year, while pretax profit was "essentially flat" at USD15.9 million compared to USD15.7 million recorded a year ago.----------
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24 Jan 2020 07:55

TOP NEWS: Just Eat-Takeaway.com Merger Delayed As CMA Mulls Probe

TOP NEWS: Just Eat-Takeaway.com Merger Delayed As CMA Mulls Probe

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23 Jan 2020 17:50

TOP NEWS: CMA Reconsiders Just Eat And Takeaway.com Merger Position

TOP NEWS: CMA Reconsiders Just Eat And Takeaway.com Merger Position

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22 Jan 2020 10:53

Just Eat Takeaway.com Shares To Begin Trading After Anglo-Dutch Tie-Up

Just Eat Takeaway.com Shares To Begin Trading After Anglo-Dutch Tie-Up

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17 Jan 2020 13:15

IN THE KNOW: RBC Downgrades Just Eat After Takeaway.com Deal

IN THE KNOW: RBC Downgrades Just Eat After Takeaway.com Deal

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15 Jan 2020 12:35

Greggs chooses Just Eat for UK delivery roll-out

(Sharecast News) - Greggs has chosen Just Eat for its upcoming delivery roll-out across the UK instead of rival Deliveroo.

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15 Jan 2020 11:48

Greggs And Just Eat Partner For UK-Wide Food Delivery Pact

Greggs And Just Eat Partner For UK-Wide Food Delivery Pact

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14 Jan 2020 11:54

Tuesday broker round-up

(Sharecast News) - DFS: Jefferies downgrades to hold with a target price of 275p.

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10 Jan 2020 16:04

UPDATE: Prosus Offer For Just Eat Lapses With Acceptances Less Than 1%

UPDATE: Prosus Offer For Just Eat Lapses With Acceptances Less Than 1%

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10 Jan 2020 16:02

Just Eat shareholders approve Takeaway.com takeover

(Sharecast News) - The battle for Just Eat ended on Friday as shareholders of the online food delivery service approved a £6.3bn merger with Dutch rival Takeaway.com.

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10 Jan 2020 14:59

Takeaway.com Meets Acceptance Condition For Just Eat Merger

Takeaway.com Meets Acceptance Condition For Just Eat Merger

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9 Jan 2020 16:03

Takeaway.com Shareholders Approve All-Share Just Eat Merger

Takeaway.com Shareholders Approve All-Share Just Eat Merger

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6 Jan 2020 08:36

PRESS: Takeaway.com Set To Beat Prosus To Just Eat - Bloomberg

PRESS: Takeaway.com Set To Beat Prosus To Just Eat - Bloomberg

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23 Dec 2019 12:16

Monday broker round-up

(Sharecast News) - Rentokil: Peel Hunt reiterates hold with a target price of 455p.

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20 Dec 2019 13:51

UPDATE: Prosus Keeps Just Eat Offer Open Despite New Takeaway.com Bid

UPDATE: Prosus Keeps Just Eat Offer Open Despite New Takeaway.com Bid

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20 Dec 2019 11:18

TOP NEWS: Just Eat Holds Firm On Takeaway.com Merger, Rejecting Prosus

TOP NEWS: Just Eat Holds Firm On Takeaway.com Merger, Rejecting Prosus

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