Persimmon shares are sharply higher this morning as the housebuilder issues a bumper pay-out to shareholders. With FY pre-tax profit improving by a quarter, helped by an impressive 28.2% operating margin (+320bps) and £2.03bn in forwards sales (+7.5%), management has committed to a capital returns plan which will see the company pay an additional 125p…
Macro observations This week will be all about speeches. Already on Monday, we’ve seen hawkish commentary from Deputy Bank of England Governor Ramsden and Labour leader Corbyn advocating a soft Brexit lift Sterling higher. However, the best, and most important, are yet to come. On Tuesday, new Federal Reserve Chair Jay Powell will give his…
International Consolidated Airlines shares are firmly grounded this morning, down after the release of full year results. While headline revenues and adjusted EBIT looked encouraging at €22.97bn and €3.1bn respectively (vs. expectations of €22.97bn and €3.05bn), and both passenger numbers and total capacity improved 4.1% and 6.3%, a closer analysis of key performance metrics reveals…
23 Feb CNN Money (Link) “While CEO [Willie] Walsh praised the results as ‘very good’ in the face of a transformational period, the results don’t necessarily leave investors any clearer as to how current restructuring will benefit the group in the long-term,” said Henry Croft, research analyst at Accendo Markets. 22 Feb Financial Times (Link)…
Another earnings season, another lesson for shareholders that financials (Sales, profits, etc.) are only half the story, in some cases much less, now history, possibly reported months after the given period ended. What really counts is the message from management, about where the business is going and the profits the company is expected to make…
While you may have thought that this week was packed with company results, the best is yet to come. Next week, more than 60 of the biggest and most popular names on the London Stock Exchange report results in one form or another. But there’s one important sector to the UK economy that looks set…