Sports Direct Intl SPD Mike Ashley claims a spectacular trading performance during the half year to the 29th October which is hardly justified by the reality of the situation, namely a fall of 1% in UK sports retail revenue or 1.2% on a like for like basis. So, he limits his claim to the trading performance in his flagship stores, of which they are going to open more. If his flagship stores are doing so well it makes the the rest of UK retail look even more gloomy. Gross margins in the UK fell by 80bps compared to a rise of 110bps for international retail. Group revenue for the half year rose by 4.7% which again only serves to illustrate how bad trading in UK high streets and shopping malls has become. Underlying profit before tax is, he claims, healthy with a rise of 22.9% although on a reported basis it fell by 67.3%. Underlying earnings per share were up by 32.9% as against a fall of 68.6% on a reported basis.
Ocado Group OCDO Sales growth was impacted during the quarter to the 3rd December, by a lack of capacity and especially a shortage of drivers. Average orders per week rose by 50% during the quarter, whilst the average order size remained stable.
PZ Cussons plc PZC Cautious consumers have created tough conditions and adversely affected performance in the half year to the 30th November with the result that profit for the half year is expected to be 10% lower than in the previous period, despite strong profitability in Asia, which has been offset by Africa and Europe. A robust and innovative pipeline has helped to underpin the first half and it is expected that the out turn for the full year, will be broadly in line .
Advanced Medical Solutions AMS updates on trading to the 31st December and confirms that it is continuing to deliver strong organic growth. Revenue and profit are,anticipated to be in line with current market expectations.
Bunzl BNZL Group revenue for the year to 31st December is expected to have risen by 15%, or 9-10% at constant exchange rates, as expected at the time of the October trading statement.
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