J. Sainsbury SBRY has been forced to cut its final dividend, even if only by a small amount,0.1p or 1.2%, making a total cut for the year of of 8.3%. It claims a strong performance in clothing, general merchandise and financial services which, coming from a food store, indicates a problem or two with the food side of the business. Group sales for the full year fell by 1.1% and like for like by 0.9%. Underlying profit before tax slumped by 13.8% and basic earnings per share were down by 8.3%
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Ryanair RYA hit new records in April with traffic growing by 10% to 9.9 million and customer load factor up by 2% points to 93% and all achieved despite strikes by air traffic controllers in a number of European countries. Annual traffic growth over the past 12 months now stands at 12%. What was that Willie Walsh was saying about weak markets only a few days ago – test – how many can tell me accurately and now what his airline’s name is, this year.
SHELL RDSA First quarter cash flow nearly disappeared with a fall of 91%, whilst first quarter income was down by 89% as the oil crisis savaged the company. Shell fought back with cost cuts and with strong results from Downstream and Integrated Gas. The combination with BG also got off to a strong start.
JD Wetherspoon JDW saw third quarter like for like sales grow by 3.8% and total sales up by 5.5%. Nineteen pubs have been closed since the start of the financial year of which only 8 have been sold but 16 new openings are expected for the year. The full year outcome is expected to be reasonable.
Direct Line DLG claims another quarter of top line growth on which it is aiming to build fir the rest of 2016. First quarter gross written premiums rose by 4.2% with Motor & Home being singled out as strong. despite the no of policies in force has actually fallen over the past 12 months, with only Motor and Commercial showing a rise.
Paddy Power Betfair PPB The merged group has got off to a good start with revenue fior the 3 months to the end of March up by 16% and operating profit by 36%. All 4 of its brands are trading well.
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