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Severn Trent Lost For Words
Severn Trent SVT Expects net Customer Outcome Delivery Incentive Rewards ODI will be ahead of previous guidance for 2016 -17 and will meet or exceed last years level. This must be a good thing because it follows a strong operational performance in the three months to 31st December. All fine and good but what does it mean. Presumably another highly paid executive will have to waste his time issuing an explanatory RNS so that the rest of the world can understand todays.
Ocado Group OCDO enjoyed robust trading in its core business during the year to 27th October and was voted best online supermarket for the second consecutive year. A double digit rise in revenue with growth of 14.7% compared favourably to the limited growth shown by the grocery market generally. Profit before tax rose by 21.8% but profit after tax was up by only a smidgeon at 1.7%. Net debt grew by 30% during the year and external net debt rose eight fold to £56m.
SSE plc SSE is on target to meets its first financial objective of an increase the full year dividend at least in line with RPI. It experienced volatile market conditions in the third quarter to 31st December and in the first nine months of the year renewable energy output fell 20% below a normal year because of still and dry weather conditions.
Earthport EPO expects revenue to have increased by 35% for the six months to 31st December, following a rise of 80% in transaction numbers and 96% in payment volumes.
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Excellent progress at JD Sports Fashion (JD.)
JD Sports Fashion JD claims excellent progress with another record half year for the 6 months to the 30th July. Profit before tax leapt by 73% on revenue up by 20%. Earnings per share rose by 63% and the interim dividend is being increased by by 4.2% to 1.25p. International development of the business continues with a further 20 new stores across Europe.
Hilton Food Group HFG Despite challenging market conditions, profit before tax rose by 26.7% in the 28 weeks to the 17th July, earnings per share were up by 28% and the interim dividend is increased by 12.2%. Sales rose by 9% and the company’s internatyonal presence was further strengthened by a new agreement in Portugal, additions to the range of supplies in Sweden and the opening on time of its new Australian facility. Hilton also benefited from foreign exchange movements.
Ocado OCDO Group sales for the 12 weeks to the to the 7th August rose by 15.4% and the average number of weekly orders was up by 18.9%, as the company’s performance showed strong steady growth with the best volume performance in five years. Sustained pressure on margins is good news for the consumer and this is going to continue beyond the short term.
Futura Medical FUM After last weeks heady rise when the shares tripled in a day, the share price is beginning to return to more sensible levels and now stands at 73.90p down from last Thursday’s closing price of 92p. The company has announced this morning that the estimated annual sales potential of MED2002 is in excess of $500m, in addition to which CSD500, another of its stable of new drugs, will have its first partner laucnh, later this year.
Good Energy Group GOOD has a target of a fivefold increase in sales of 100% renewable energy by the end of 2020, as against the governments target of doubling renewal energy usage by the same year. Good Energy is keeping well on target with a 40% rise in revenue for the 6 months to the end of June and basic earnings per share for the half year up by 217%. Profit before tax rose by 164%
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Brand CEO Alan Green talks Brexit, Ocado (OCDO) & Babcock (BAB) with Zak Mir on TipTV
In today’s Tip TV Finance Show open, we discuss the Brexit fallout, its political implications, top stock picks – Ocala Group (OCDO), Babcock International (BAB); and they key trending market news, with Zak Mir Technical Analyst at Zak’s Traders Cafe, and Alan Green, CEO at Brand Communications.
Redrow Admits To Decades Of Under Supply
Redrow RDW managed to increase its average selling price in 2016 by over 10% which is not bad going in an economy parts of which are struggling with price deflation. Redrow blames the continuing housing boom on decades of under supply, which raises the question of course as to why Redrow and all the other house builders kept the market under supplied for all those years. Why didn’t they build the number of houses which the market needed.
2016 pre tax profits are expected to beat analysts estimates. Private reservations rose by 46% and at the end of June the private order book was up by over 50% on a year ago. Annual turnover rose by 20% and legal completions by 17%.
Carpetright CPR Statutory profit before tax for the year to 30th April soared by 137% and basic earnings per share by 198%. Despite a reduction of 5.4% in store space, revenue for the year only fell by 1.3%. UK like for like sales rose by 2.8% whilst Europe did even better with a 4.8% rise. New store format and branding was completed within the year. The current year got of to a very bad start in May with like for like sales collapsing by 7./6% but they recovered in June with a rise of 6.3%. No doubt we will read in the not too distant future about market volatility and challenging conditions.
Ocado OCDO Price deflation took its toll during the half year to 15th May, with the value of the average basket down by 2.2%. Volumes including Morrisons, on the other hand were up by 30% and the number of orders rose by 17.8% to 225,000 per week., which Ocado claims is steady progress.
Anglo American plc AAL De Beers saw a fall in sales in its 5th cycle of 2016 but claims it was nothing more than expected. Despite stable prices, it remains cautious about the future.
Fastjet FJET finds that the trading environment is still challenging with passenger numbers lower than expected and the load factor down to 47%. The board believes that the new CEO will give the group a viable and attractive future but none of the present members seem to think that the mess created by their governance is anything for which they can be blamed.
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Sainsbury Fights Back – With Butternut Squash Noodles
Sainsbury (SBRY) still lives in cloud cuckoo land, with management proudly boasting that a miniscule rise of 0.1% in fourth quarter like for like sales shows strong growth. This is the first quarterly like for like sales rise in two years, so if you really are desperate and want to keep your job it is worth trying to pretend its a great performance. That of course ignores the fact that if Lidl had produced such disastrous figures, the whole lot from the office boy to the CEO would have quickly been shown the door.
All Sainsbury’s quarter four figures prove, is how it has become inured to failure and is completely incapable of competing with the its German rivals.
In fact the full figures are even worse because if you exclude fuel its like for like sales rise becomes an even bigger, like for like sales fall – down 0.5%.
True, clothing and entertainment both delivered strong growth of 10% and 11% respectively but the Germans don’t really compete there – at least not yet.
The main success of the quarter appears to have been the introduction of butternut squash noodles and other vegetable based delights – no doubt as part of a healthy, chemical free diet. Somehow I can’t see them ever replacing the Mediterranean diet.
Ocado OCDO has seen double digit growth in the 12 weeks to the 21st February, with gross sales up by 15.3%, without any help from vegetable based doo dahs. Despite a challenging retail environment, average weekly orders rose by 16.9%
Legal & General LGEN provides better news from the financial world and is raising its full year dividend by 19%, meaning that dividend increases over the past four years have now averaged 20%. Profit after tax rosey by 1`0% and adjusted earnings per share by 11%.
Stadium Group SDN is increasing its total dividends by 28.6%, matching a revenue increase of 29% for the year to 31st December. It also enjoys a strong order book and a pipeline of opportunities, with strong trading continuing into 2016.
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Has Morrisons Seen The Future And Stolen It
And not only seen the future but stolen a march on its competitors by seizing it. Two announcements today could change the future of retailing and give Morrisons a big step up over the competition.
Firstly it will provide a whole supply service to Amazon with hundreds of Morrisons (MRW) products becoming available online on Amazon including both fresh and fozen products. Could this give it a big leap in sales without it having to open a single new store or spend massively on increasing its on line presence.
At the same time MRW has reached agreement in principal with Ocado which, if implemented, will give it space in Ocado’s grandly named Customer Fulfillment Centre at Erith thereby enabling morrison.com to sell to customers all over Great Britain without having to build its own massive distribution and delivery network, by joining together Ocado’s delivery capability with Morrisons store assets.
Over the past 3 months months, shares in Morrisons have leapt from 145p to 195p compared to their 2013 high of 300p.
Chamberlin (CMH) the specialist castings & engineering group, is making good progress in difficult conditions and announces that underlying profit before tax should be above current market expectations for the current year, showing that it has the ability to deliver a world class product at a competitive price. All this, despite a slowdown in its core markets including steel, oil and gas, giving the lie to those who claim that the UK has no industry left.
In addition it has signed a major new automotive contract worth 3.3 million per year, with the benefits starting to flow as from the second half of 2017 and a new milling facility which will commence operation early in 2017 will make the group the only fully integrated supplier in Europe of grey iron bearing housings.
Results will be announced towards the end of May, together with a further update. The shares have fallen from 92p a year ago to their current 64p.
BP results trigger FTSE slump? Nick ‘Moose’ Batsford discusses with Zak Mir & Brand CEO Alan Green on TipTV
Nick ‘Moose’ Batsford was alongside Zak Mir, Technical Analyst for Zak’s Traders Cafe, and Alan Green, CEO of Brand Communications, when he opened the Tip TV Finance Show to discuss a range of stocks and the outlook for the FTSE 100, as well as the recent macroeconomic activity in global markets. Stocks discussed include BP (BP.), Ocado (OCDO) and Mattioli Woods (MTW).
Our CEO Alan Green on TipTV this morning
Our CEO Alan Green will be on TipTV this morning discussing Mattioli Woods (MTW), BP (BP.) and Ocado (OCDO). Tune in at 10am.