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Sainsbury’s Doing Well in Financial Services – The Problem Is Food
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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Zak Mir & Brand CEO Alan Green discuss latest macro headlines on TipTV
Zak Mir, Technical Analyst for Zak’s Traders Cafe, was alongside Alan Green, CEO of Brand Communications, when he opened the Tip TV Finance Show to discuss the latest macroeconomic headlines including focus on the BoJ after their recent meeting, as well as the performance of LGEN and SBRY after the release of results and the chances of a US Fed rate hike. Topics Covered: Sainsburys (SBRY), Legal & General (LGEN), BoJ, Federal Reserve, US, HSBC (HSBA), Lloyds (LLOY), Standard Chartered (STAN).
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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