A.G. BARR H1 Adj. Profit Rises, Revenue Up 19.5%; Recommences Dividends

TikTok Reaches 1 Billion Monthly Active Users

TikTok on Monday announced that it has passed 1 billion active global users milestone.

“More than 1 billion people around the world now come to TikTok every month to be entertained as they learn, laugh, or discover something new. We’re honored to be a home for our immensely diverse community of families, small businesses, and creators who transform into our favorite stars,” the company announced in a statement.

TikTok, which is privately held by Chinese company Bytedance, has reported a surge in users over the past few years, especially during the Covid-19 pandemic. TikTok had about 55 million global users by January 2018, which surged to 271 million by December 2018 and 507 million by December 2019. In July 2020, TikTok reported close to 800 million monthly active users worldwide after less than four years of existence.

The company’s short-form video is so popular among teens that several large tech companies have launched their own copy-cat versions. Facebook launched Instagram Reels last August, while Google’s YouTube launched Shorts last September. Snap announced a similar feature called Spotlight last year.

The growth is an impressive one considering the fact that former US President Donald Trump’s administration were planning to ban the app if ByteDance didn’t sell it to an American company. Meanwhile, President Joe Biden’s administration has allowed the company to continue operations in the U.S.

Opinion | Instagram Is Adult Entertainment

By Ross Douthat

Opinion Columnist

Weighty Matters: Adult Obesity Rate Highest In Mississippi, Lowest In Colorado

In the U.S., the number of states in which at least 35% of residents are obese has risen to 16. This compares to 12 in 2019 and 9 in 2018, according to data published in the CDC 2020 Adult Obesity Prevalence Maps.

The 16 states with high prevalence of obesity are Alabama, Arkansas, Delaware, Indiana, Iowa, Kansas, Kentucky, Louisiana, Michigan, Mississippi, Ohio, Oklahoma, South Carolina, Tennessee, Texas, and West Virginia.

In adults, if their body mass index is 30.0 or more, they are considered as obese, according to the Centers for Disease Control and Prevention (CDC).

The obesity prevalence rate is the highest in Mississippi, with 39.7%, while it is the least in Colorado, with 24.2%.

Obesity is a growing epidemic. In 1990, obese people made up only less than 15% of the population in most of the states in the U.S., according to reports.

There a number of health risks associated with obesity – say, type 2 diabetes, heart disease, stroke, high blood pressure, sleep apnea and nonalcoholic steatohepatitis (NASH).

Besides affecting the health of individuals, obesity also impacts a nation’s economy.
According to a study published in the journal PLOS ONE, “obesity accounts for over $170 billion in excess medical costs per year in the United States”.

Allen Media Group Promotes Mark Eisner To SVP Content Distribution, Partnerships And Programming

Byron Allen’s Allen Media Group said Monday it’s elevated Mark Eisner to Senior VP of Content Distribution, Partnerships and Programming. Eisner’s previous title was Vice President of Content Distribution — a position he has held since first joining the company in 2016.

In his new position, Eisner will continue to head television licensing, representing AMG’s Freestyle Digital Media and Entertainment Studios Motion Pictures movie content libraries. He’ll also oversee content partnerships for a growing OTT platform portfolio, including The Weather Channel’s free-streaming AVOD service, Local Now. And he will direct content acquisitions for AMG’s owned and operated OTA broadcast networks, ThisTV and TheGrio.TV.

Eisner previously held content distribution positions for broadcast television syndication, cable television, and digital networks with Lionsgate Entertainment, MGM Worldwide Television and New Line Cinema.

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Faraday Future Intelligent Gains 6%

Shares of Faraday Future Intelligent Electric Inc. (FFIE) are gaining nearly 6% on Tuesday morning despite no stock related news to drive the shares.

FFIE is currently trading at $10.98, up $0.61 or 5.88%, on the Nasdaq. The stock has traded between $8.70 and $20.75 in the 52 week period.

Faraday Future Intelligent Electric engages in the design, development, manufacture, engineering, sale, and distribution of electric vehicles and related products in the United States and internationally. The company was founded in 2014 and is headquartered in Gardena, California.

A.G. BARR H1 Adj. Profit Rises, Revenue Up 19.5%; Recommences Dividends

A.G.BARR Plc (BAG.L) reported record first-half profit reflecting positive underlying volume momentum as well as a number of benefits which will not repeat in the second half. It also recorded strong trading across both business units. Looking forward, the Group remains on track to deliver strong full year profit performance, slightly ahead of 2019/20 pre-COVID level.

For the 6 months ended 1 August 2021, statutory profit before tax was 24.4 million pounds compared to 5.1 million pounds, last year. Earnings per share was 12.71 pence compared to 1.71 pence.

Before exceptional items, profit before tax was 23.7 million pounds, up 42.8% from last year. Earnings per share before exceptional items was 12.15 pence compared to 10.52 pence.

For the 27 weeks ended 1 August 2021, revenue was 135.3 million pounds, up 19.5% from prior year. On a like-for-like basis, excluding the extra week of trading, revenue was 128.5 million pounds, an increase of 13.5%.

The Board recommenced dividend distributions with an interim dividend for the 27 weeks ended 1 August 2021 of 2.0 pence per share payable on 29 October 2021 to shareholders on the register on 8 October 2021. The Group also announced a special dividend of 10.0 pence per share payable on 29 October 2021 to shareholders on the register on 8 October 2021.