Tesco Plc FY Adj. Operating Profit Declines; LFL Sales Growth At 6.3%
Tesco Plc (TSCO.L,TSCDY.PK) reported profit before tax of 825 million pounds for the 52 weeks ended 27 February 2021 compared to 1.03 billion pounds for the 53 weeks ended 29 February 2020. Profit for the year from continuing operations was 721 million pounds compared to 738 million pounds. Earnings per share from continuing operations was flat at 7.54 pence. Group operating profit before exceptional items and amortisation of acquired intangibles declined to 1.81 billion pounds from 2.52 billion pounds. Earnings per share before exceptional and other items declined to 11.94 pence from 18.60 pence, due to Tesco Bank operating losses and lower retail operating profits due to COVID-19 impacts.
For 52 weeks ended 27 February 2021, revenue, including fuel, was 57.9 billion pounds, down 0.4% from 53 weeks ended 29 February 2020. Group sales, excluding fuel, was 53.4 billion pounds compared to 49.9 billion pounds. Group like-for-like sales growth was 6.3%, including UK growth of 7.7%.
The Board proposed to pay a final dividend of 5.95 pence per ordinary share, taking the full-year dividend to 9.15 pence per ordinary share.
Tesco also announced that Thierry Garnier and Bertrand Bodson will join the Board as independent Non-Executive Directors with effect from 30 April and 1 June 2021, respectively. Thierry Garnier has been CEO of Kingfisher plc since 2019. Bertrand is chief digital officer at Novartis AG. The company also announced that Mark Armour, Mikael Olsson and Deanna Oppenheimer will formally retire from the Board at the conclusion of the AGM.
China Approves AstraZeneca’s Tagrisso To Treat Early-stage Lung Cancer
British drug major AstraZeneca Plc. (AZN,AZN.L) said Wednesday that the China has approved the company’s Tagrisso or osimertinib for the adjuvant treatment of patients with early-stage (IB, II and IIIA) epidermal growth factor receptor-mutated or EGFRm non-small cell lung cancer or NSCLC after tumour resection with curative intent, with or without adjuvant chemotherapy as recommended by the patient’s physician.
Tagrisso is indicated for EGFRm patients whose tumours have exon 19 deletions or exon 21 (L858R) mutations.
The approval was based on results from the ADAURA Phase III trial where Tagrisso reduced the risk of disease recurrence or death by 80%.
Tagrisso is approved to treat early-stage lung cancer in more than a dozen countries, including the US, and additional global regulatory reviews are ongoing.
Tagrisso is also approved for the 1st-line treatment of patients with locally advanced or metastatic EGFRm non-small cell lung cancer and for the treatment of locally advanced or metastatic EGFR T790M mutation-positive non-small cell lung cancer in China, and in the US, Japan, the EU and many other countries.
Hyundai Alcazar revealed
Hyundai has revealed the production-ready Alcazar SUV ahead of its launch. While the new three-row SUV is based on the same platform as the Creta, there are a number of differences between the two models.The Alcazar sits on a 2,760mm wheelbase — up 150mm from the Creta — and a longer rear overhang in order to open up more room in the cabin and accommodate the extra row of seats. In terms of design, the production-spec Alcazar quite evidently shares a number of key elements with the Creta. The SUV also gets a revised grille and bumpers, a prominent rear quarter glass, and a more upright tailgate with new wrap-around tail-lamps.
Inside, the Alcazar will be available with both a 6- seat (with captain’s seats in the second row) and 7-seat (with bench seating in the second row) configurations. In both configurations the second-row seats feature a one-touch tumble mechanism and get a sliding function. Speaking of the third row, the seats get a reclining function and they also fold down flat to provide better boot space.
The interior also gets a dual-tone colour scheme and the captain’s seats version gets a unique floor-mounted central armrest with cupholders and extra storage space.
Under the hood, the Alcazar will be available in both petrol and diesel engine options. The petrol unit is an updated version of the 2.0-litre, four-cylinder engine in the Elantra and Tucson, that now produces 159hp and 192Nm. The diesel engine on the other hand, is the same 1.5-litre, four-cylinder turbocharged unit from the Creta that produces 115hp and 250Nm. Both engines are available with either a 6-speed manual or a 6-speed automatic gearbox.
KATEK SE Plans IPO
KATEK SE said the company is preparing an initial public offering and listing of its shares on the regulated market (Prime Standard) of the Frankfurt Stock Exchange in second quarter 2021. The planned offering will consist of newly issued shares; a capital increase, as well as existing shares in connection with a market customary
over-allotment. The offering is planned as a public offering in Germany and private placements with institutional investors in certain jurisdictions outside Germany.
KATEK SE said the proceeds from the newly issued shares in the amount of approximately 80 million euros will be used in particular to accelerate the organic and inorganic growth strategy.
Aroundtown, CPI Property To Launch Offer For Globalworth Real Estate Investments
Aroundtown SA, together with CPI Property Group SA, announced their firm intention to launch a joint cash offer for Globalworth Real Estate Investments Limited. The consortium, which holds over 50% of the issued share capital of Globalworth, is planning to raise its joint ownership through an offer to Globalworth shareholders to acquire their shares at a price of at 7.0 euros in cash for each tendered Globalworth share.
Aroundtown SA is a public limited liability company trading on the Prime Standard of the Frankfurt Stock Exchange. Aroundtown invests in income generating quality properties with value-add potential in central locations in top tier European cities.