C&C Turns To Profit In FY22, Says FY23 Started Strongly; Sells Stake In Admiral Taverns

SS&C Technologies Acquires MineralWare For $18 Mln

SS&C Technologies Holdings Inc. (SSNC) Monday said it has acquired 5 M’s Minerals Management, LLC, a Texas limited liability company doing business as “MineralWare”, for $18 million in cash.

MineralWare’s cloud-based asset management platform focuses on managing minerals, royalties and non-operated working interests.

Based in Fort Worth, Texas, MineralWare serves financial institutions, universities and foundations, high-net-worth individuals and family offices, mineral and royalty acquisition companies in the U.S. MineralWare will operate within the SS&C Innovest businesses reporting to Glenn Schmidt, General Manager, SS&C Innovest. The deal will add 350 institutional and high-net-worth clients and $5.5 million in annual recurring revenue to the existing SS&C platform, with a combined portfolio of 750,000 mineral assets.

The Many Sides of Curry Leaves

The distinctive aroma of this earthy herb is the backbone of so many recipes for good reason.

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By Zinara Rathnayake

Opinion | From Voodoo to MAGA to Buffalo

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By Paul Krugman

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‘Better Call Saul’ Season 6, Episode 6 Recap: The Smell Test

Jimmy and Kim prepare for “D-Day,” Howard tries to make peace, and Lalo has some questions.

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By David Segal

Vodafone FY22 Profit Surges; Issues FY23 Adj. EBITDAaL Outlook – Quick Facts

British telecom major Vodafone Group Plc (VOD.L,VOD) reported Tuesday that its fiscal 2022 profit surged to 2.62 billion euros from last year’s 536 million euros. Basic earnings per share were 7.20 cents, up from 0.38 cent last year.

Adjusted basic earnings per share were 11.03 cents, compared to prior year’s 8.08 cents.

Adjusted EBITDAaL grew 5 percent organically to 15.21 billion euros.

Group revenue increased to 45.58 billion euros from prior year’s 43.81 billion euros. Organic revenue growth was 4 percent.

Looking ahead, the company said it expects to deliver a resilient financial performance in the year ahead.

Looking ahead for fiscal 2023, adjusted EBITDAaL is expected to be between 15.0 billion euros and 15.5 billion euros, and adjusted free cash flow to be about 5.3 billion euros.

Britvic Plc H1 Adj. Profit Rises; Underlying Revenue Up 18.5%

Britvic plc (BVIC.L) said it recorded first half growth in underlying revenue of 18.5%, adjusted EBIT of 20.7%, and underlying margin improvement of 20bps. The Group noted that it continues to generate strong cash flow and have increased the interim dividend by 20%.

First half adjusted EBIT increased 20.7% to 73.5 million pounds. Adjusted earnings per share was 19.4 pence compared to 15.1 pence.

Profit before tax increased to 59.3 million pounds from 39.8 million pounds, previous year. Earnings per share was 17.1 pence compared to 11.6 pence. Revenue increased to 719.3 million pounds from 617.1 million pounds.

The Board of Britvic plc believes it is appropriate to commence an initial 75 million pounds share repurchase programme, to be executed within the next 12 months. The Group’s dividend policy remains unchanged.

The Board declared an interim dividend of 7.8 pence per share. The interim dividend for 2022 will be paid on 6 July 2022 to shareholders on record as of 27 May 2022.

Imperial Brands Plc H1 Adj. Operating Profit Rises

Imperial Brands plc (IMB.L,IMBBF.PK,IMBBY.PK) reported that its Group net revenues grew 0.3 percent and adjusted operating profit rose 2.9 percent, both on a constant currency basis, for the six months ended 31 March 2022. The Growth in adjusted operating profit was driven by reduced losses in NGP reflecting prior year market exits, the Group noted. Looking forward, Imperial Brands said it is on track to deliver full year results in line with guidance.

First half adjusted operating profit increased to 1.60 billion pounds from 1.59 billion pounds, last year. Adjusted earnings per share was 112.6 pence compared to 107.5 pence.

Profit before tax declined to 1.26 billion pounds from 2.06 billion pounds, previous year. Earnings per share was 104.8 pence compared to 190.9 pence. Revenue was 15.36 billion pounds compared to 15.57 billion pounds.

The Board has approved an interim dividend of 42.54 pence per share which will be paid in two payments of 21.27 pence per share. The interim dividend is an increase of 1 percent.

C&C Turns To Profit In FY22, Says FY23 Started Strongly; Sells Stake In Admiral Taverns

C&C Group plc (CCR.L), a premium drinks company, reported Tuesday that its fiscal 2022 profit before tax was 45.7 million euros, compared to prior year’s loss of 121.3 million euros.

Earnings per share were 9.9 cents, compared to loss of 31.1 cents last year.

Adjusted profit before tax was 34.4 million euros, compared to loss of 85.2 million euros a year ago. Adjusted earnings per share were 7.5 cents, compared to loss of 21.1 cents in the previous year.

Adjusted EBITDA was 79.7 million euros, while last year’s loss was 31.7 million euros.

Net revenue climbed to 1.44 billion euros from last year’s 736.9 million euros. Net revenue increased 87.8 percent at constant currency basis.

Regarding the outlook, the company said fiscal 2023 has started strongly with net revenue up 12 percent of pre-COVID levels for the two months to April 30, 2022 and 140 percent of FY2021.

Reflecting strong Balance Sheet position and cash flow capability, the Board’s objective is to return to paying a dividend in due course.

Further, C&C announced the sale of its entire minority interest in Admiral Taverns to Proprium Capital Partners, with whom it originally invested into Admiral Taverns in September 2017. The total gross aggregate cash consideration is 65.8 million euros or 55.0 million pounds.