Dunelm Group H1 Profit Down, Sales Rise; Backs FY23 Profit View – Quick Facts

Ahold Delhaize Q4 Profit Climbs, Lifts Dividend; Sees Flat Underlying EPS In FY23

Dutch food retailer Ahold Delhaize (ADRND.PK) on Wednesday reported that its fourth-quarter net income, on IFRS basis, was 809 million euros, up 27.6 percent from 634 million euros a year ago.

Earnings per share were 0.82 euro, 32.4 percent higher than last year’s 0.62 euro.

Underlying income from continuing operations was 707 million euros, an increase of 18.2 percent in the quarter.

Underlying earnings per share were 0.72 euro, up 22.6 percent from last year’s 0.59 euro.

Group net sales for the quarter were 23.36 billion euros, an increase of 15.9 percent from prior year’s 20.15 billion euros. Net sales grew 8.1 percent at constant exchange rates.

Comparable sales excluding gas increased 9.3 percent in the U.S. and 5.7 percent in Europe.

Further, Ahold Delhaize proposed a cash dividend of 1.05 euros for fiscal year 2022, which is a 10.5 percent increase compared to 2021.

Looking ahead for fiscal 2023, underlying earnings per share is expected to be around 2022 levels. Ahold Delhaize’s Group underlying operating margin is expected to be in line or above 4 percent.

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UK inflation dips slightly to 10.1 percent

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The Office for National Statistics (ONS) reports that the rate of Consumer Price Index (CPI) inflation for January 2023 dropped to 10.1 percent. Over the past year, the rate of CPI inflation has remained extremely high and even reached a 41-year high of 11.1 percent in the last quarter of 2022.

Today’s figure is the latest sign that the economy is continuing to improve despite the fact the inflation rate continues to be high

READ MORE: ‘World beating’ Isa savings option yields 6.6% with more to come

More to follow…

Emergent BioSolutions To Sell Travel Health Business For Up To $380 Mln

Emergent BioSolutions Inc. (EBS), a specialty biopharmaceutical firm, said on Wednesday that it has signed a deal to sell its travel health business to Bavarian Nordic A/S (BVNKF.PK), for up to $380 million.

The sale of Emergent’s travel health business serves as part of its previously announced strategic prioritization of its medical countermeasure products, to improve its profitability in the long run.

Out of $380 million, Emergent will get $270 million in the form of upfront cash consideration.

In addition, Bavarian Nordic will pay up to $30 million in sales-based milestones associated with the commercial products, and up to $80 million in development-based milestones associated with the CHIKV VLP program.

The transaction, expected to be closed in the second quarter, will allow Bavarian Nordic to acquire the rights to VIVOTIF, indicated for the active immunization to prevent typhoid fever, and VAXCHORA, indicated for the active immunization to prevent cholera, as well as the development-stage chikungunya vaccine candidate CHIKV VLP.

Bavarian Nordic will also acquire Emergent’s manufacturing site in Bern, and development facilities in San Diego, California.

Kering Full-year Profit Rises

Kering (PPRUY.PK), a French luxury goods company, on Wednesday reported a rise in earnings for the full year, helped by an increase in revenue.

It reported improvement in revenue from the directly operated retail network, which includes e-commerce sites, rising 10 percent on a comparable basis in 2022, driven in particular by Western Europe and Japan.

For the 12-month period, the Paris-headquartered firm registered a profit of 3.614 billion euros or 29.31 euros per share, compared with 3.176 billion euros or 25.49 euros per share a year ago.

Pre-tax income was at 5.135 billion euros, up from 4.524 billion euros of previous fiscal.

Operating income moved up to 5.395 billion euros from 4.797 billion euros of 2021.

For 2022, the Group generated revenue of 20.351 billion euros, higher than last year’s 17.645 billion euros of previous year.

The company said it will pay a final dividend of 9.50 euros per share on May 4.

Glencore Plc Preliminary FY22 Profit Rises; Revenue Up 26%

Glencore Plc (GLCNF.PK,GLNCY.PK,GLEN.L) said the unprecedented developments in global energy markets were material drivers for both marketing and industrial businesses, resulting in a 60 percent growth in fiscal 2022 Group adjusted EBITDA to $34.1 billion. Net income, pre-significant items, was $18.9 billion, up 107% from last year. Basic earnings per share, pre-significant items, was $1.44 compared to $0.69.

Post significant items, net income for the year attributable to equity holders increased to $17.32 billion from $4.97 billion, last year. Basic earnings per share was $1.33 compared to $0.38. The company noted that the significant items reflect various impairments recorded and a gain on the acquisition of Cerrejón.

Fiscal 2022 revenue was $255.98 billion, an increase of 26% from prior year.

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Dunelm Group H1 Profit Down, Sales Rise; Backs FY23 Profit View – Quick Facts

British homewares retailer Dunelm Group Plc (DNLM.L) reported Wednesday that its first-quarter profit before tax declined 16.6 percent to 117.4 million pounds from last year’s 140.8 million pounds.

Earnings per share were 45.8 pence, down 17.3 percent from 55.4 pence a year ago.

The earnings were down as expected, reflecting impact of Sale timing and strong post-pandemic demand in the prior year, and inflationary impacts.

Total sales, however, grew 5 percent to 835.0 million pounds from prior year’s 795.6 million pounds.

Further, the company announced interim dividend of 15 pence per share, an increase of 7.1 percent from last year. The company also declared a special dividend of 40 pence per share.

Looking ahead for fiscal 2023, Dunelm maintained its previous expectations for profit before tax.

In September, the company confirmed to be on track to deliver full-year profit before tax in line with analysts’ expectations. The consensus average of analysts’ expectations then was 178 million pounds, with a range of 130 million pounds to 193 million pounds.

The current company compiled consensus average of analysts’ expectations for full-year profit before tax is 176 million pounds, with a range of 131 million pounds to 188 million pounds.

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