Helical Issues Trading Update; Reports £67 Mln Of Available Cash

Publicis Groupe H1 Headline Profit Declines; Organic Revenue Down 8.0%

Publicis Groupe (PGPEF.PK,PUBGY.PK) reported that its first half net income attributable to the Groupe was 136 million euros, compared to 345 million euros, prior year. Earnings per share was 0.57 euros compared to 1.48 euros. EBITDA was 923 million euros, up by 4.3%, including the contribution of Epsilon. Headline Groupe net income was 417 million euros, down 9.9% year-on-year. Headline earnings per share was 1.75 euros compared to 1.98 euros.

First half net revenue was 4.77 billion euros, up by 9.7%, with the contribution of Epsilon. Organic revenue declined 8.0%, for the period.

Arthur Sadoun, CEO of Publicis Groupe, said: “Our organic growth was negative at 8.0% with second quarter negative at 13.0%, significantly better than the 23% decline in Global advertising expenditures predicted by Zenith and the 30% mentioned by WFA for second quarter.”

Pernod Ricard Lifts FY20 Organic Profit From Recurring Operations Outlook

French drinks company Pernod Ricard SA (PDRDF.PK,PDRDY.PK,PRN.L) said that it now expects an organic decline in profit from recurring operations of 15% for fiscal year 2020. Previously, it expected annual organic profit from recurring operations declined 20%.

Organic growth was calculated after excluding the impacts of exchange rate movements and acquisitions and disposals, the company said.

SpiceJet to fly to United States

The budget airliner been designated as the ‘Indian scheduled carrier’

Budget carrier SpiceJet on Thursday said it has been designated as the “Indian scheduled carrier,” to operate flights to the U.S.

SpiceJet would be the first Indian budget carrier to operate services to the United States.

Also read: International flights can now be booked on travel portals

Currently, only the national carrier Air India is operating flights on India-US routes.

In a regulatory filing SpiceJet said it has been designated as an Indian scheduled carrier to operate on agreed services between between the two countries.

This has been done in terms of the Air Services Agreement between India and the United States, the filing said.

All international commercial air passenger services are suspended since March 22, in the wake of travel restrictions due to the coronavirus pandemic.

SpiceJet Chairman & Managing Director Ajay Singh said the designation as an Indian scheduled carrier to operate between India and the US would help the airline in planning its international expansion in a much better and calibrated manner.

“I have always maintained that there is an opportunity in every adversity and the present crisis situation has seen SpiceJet rise to the occasion and play a pivotal role,” he said.

IG Group FY Net Trading Revenue Up 36% – Quick Facts

IG Group Holdings plc (IGG.L) reported a 36% growth in full-year net trading revenue, underpinned by good growth in the first three quarters of the financial year, prior to the heightened market volatility in the fourth quarter.

Full-year net trading revenue of £649.2 million, an increase of 36%, compared to £476.9 million last year.

Profit before tax increased 52% to £295.9 million from £194.3 million reported in the same period of last year. Basic earnings grew 52% to 65.3 pence per share from 43.1 pence per share last year.

The company noted that during Q4 record levels of client onboarding saw 35,300 new OTC Leveraged clients, 17,900 new stock trading clients and 3,200 new on-exchange clients placing a first trade in the period. New clients onboarded in Q4 FY20 generated 14% of the total OTC Leveraged revenue in the quarter, IG Group added.

Beazley Group Slips To Loss In H1, Premiums Climb; Stock Up

Risk insurance and reinsurance provider Beazley Group Plc (BEZ.L) reported Thursday that its first-half loss before tax was $13.8 million, compared to prior year’s profit before tax of $166.4 million.

Loss per share was 1.7 pence, compared to profit of 20.4 pence last year.. In dollar cents, loss was 2.2 cents per share, compared to profit of 26.4 cents per share last year.

Net assets per share grew to 239.0 pence from 232.3 pence a year ago. Net investment income fell to $83.2 million from $170.3 million a year ago.

Gross premiums written increased 12 percent to $1.66 billion from $1.48 billion a year ago, with three of its seven divisions achieving double digit growth.

Net premiums written increased 8 percent to $1.32 billion from last year’s $1.23 billion.

The company noted that claims arising from the pandemic resulted in combined ratio to 107 percent.

Going ahead for the year, the company expect to achieve a combined ratio of around 100 percent.

Further, the board has taken the decision not to declare a dividend for the first half of 2020.

In London, Beazley shares were trading at 444.60 pence, up 3.16 percent.

Helical Issues Trading Update; Reports £67 Mln Of Available Cash

Helical Plc (HLCL.L), on Thursday, issued trading update “against a background of growing optimism that the immediate health threat presented by Covid-19 is receding, permitting the continued re-opening of the UK economy.”

Gerald Kaye, Chief Executive, said, “…With city centre retailers and food and beverage operators now open, it is vitally important to the economies of the cities in which we operate, London and Manchester, as well as across the country, that businesses act on the Government’s encouragement to return to their offices to work. This will generate considerable and much needed economic activity with a positive knock on effect across a range of sectors.”

As of July 22, 2020, the Group had £67 million of available cash, £531 million of investment facilities of which £360 million was drawn down and £88 million of development facilities of which £11 million was drawn down.

The final dividend of 6.00 pence for the fiscal year ended 31 March 2020 would be paid on 27 July 2020, if approved by Shareholders at the AGM. This would take the total dividend for the year to 8.70 pence versus 10.10p in 2019.

Further, the company noted that Sue Farr would assume the role of Chair of the Remuneration Committee at the Annual General Meeting and subject to her re-election. Sue would succeed Richard Cotton, who has been Chair of the Remuneration Committee since July 11, 2019.

Meanwhile, Richard would remain as the Senior Independent Director and a member of the Board and its Committees.