McBride Plc H1 Adj. Pretax Profit From Cont. Ops. Rises – Quick Facts
McBride plc (MCB.L) reported profit before tax from continuing operations of 13.5 million pounds for the six months ended 31 December 2020 compared to 6.6 million pounds, prior year. Earnings per share from continuing operations was 5.4 pence compared to 2.0 pence. Adjusted profit before tax increased to 16.9 million pounds from 9.7 million pounds. Adjusted earnings per share from continuing operations was 7.1 pence compared to 3.7 pence.
First half Group revenues were 362.9 million pounds, 3.6% higher or up 1.7% at constant currency.
Bharti Airtel ties up with Qualcomm for 5G services in India
BENGALURU (Reuters) – Indian telecom operator Bharti Airtel said on Tuesday it will collaborate with U.S. chipmaker Qualcomm to roll out 5G services in India.
The country’s second-largest telecom operator said it will use Qualcomm’s 5G RAN platforms to roll out virtualized and open RAN-based 5G networks.
G4S Plc Recommends Shareholders Accept Final Allied Universal Offer – Quick Facts
G4S plc (GFSZY.PK,GFS.L) announced its Directors unanimously recommend that G4S shareholders accept the final Allied Universal offer. The final Allied Universal offer values the issued and to be issued ordinary share capital of G4S at approximately 3.8 billion pounds. G4S plc noted that the price of the final Allied Universal offer, at 245 pence per G4S share, is superior to the price of the final GardaWorld offer.
Separately, Allied Universal Security Srvcs LLC announced that its offer is being further extended and will remain open for acceptance until the next closing date which will be on 16 March 2021. Allied Bidco confirmed that it is waiving down the percentage required to satisfy the acceptance condition from 90 percent to 75 percent in nominal value and voting rights of G4S Shares.
Rational Expects Slight Growth In FY Sales Revenues
Professional kitchen specialist Rational AG (RTLLF.PK) said it expects sales volumes and sales revenues to only grow slightly in 2021. It projects EBIT margin for the 2021 fiscal year to be at the same level as the previous year.
The company said it is starting 2021 with caution, due to the extended protection measures in several countries to prevent the spread of coronavirus. The unpredictability of easing or tightening restrictions is additionally unsettling many customers. The hotel and restaurant customer groups are especially hard hit by those effects.
However, the company said it continues to regard its economic and market situation as good in the medium to long term.
The company said market conditions are likely to return to normal, as the effects of coronavirus tail off and the numerous financial aid packages take effect.
Intercontinental Hotels Group FY Operating Profit Before Exceptional Items Declines
Intercontinental Hotels Group PLC (IHG.L,IHG) reported a loss before tax of $280 million for the year ended 31 December, 2020, compared to profit of $542 million, prior year. Loss per share, in cents, was 142.9 compared to profit of 209.2. Operating profit before exceptional items declined to $117 million from $816 million. Adjusted earnings per share, in cents, declined to 31.3 from 301.6.
Fiscal 2020 total revenue was $2.39 billion, down 48.3 percent from previous year. Underlying revenue decreased by 52.0%. Group comparable RevPAR was down 53% in the full year.
Kumba Iron Ore 2020 Profit Rises
Kumba Iron Ore reported EBITDA of 45.8 billion Rand for the year ended 31 December, 2020, an increase of 37% from prior year driven by strong revenue growth, despite lower sales volumes. EBITDA margin rose to 57% from 52%.
For the full year, total revenue increased by 25% to 80.1 billion Rand. The company reported production of 37.0 Mt and sales of 39.7 Mt.
For 2021, the company anticipates production and sales of between 40.0 Mt and 41.0 Mt.
The Board decided to declare a final cash dividend of 41.30 Rand per share. Combined with the interim cash dividend, the total cash dividend for the year increased by 30% to 60.90 Rand per share.
Treasury yields rise ahead of Fed Chair Powell's testimony on the economy
- Federal Reserve Chairman Jerome Powell is expected to speak at 10 a.m. ET on Tuesday.
- Powell's speeches this week will likely be closely watched for how he views the recent run-up in bond yields and for any comments on inflation.
U.S. Treasury yields rose on Tuesday morning, ahead of Federal Reserve Chairman Jerome Powell's first of two speeches in Congress this week, as part of a mandated semiannual testimony on the economy.
The yield on the benchmark 10-year Treasury note advanced to 1.376% at 4 a.m. ET, while the yield on the 30-year Treasury bond climbed to 2.198%. Yields move inversely to prices.
Powell is expected to speak at 10 a.m. ET on Tuesday. While the semiannual testimonies are normally nonevents for the market, Powell's speeches this week will likely be closely watched for how he views the recent run-up in bond yields and for any comments on inflation.
Data for December from the S&P CoreLogic Case-Schiller home price index, which tracks residential property prices in 20 major U.S. cities, is due out at 9 a.m. ET.
Auctions will be held Tuesday for $34 billion of 52-week bills, $30 billion of 42-day bills and $60 billion of 2-year notes.
— CNBC's Jeff Cox contributed to this report.
Pfeiffer Vacuum Technology Preliminary Q4 Operating Result Declines – Quick Facts
Pfeiffer Vacuum Technology AG (PFFVF.PK,PVTCY.PK) reported fourth quarter EBIT of 9.6 million euros compared to 16.2 million euros, prior year, a decline of 40.9%. Sales were down 0.4% at 164.8 million euros. Order intake improved 14.3% year-on-year to 170.0 million euros.
The Management Board decided to propose to the Supervisory Board and the Annual General Meeting to pay out a dividend of 1.60 euros per share.
The company’s audited Consolidated Financial Statements are scheduled to be published on March 25, 2021.