Wednesday, 2 Oct 2024

Bodycote Turns To Pre-tax Profit In FY21; Lifts Dividend; Says Outlook Positive

March Madness 2022: Printable bracket for the NCAA men’s basketball tournament – The Denver Post

College basketball fan rejoice! March Madness is upon us.

The 2022 NCAA Tournament is here, which means it’s bracket season. And we’re here to help. Download the bracket here:

‘Billions’ Season 6, Episode 8 Recap: Games Over

The nice guy routine served Prince well as he built New York’s bid for the Olympics. Until it didn’t.

By Sean T. Collins

March Madness 2022: Printable bracket for the NCAA women’s basketball tournament – The Denver Post

College basketball fan rejoice! March Madness is upon us.

The 2022 NCAA Tournament is here, which means it’s bracket season. And we’re here to help. Download the bracket here:

Eurozone Sentix Investor Confidence Plunges In March

Eurozone investor sentiment declined dramatically to a 16-month low due to the Ukraine war, survey results from the behavioral research firm Sentix showed on Monday.

After two consecutive improvements, the investor confidence index plunged to -7.0 in March from +16.6 in February. This was the lowest score since November 2020 and well below the economists’ forecast of 5.3.

Both current assessment and expectations weakened notably in March. The current situation index declined 11.5 points to 7.8, the lowest since last May.

At the same time, the expectations index fell sharply by 34.8 points, which was the biggest fall in the survey history. The index reached -20.8 in March, the weakest since August 2012.

The survey showed that the German economy suffered a severe setback with the Russian invasion of Ukraine. The investor sentiment index slid 23.1 points to -5.2 in March, the weakest since July 2020.

The dependence on Russian energy and the geographic proximity to the crisis region weighed on the confidence, Sentix said.

The current situation index declined to 10.0 from 20.0, while the expectations indicator logged a marked fall in March, to -19.3 from +15.8 in February.

The survey was conducted among 1,216 investors between March 3 and 5.

Phoenix Group 2021 Operating Profit Before Tax Rises; Announces Organic Dividend Increase Of 3%

Phoenix Group Holdings PLC (PHNX.L) posted a loss before tax attributable to owners of 688 million pounds for the year ended 31 December 2021, compared to profit of 944 million pounds, prior year. Loss per share was 86.4 pence compared to profit of 91.5 pence. IFRS operating profit before tax increased to 1.23 billion pounds from 1.20 billion pounds.

Total revenue, net of reinsurance payable, was 6.38 billion pounds compared to 4.70 billion pounds, last year. Net premiums written increased to 5.38 billion pounds from 3.91 billion pounds.

The Board recommended the Group’s inaugural organic dividend increase of 3% in the final 2021 dividend to 24.8 pence per share. This equates to a total 2021 dividend of 48.9 pence per share. The recommended final dividend is expected to be paid on 9 May 2022.

The Board has announced Phoenix Group’s new dividend policy and now plans to pay a dividend that is sustainable and grows over time.

TIM Board Decides To Mandate Chairman And CEO For Talks With KKR

TIM said its Board unanimously deliberated to mandate the Chairman and the CEO to begin formal talks with Kohlberg Kravis Roberts & Co. L.P. or KKR, beyond those already held by the advisors, in order to maximize shareholder value also in relation to other potentially interested parties. The company will hold these activities with the support of its advisors.

On November 26, 2021, the Board established an ad-hoc Committee, which appointed the financial and legal advisors on December 6, 2021. The Board now reviewed the results of the analysis of the indicative, non-binding expression made by its financial advisors. Based on the financial advisors’ preliminary valuations of the company’s valorization based on the 2022-2024 plan and the projections to 2030, the Board reiterated its deliberation to pursue the plan and to continue to explore and execute the discontinuity plan.

What’s on TV This Week: ‘Phoenix Rising’ and ‘Welcome to Flatch’

A two-part documentary about Evan Rachel Wood’s activism around domestic violence debuts on HBO. And a new comedy series begins on Fox.


By Gabe Cohn

Bodycote Turns To Pre-tax Profit In FY21; Lifts Dividend; Says Outlook Positive

Bodycote plc (BOY.L), a provider of heat treatment and thermal processing services, reported Monday that its fiscal 2021 profit before taxation was 77.5 million pounds, compared to last year’s loss of 1.5 million pounds.

Profit after tax surged to 60 million pounds from 0.8 million pounds a year ago. Basic earnings per share grew to 31.2 pence from prior year’s 0.2 pence.

Basic headline earnings per share were 35.8 pence, compared to 27.8 pence last year.

Revenue increased 3 percent to 615.8 million pounds from last year’s 598.0 million pounds. Revenues went up 7.1% at constant currency and organic revenues grew 5.2%.

Further, the Board has recommended a final ordinary dividend of 13.8p, up from 13.4p last year, bringing the total ordinary dividend to 20.0p, up from 19.4p last year.

The final ordinary dividend will be paid on June 3 to shareholders on the register at the close of business on April 22.

Looking ahead, Stephen Harris, Group Chief Executive said, “the Board expects further progress in 2022, but remains mindful of the current geo-political and macro-economic landscape… Looking further ahead, the outlook for the business remains positive as we benefit from high profit drop through on revenue growth across all our market sectors.”

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