Monday, 26 Feb 2024

Gold Rises On Dollar Weakness Ahead Of US Inflation Data

Derwent London Slips To Loss Before Tax In H1; Maintains FY23 Guidance

Derwent London Plc (DLN.L) a REIT firm, on Thursday reported a loss before tax for the first half of the year, compared to a profit last year. However gross rental income increased by 3.9 percent. The company also kept its full year rental value outlook unchanged.

The company reported a loss before tax of 143.1 million pounds, compared to profit of 137.1 million pounds for the same period last year.

EPRA earnings declined 7 percent to 55.6 million pounds or 49.5 pence per share from 59.7 million pounds or 53.2 pence per share in the previous year, on increase in irrecoverable property expenditures.

Net rental income decreased to 90.9 million pounds from 94 million pounds of the prior year.

Gross rental income, however, increased to 105.9 million pounds from 101.9 million pounds last year, on additional income from the occupied offices at Soho Place W1 and The Featherstone Building EC1.

In addition, the company declared an interim dividend 24.5 pence per share, an increase of 2.1 percent, payable on October 13 to shareholders of record on September 8.

Looking ahead to the full year, Derwent London continues to expect an average estimated rental value growth in the range of 0 percent to 3 percent.

Currently, shares of Derwent are trading at 2190.00 pence, up 1.30% on the London Stock Exchange

Cancom H1 Group EBITA Down, Revenues Rise; Maintains Adjusted FY23 View

IT service provider Cancom Group (CNCXY.PK) reported Thursday that its first-half Group EBITA declined to 18.9 million euros from previous year’s 30.9 million euros.

Group EBITDA was 41.5 million euros, down from last year’s 51.1 million euros, due to one-off effects of 10.2 million euros.

At Group level, revenue increased 8.6 percent to 647.0 million euros from previous year’s 595.5 million euros, after K-Businesscom acquisition.

Revenue in the service business grew 23.2 percent to 216.6 million euros in the first half of the year.

Looking ahead, the company projects challenging environment in the second half of the year.

The company on August 1 adjusted fiscal 2023 forecast in view of the additional costs arising from the efficiency and profitability programme and the M+A costs, as well as the difficult economic environment.

For the year, the company now expects EBITA of 67 million euros to 75 million euros, and EBITDA of 116 million euros to 126 million euros, on revenue of 1.52 billion euros to 1.58 billion euros.

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Capital & Regional H1 Adj. Profit Rises

Capital & Regional (CAL.L) reported first-half profit before tax of 4.9 million pounds compared to 18.9 million pounds, last year. Earnings per share from continuing operations was 3.5 pence compared to 11.9 pence.

Adjusted profit increased to 7.0 million pounds from 5.9 million pounds, last year. Adjusted earnings per share was 4.1 pence compared to 3.5 pence. EPRA earnings per share increased to 4.1 pence from 3.7 pence.

First half revenue was 30.7 million pounds compared to 28.5 million pounds, last year. Like-for-like net rental income increased 13% driven primarily by improved occupancy and rent collection.

Capital & Regional has entered into an agreement to acquire The Gyle Shopping Centre in Edinburgh for a total acquisition consideration of 40 million pounds, excluding acquisition costs. The consideration is to be financed through existing funds held by the company, a new debt facility of 16 million pounds and the approximately 25 million pounds of gross proceeds to be received pursuant to a fully underwritten Open Offer.

The Directors recommended an interim dividend of 2.75 pence per share. The Group expects to pay a final dividend of at least the same level to the interim dividend.

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Hanesbrands Inc. Q2 Earnings Summary

Below are the earnings highlights for Hanesbrands Inc. (HBI):

Earnings: -$22.46 million in Q2 vs. $92.10 million in the same period last year.
EPS: -$0.06 in Q2 vs. $0.26 in the same period last year.
Excluding items, Hanesbrands Inc. reported adjusted earnings of -$4.40 million or -$0.01 per share for the period.

Analysts projected -$0.02 per share
Revenue: $1.44 billion in Q2 vs. $1.51 billion in the same period last year.

Next quarter EPS guidance: $0.07 – $0.13
Next quarter revenue guidance: $1.52 – $1.57 Bln
Full year EPS guidance: $0.16 – $0.30
Full year revenue guidance: $5.80 – $5.90 Bln

Six Flags Entertainment Corp. Reports Fall In Q2 Bottom Line, misses estimates

Six Flags Entertainment Corp. (SIX) released a profit for second quarter that decreased from last year and missed the Street estimates.

The company’s bottom line came in at $20.55 million, or $0.25 per share. This compares with $45.39 million, or $0.53 per share, in last year’s second quarter.

Analysts on average had expected the company to earn $0.78 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 1.9% to $443.71 million from $435.42 million last year.

Six Flags Entertainment Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $20.55 Mln. vs. $45.39 Mln. last year.
-EPS (Q2): $0.25 vs. $0.53 last year.
-Analyst Estimates: $0.78
-Revenue (Q2): $443.71 Mln vs. $435.42 Mln last year.

Gold Rises On Dollar Weakness Ahead Of US Inflation Data

Gold traded higher on Thursday ahead of U.S. CPI data that might offer clues on whether the Fed pauses, pivots or marches upwards with rates.

Markets are positioning for a slight increase in the headline rate but a decline in the core rate of inflation.

Spot gold rose 0.4 percent to $1,921.38 per ounce, while U.S. gold futures were up 0.2 percent at $1,953.85.

The dollar dipped against most currencies, driving demand for the precious metal.

The U.S. CPI report is forecast show inflation rising 0.2 percent in July, matching the uptick seen in June.

The annual rate of consumer price growth is expected to accelerate to 3.3 percent in July from 3.0 percent in June, while the annual rate of core consumer price growth is expected to hold at 4.8 percent.

Markets are hoping that cooler inflation will push the Fed to end its rate hike campaign.

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