Wednesday, 19 Jun 2024

Infineon Buys Swedish Tiny Machine Learning Firm Imagimob For Undisclosed Terms

Marston's Posts HY Loss

Marston’s Plc (MARS.L), a British pub and hotel operator, reported that its loss attributable to equity shareholders for the 26 weeks ended 1 April 2023 was 28.8 million pounds or 4.5 pence per share compared to net income of 19.4 million pounds or 3.0 pence per share in the prior year.

Underlying loss per share narrowed to 0.5 pence per share from 1.0 pence last year.

Loss before taxation was 38.1 million pounds compared to profit before tax of 25.6 million pounds in the previous year.

Revenue for the 26 weeks ended 1 April 2023 was 407.0 million pounds, 10.1% higher than the same period last year reflecting the continued rebuilding of trading momentum post Omicron.

Like-for-like sales for the period were up 10.7% compared to last year, continuing to show strong like-for-like performance, encouraging recovery from COVID-19 and the positive impact of strategy.

The company confirmed that given the continued macroeconomic uncertainty, no dividends will be paid in respect of financial year 2023.

Trading since the half year end is strong. Like-for-like sales in managed and franchised pubs were up 7.9%.

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Miniso Q3 Earnings, Revenue Improve

MINISO Group Holding Ltd. (MNSO), a global value retailer of design-led lifestyle products, Tuesday, reported higher earnings for the third quarter of 2023 on soaring foot traffic and transaction value in its domestic stores along with an increase in the pace of store openings due to a bullish outlook. Revenue also increased by 26.2%.

Third-quarter earnings increased to RMB 470.9 million or $68.6 million from RMB 92.67 million or $14.61 million for the same quarter of last year reflecting an increase of 408.2% year-over-year.

Adjusted earnings increased to RMB 483.0 million or $70.3 million from RMB 110.69 million or $17.46 million for the same period of prior year, 336.3% increase.

Adjusted earnings per ADS were RMB 1.52 or $0.22, compared to RMB 0.36 a year ago.

Revenue increased to RMB 2.95 billion or $430.2 million from RMB 2.34 billion or $369.28 million for the same period last year.

Monday, during the regular trading hours, shares of Miniso closed at $17.33 up 4.46% or $0.74 on the New York Stock Exchange.

Britvic H1 Earnings, Sales Improve

Britvic Plc (BVIC.L), a British producer of soft drinks, on Tuesday reported a rise in earnings for the first-half, amidst an increase in revenue, supported by solid consumer demand.

Simon Litherland, Chief Executive Officer of Britvic, said: “Consumer demand has remained solid, with only a modest volume decline in the first half. Through a combination of revenue growth management actions and cost discipline we have been able to mitigate the cost inflation pressures…”

For the six-month period to March 31, the company reported a pre-tax income of 69.3 million pounds, higher than 59.3 million pounds, recorded for the same period of previous fiscal.

Excluding items, pre-tax earnings increased to 69.6 million pounds from 61.4 million pounds during the same period last year.

Net profit was at 54.4 million pounds or 20.9 pence per share as against last year’s 45.9 million pounds or 17.1 pence per share.

Adjusted income per share stood at 22.6 pence, compared with 19.4 pence per share a year ago.

Operating income rose to 80.7 million pounds from 67.1 million pounds a year ago.

Revenues were at 794 million pounds, compared with 719.3 million pounds of previous year period.

Britvic will pay an interim dividend of 8.2 pence per share, to be paid on July 5, to shareholders on record as of May 26.

Imperial Brands H1 Profit Rises; On Course To Meet FY Guidance

Imperial Brands PLC (IMB.L,IMBBF.PK,IMBBY.PK) reported that its first half profit before tax increased to 1.44 billion pounds from 1.26 billion pounds, prior year. Earnings per share was 116.1 pence compared to 104.8 pence. Adjusted operating profit increased to 1.72 billion pounds from 1.60 billion pounds, last year. Adjusted earnings per share was 118.5 pence compared to 113.0 pence.

First half revenue increased to 15.41 billion pounds from 15.36 billion pounds, last year. Adjusted revenue was 3.66 billion pounds compared to 3.49 billion pounds.

Looking forward, Imperial Brands said it is on course to meet full-year guidance, with improving returns in line with five-year strategy.

The Board has approved an interim dividend of 43.18 pence per share which represents an increase of 1.5 % over the prior year. The interim dividend will be paid in two instalments of 21.59 pence per share with the first payment being paid on 30 June 2023 to shareholders registered on 26 May 2023. The second interim dividend payment will be paid on 29 September 2023 to shareholders registered on 18 August 2023.

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Infineon Buys Swedish Tiny Machine Learning Firm Imagimob For Undisclosed Terms

Infineon Technologies AG (IFNNY), a German semiconductor company, Tuesday announced that it has acquired Stockholm-based startup Imagimob AB. Both parties have agreed not to disclose the financial terms of the deal.

Imagimob offers Tiny Machine Learning and Automated Machine Learning or AutoML solutions. It is a platform provider for Machine Learning solutions for edge devices. Imagimob is a development platform for the swift and easy end-to-end development of Edge AI applications for devices with constrained resources.

With the acquisition, Infineon advances its position in Machine Learning solution and significantly complements its AI offerings. The firm also expects to strengthen its offering in embedded AI solutions.

Thomas Rosteck, President of Infineon’s Connected Secure Systems division, said, “Artificial Intelligence and Machine Learning respectively are about to largely enter every embedded application and thus enable new functionalities. With Imagimob’s outstanding platform and its expertise in developing robust machine learning solutions for edge devices, we further strengthen our ability to enable new levels of control and energy efficiency on our products while preserving privacy.”

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