Tuesday, 4 Oct 2022

M&G Plc H1 Adj. Operating Profit Before Tax Declines – Quick Facts

Treasure Global Prices IPO Of 2 Mln Shares At $4.00/shr

Treasure Global Inc (TGL), an e-commerce platform providing payment solutions and rewards programs, said that it has priced its upsized initial public offering of 2 million shares of its common stock at a public offering price of $4.00 per share, for aggregate gross proceeds of about $8.0 million before deducting underwriting discounts, commissions, and other offering expenses.

In addition, TGI has granted the underwriters a 45-day option to purchase up to an additional 300,000 shares of common stock at the public offering price per share, less the underwriting discounts and commissions, to cover over-allotments, if any.

The shares are expected to begin trading on the Nasdaq Capital Market on August 11, 2022, under the ticker symbol “TGL” and the offering is expected to close on or about August 15, 2022.

The company plans to use the net proceeds from the offering primarily to increase its capitalization and financial flexibility, in addition to working capital and general corporate purposes.

Deutsche Telekom Q2 Profit Down, Adj. EBITDA AL Rises; Lifts FY22 Outlook – Quick Facts

German telecom major Deutsche Telekom AG (DTEGY.PK) reported Thursday that its second-quarter net profit fell 22.3 percent to 1.46 billion euros from 1.88 billion euros a year ago.

Earnings per share were 0.29 euro, down 27.5 percent from 0.40 euro a year ago.

Adjusted net profit grew 15.7 percent to 2.45 billion euros from 2.11 billion euros last year. Adjusted earnings per share were 0.49 euro, compared to prior year’s 0.45 euro.

Adjusted EBITDA AL went up 5.0 percent from last year to 9.9 billion euros.

Net revenue grew 5.9 percent to 28.17 billion euros in the second quarter of 2022 from last year’s 26.59 billion euros.

Further, the company again raised its fiscal 2022 outlook citing the sound business performance.

The company now expects adjusted EBITDA AL for the year of 2022 around 37 billion euros, higher than previously expected more than 36.6 billion euros.

Further, Deutsche Telekom expects the free cash flow AL to come in at the recently raised guidance of over 10 billion euros, upping the guidance for business outside of the United States to 3.8 billion euros from previously expected 3.7 billion euros.

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Petrofac Loss Reduces In H1 Despite A Drop In Revenues

Petrofac Limited (PFC) that designs, builds, manages, and maintains infrastructure for the energy industries on Thursday reported narrower loss for the first half, despite a drop in revenues.

The results of the six months were a loss of 14 million as compared to a loss of 89 million in the prior period.

Excluding items, the six months resulted in a loss of $35 million as compared to a profit of 41 million in the year-ago period.

EBIT declined to $2 million, from $49 million in the corresponding period of the previous half year.

Revenue for the six months ended June was $1.23 billion as compared to $1.60 billion in the prior period.

Shares of Petrofac Limited closed Wednesday’s trading at 115.30 pence, down 1.60 pence or 1.37 percent from the previous close.

Coca-Cola HBC HY Profit Drops

Coca-Cola HBC AG (CCH), a Consumer Packaged Goods business and bottling partner of Coca-Cola Co. (KO), reported that its net profit after tax attributable to owners of the parent for the six months ended 1 July 2022 dropped to 152.9 million euros or 0.418 euros per basic share from last year’s 233.1 million euros or 0.639 euros per basic share, mainly due to impairment charges relating to operations in Russia.

Comparable net profit grew by 34.5% compared to the prior-year period due to higher operating profitability. Comparable basic earnings per share were 0.865 euros compared to 0.646 euros last year.

Net sales revenue for the period was 4.21 billion euros up 29.6% from the prior year, driven by the consolidation of Egypt, as well as pricing initiatives, volume growth and mix improvements, supported by favourable foreign currency movements. On an organic basis, net sales revenue grew by 19.4% during the first half of 2022, compared to the prior-year period.

Volume for the period was 1.33 billion unit cases up 18.1% from the prior year.

The company reinstated guidance for 2022 and expects to generate comparable EBIT in the range of 740 million euros -820 million euros.

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Derwent London H1 Pretax Profit Rises

Derwent London plc (DLN.L) reported first half IFRS profit before tax of 137.1 million pounds, up 13.2% from prior year. Earnings per share was 120.35 pence compared to 106.94 pence. EPRA earnings per share was 53.01 pence compared to 53.91 pence, last year. The Group noted that the EPRA earnings would have shown a small increase after adjusting for the surrender premiums.

First half net rental income was 93.9 million pounds, up 4.2% from last year. Gross property and other income increased to 122.3 million pounds from 120.4 million pounds.

The Board proposed a 4.3% increase in the interim dividend, taking it to 24.0 pence per share. It will be paid as a PID on 14 October 2022 to shareholders on the register as at 9 September 2022.

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M&G Plc H1 Adj. Operating Profit Before Tax Declines – Quick Facts

M&G plc (MNG.L) reported that its first half adjusted operating profit before tax decreased to 182 million pounds from 327 million pounds impacted by current market conditions. IFRS loss before tax attributable to equity holders was 1.32 billion pounds compared to a loss of 304 million pounds, prior year. Loss per share was 41.4 pence compared to a loss of 9.8 pence. The Group noted that IFRS result was impacted by short-term fluctuation losses in the fair value of the surplus assets in its annuity portfolio and derivatives used to hedge the Solvency II balance sheet caused by increasing yields.

Gross premiums earned increased to 3.10 billion pounds from 2.39 billion pounds, previous year.

Operating capital generation was 433 million pounds, up 40% from last year, towards the achievement of new operating capital generation target of 2.5 billion pounds by the end of 2024.

The Board has declared an interim ordinary dividend of 6.2 pence per share, payable on 29 September 2022.

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