Dunelm Group Sees FY22 Pretax Profit Slightly Ahead Of Analyst Consensus

Dunelm Group plc (DNLM.L) reported fiscal 2022 sales of 1.55 billion pounds, up 16% from prior year. The Group expects that profit before tax for the 52-week period will be slightly ahead of analyst consensus of 207 million pounds. Gross margin rate for the fiscal year was 51.2%, down 40bps from fiscal 2021, primarily due to high customer participation in the June 2022 Summer Sale event.

Fourth quarter sales were 358 million pounds, 6% lower than a year ago, and slightly ahead of analyst expectations. The Group noted that the strong sales in the comparative period were driven by pent-up demand after the re-opening of stores in April 2021.

Dunelm also announced the appointment of Alison Brittain as an Independent Non-Executive Director and Chair Designate. Alison will join the Board on 7 September 2022.

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Close Brothers Says Solid Performance For 11 Months

Close Brothers Group Plc (CBG.L), a British merchant banking group, said in a pre-closing update on Thursday that it has recorded a strong performance for the first 11 months of the fiscal.

For the 11 month period to June 30, the banking division witnessed loan book growth and an improved margin, although Close Brothers Asset Management and Winterflood were hurt by market movements.

In banking, the loan book increased by 5 percent to 8.9 billion pounds from 8.4 billion pounds reported on July 31 2021.

Reflecting lower cost of funds, the annualized year-to-date net interest margin moved up to 7.8 percent, from last year’s 7.7 percent.

The UK-based lender’s Common Equity Tier 1 ratio was 14.8 percent as of June 30.

Adrian Sainsbury, CEO of Close Brothers, said: “… While our market-facing businesses were negatively impacted by falling markets, we continued to see healthy net inflows in CBAM and remain well placed to navigate changes in the market environment at Winterflood.”

Pre-market Movers: ARQQ, RAD, TBPH, ULCC, EGY…

The following are some of the stocks making big moves in Thursday’s pre-market trading (as of 06.45 A.M. ET).

In the Green

Arqit Quantum Inc. (ARQQ) is up over 28% at $7.68
Theravance Biopharma, Inc. (TBPH) is up over 17% at $10.10
Frontier Group Holdings, Inc. (ULCC) is up over 16% at $12.94
Sypris Solutions, Inc. (SYPR) is up over 11% at $2.45
Grove Collaborative Holdings, Inc. (GROV) is up over 10% at $5.98
Liberty All-Star Equity Fund (USA) is up over 6% at $6.66
G1 Therapeutics, Inc. (GTHX) is up over 5% at $7.50
Scorpio Tankers Inc. (STNG) is up over 5% at $34.95

In the Red

Rite Aid Corporation (RAD) is down over 24% at $5.03
VAALCO Energy, Inc. (EGY) is down over 14% at $5.32
Telefonaktiebolaget LM Ericsson (publ) (ERIC) is down over 8% at $6.82
TDH Holdings, Inc. (PETZ) is down over 7% at $2.70
Azenta, Inc. (AZTA) is down over 6% at $69.55
Intelligent Living Application Group Inc. (ILAG) is down over 6% at $5.73
TherapeuticsMD, Inc. (TXMD) is down over 6% at $5.01

Thales Group H1 Profit Climbs

Thales Group (THLEF.PK), a French maker of electrical systems for industries, reported a rise in earnings for the first half, reflecting an increase in sales and order intakes.

For the six-month period, the Paris-headquartered firm reported a consolidated net income of 566 million euros, compared with 432 million euros of previous year.

Adjusted income was at 726 million euros or 3.41 euros per share, higher than 591 million euros or 2.78 euros per share, year-over-year.

EBIT also moved up to 891 million euros from 722 million euros posted for the first half of 2021.

Thales Group’s order intake jumped to 11.208 billion euros from 7.665 billion euros of corresponding period of previous fiscal.

The French company generated sales of 8.256 billion euros, versus 7.669 billion euros, on year-on-year basis.

Looking ahead, for the fiscal 2022, the company now expects its organic sales growth to be in the range of 3.5 percent – 5.5 percent, corresponding to sales in the range of 17.1 billion euros to 17.5 billion euros.

Earlier, it had forecast 16.6 billion euros – 17.2 billion euros, corresponding 2 to 6 percent organic growth.

For the full year, the Group still projects its EBIT margin of 10.8 percent to 11.1 percent.

Patrice Caine, CEO, said: “…Our roadmap for the coming months is clear: accelerate recruitment, strengthen the resilience of our supply chains and manage the consequences of inflation while continuing to implement all our strategic initiatives.”

Frasers Posts Adj. Pretax Profit In FY22

Frasers Group Plc (FRAS.L ZVX.F) reported fiscal year adjusted profit before tax of 344.8 million pounds compared to a loss of 39.9 million pounds, prior year. Excluding acquisitions and on a currency neutral basis, adjusted profit before tax increased by 394.0 million pounds. The Group noted that its trading update excludes the SRL trade and assets acquired during the year and does not include the presentation of Bob’s Stores and Eastern Mountain Sports as a discontinued operation.

Profit before tax was 366.1 million pounds for the 52 weeks ended 24 April 2022 excl. Studio Retail Limited, compared to 8.5 million pounds, prior year.

Revenue excl. Studio Retail Limited was 4.75 billion pounds compared to 3.62 billion pounds, previous year. UK Sports retail revenue increased by 31.2%, for the period. Premium Lifestyle revenue increased by 43.6%.

The Group expects to achieve adjusted profit before tax of between 450 million pounds and 500 million pounds for the next financial year.

Mullen Group Ltd. Q2 Profit Increases, beats estimates

Mullen Group Ltd. (MTL.TO) announced a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company’s bottom line came in at C$42.7 million, or C$0.43 per share. This compares with C$21.7 million, or C$0.23 per share, in last year’s second quarter.

Excluding items, Mullen Group Ltd. reported adjusted earnings of C$44.1 million or C$0.47 per share for the period.

Analysts on average had expected the company to earn C$0.23 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 66.9% to C$521.5 million from C$312.5 million last year.

Mullen Group Ltd. earnings at a glance (GAAP) :

-Earnings (Q2): C$42.7 Mln. vs. C$21.7 Mln. last year.
-EPS (Q2): C$0.43 vs. C$0.23 last year.
-Analyst Estimate: C$0.23
-Revenue (Q2): C$521.5 Mln vs. C$312.5 Mln last year.