Sunday, 9 May 2021

UK Manufacturing Sector Expands At Record Pace

ANZ HY Profit Up 90%

Australia And New Zealand Banking Group Ltd.(ANZ.AX,ANZBY.PK,ANZ) reported that its profit after tax for the half Year ended 31 March 2021 rose to A$2.94 billion or 98.4 cents per share, from A$1.55 billion or 51.5 cents per share in the prior year.

The latest-period included net credit provision release of A$491 million, compared to credit impairment charge of A$1.67 billion last year.

Cash profit for the period surged to A$2.98 billion from A$1.32 billion in the prior year.

But, net interest income declined to A$6.99 billion from A$7.22 billion in the previous year.

The Group announced a proposed fully franked 2021 Interim Dividend of 70 cents per share.

ANZ also announced that the Dividend Reinvestment Plan will continue to operate forthe Interim 2021 Dividend at no discount and that it plans to neutralise the impact of the ordinary shares allocated under the DRP.

Philippines April inflation at 4.5% yr/yr

MANILA, May 5 (Reuters) – Philippine inflation steadied to an annual rate of 4.5% in April, reflecting slower price increases in the heavily-weighted food and non-alcoholic beverage index, data showed on Wednesday.

April inflation was unchanged from March and below the median forecast of 4.7% in a Reuters poll and well within the central bank’s 4.2%-5.0% projected range for the month.

American Financial Turns To Profit In Q1; Lifts 2021 Core Operating EPS View

American Financial Group Inc. (AFG) reported 2021 first quarter net earnings attributable to shareholders of $419 million or $4.84 per share compared to a net loss of $301 million or $3.34 per share last year.

Core net operating earnings were $206 million or $2.38 per share for the 2021 first quarter, compared to $125 million or $1.36 per share in the 2020 first quarter.

Total revenues for the grew to $1.51 billion from $1.06 billion last year.

The company now core net operating earnings per share in 2021 to be in the range of $7.00 to $8.00, an increase from its previous range of $6.25 to $7.25 per share. Analysts polled by Thomson Reuters expects the company to report earnings of $6.80 per share for fiscal year 2021. Analysts’ estimates typically exclude special items.

Krispy Kreme submits plan for IPO

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Krispy Kreme has submitted plans, to once again, be a publically traded company.

The doughnut chain said on Tuesday it had confidentially filed with U.S. regulators for an initial public offering.

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An IPO would bring the chain back to the stock market five years after it was taken private.

The company first went public in 2000, but it had to file for Chapter 11 bankruptcy following financial restatements, accounting investigations and a drop in sales, according to Reuters.

JAB Holding Co. took Krispy Kreme private in a $1.35 billion deal in 2016.

KRISPY KREME’S TIMES SQUARE STORE WITH ‘GLAZED WATERFALL,’ ‘WORLD’S LARGEST HOT LIGHT’ GETS NEW OPENING DATE

The doughnut chain looks to strike while the iron is hot during a boom in U.S. capital markets, with companies raising $167 billion in 2020, according to Dealogic data.

Last year, the company opened a 4,500-square-foot location in New York's Times Square.

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As a part of a promotion earlier this year, the company gave away free glazed doughnuts to anyone who showed a valid COVID-19 vaccination card at a Krispy Kreme store in the United States.

Krispy Kreme opened its first store in North Carolina in 1937 and operates nearly 1,400 shops in 33 countries.

Siemens Energy Q2 Adj. EBITA Before Special Items Rises – Quick Facts

Siemens Energy AG (SMEGF.PK SMNEY.PK) reported second quarter net income to shareholders of 24 million euros compared to a loss of 103 million euros, prior year. Profit per share was 0.03 euros compared to a loss of 0.14 euros. Adjusted EBITA before special items increased to 288 million euros from 200 million euros.

Second quarter revenue moderately decreased by 4.4% to 6.5 billion euros. On a comparable basis, revenue was on prior-year’s level. Orders rose by 39.0% to 10.5 billion euros.

For fiscal 2021, the company confirmed the profitability outlook of 3% to 5% for adjusted EBITA margin before special items, while narrowed the range of expected revenue growth for Siemens Energy overall and both segments individually. The nominal revenue growth rate for Siemens Energy in fiscal 2021 is now projected to be in the range of 3% to 8% (previously 2% to 12%).

Deutsche Post DHL hikes outlook again on ecommerce boom

  • Deutsche Post DHL, one of the world's biggest logistics companies, lifted its operating profit forecast to more than 6.7 billion euros ($8.05 billion) in 2021, and more than 7 billion in 2023.
  • It previously forecast more than 5.6 billion for 2021.

German logistics company Deutsche Post raised its financial outlook again on Wednesday after more than tripling its operating earnings in the first quarter, predicting that ecommerce will keep booming and global trade will rebound.

Deutsche Post DHL, one of the world's biggest logistics companies, lifted its operating profit forecast to more than 6.7 billion euros ($8.05 billion) in 2021, and more than 7 billion in 2023. It previously forecast more than 5.6 billion for 2021.

First quarter operating profit jumped to 1.2 billion euros on revenues up an organic 26% to 18.9 billion.

UK Manufacturing Sector Expands At Record Pace

The UK manufacturing sector grew at the fastest pace on record in April underpinned by production and new orders, final data from IHS Markit showed on Tuesday.

The Chartered Institute of Procurement & Supply manufacturing Purchasing Managers’ Index rose to 60.9 in April from 58.9 in March and was above the flash estimate of 60.7.

Output increased for the eleventh straight month in April. The latest increase was attributed to a loosening of lockdown restrictions, improved demand and rising backlogs of work.

Total new orders rose for the third straight month, largely due to a further revival of domestic market conditions.

The degree of confidence among manufacturers was at its highest level in seven years. Optimism reflected expectations for less disruption related to COVID-19 and Brexit, economic recovery, improved client confidence and planned new product launches.

Supply-chain delays and input shortages led to another near-record lengthening of vendor lead times. Employment in the manufacturing sector rose for the fourth successive month, with the rate of job creation staying close to March’s seven-year high.

On the price front, the survey showed that average selling prices rose at the fastest pace since charges data were first collected in November 1999.

Although manufacturers have passed on higher input costs to customers, it is hoped that this inflationary backdrop will subside once supply and demand come back into line as covid-related logistic delays ease, Rob Dobson, a director at IHS Markit, said.

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