McBride FY Pretax Profit From Cont. Ops. Declines; Underlying Revenue Up 2.7%

McBride plc (MCB.L) reported profit before tax from continuing operations of 22.0 million pounds for the year ended 30 June 2019 compared to 26.5 million pounds, last year. Earnings per share from continuing operations declined to 6.5 pence from 10.4 pence. Adjusted profit before tax from continuing operations was 24.5 million pounds compared to 33.2 million pounds. On an adjusted basis, earnings per share from continuing operations declined to 9.7 pence from 12.7 pence.

For the fiscal year period, revenue from continuing operations improved 4.6 percent to 721.3 million pounds. Underlying revenues at constant currency was 2.7% higher, or up 3.7% excluding Aerosols.

The Board recommended a final payment of 1.8 pence to shareholders giving a total payment of 3.3 pence for the year.

How to save a million dollars on a $50,000 salary, broken down by age

If you are making $50,000 a year, the thought of racking up $1 million for retirement can seem daunting. Yet with a little dedication and a lot of time, you can get there.

As a rule of thumb, most financial advisors suggest you save 10% to 15% of your annual salary. Personal finance website Nerdwallet crunched the numbers, and we can tell you exactly how much of your $50,000 you'll need to tuck away to get there.

Just a few things to remember: these numbers assume you have no money in your retirement plan, that you will get a conservative 6% return on your investments and that you will retire at age 65.

The math also does not account for potential pay increases, employer matches, inflation, or any curveballs life may throw at you. So plan accordingly.

Now let's dive into the figures. Watch this video to find out how to make it happen.

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Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

Genus FY19 Pre-tax Profit Climbs, Lifts Dividend; Sees FY20 In Line With View

Genus plc (GNS.L), an animal genetics company, reported Thursday that its fiscal 2019 profit before tax climbed 27 percent to 9.9 million pounds from last year’s 7.8 million pounds.

Profit after tax, meanwhile, plunged 84 percent to 6.7 million pounds, and basic earnings per share dropped 82 percent to 12.4 pence, reflecting significant prior year non-cash deferred tax credits relating to biological asset value arising from the US tax reforms.

Adjusted profit before tax was 61 million pounds, compared to 58.5 million pounds last year. Adjusted basic earnings per share were 73.2 pence, compared to 75.9 pence a year ago.

Revenue increased 4 percent to 488.5 million pounds from last year’s 470.3 million pounds. Revenues grew 3 percent at constant currency rates.

Genus said it achieved continued strategic progress and delivered good operational and financial performance, despite the challenging environment in China caused by the rapid spread of African Swine Fever or ASF.

Further, the company said its Board is recommending a final dividend of 18.8p per share, to give a total dividend of 27.7p per share, up 7 percent.

Looking ahead, Stephen Wilson, Chief Executive designate said, “We expect to make further strategic and financial progress in FY20, in line with our expectations.”

CYBG shares plunge after saying PPI costs may rise up to £450 million

Shares of CYBG CYBG, -19.08%, the bank holding company for Clydesdale Bank, Yorkshire Bank and Virgin Money UK, plunged nearly 20% after it increased its provisions for legacy PPI costs by between £300 million and £450 million ($550 million). CYBG reported an "unprecedented volume" of information requests in advance of the PPI complaint deadline on Aug. 29. U.K. banks have had to compensate people who bought often-worthless insurance.

Goldman Sachs CFO says Germany in "early days of a slowdown"- CNBC

Sept 5 (Reuters) – Goldman Sachs Chief Financial Officer Stephen Scherr said on Thursday that the Germany economy is in the “early days of a slowdown”.

“We are in the early days of a slowdown. I think that, you know, many of us and many economists can point to particular issues, whether it’s the automotive sector or the China trade issue that weigh on the German economy”, Scherr told CNBC cnb.cx/2HJYEWH in an interview held in Frankfurt. (Reporting by Kanishka Singh in Bengaluru; Editing by Alison Williams)

Commerzbank’s CFO won’t renew contract

Commerzbank AG (CBK.XE) said Thursday that its chief financial officer won’t accept a potential contract renewal.

Stephan Engels will remain Commerzbank’s CFO until the end of his contract in April 2020 but will decline a potential offer to extend it, the German bank said.

Ari Melber Points Out Mitch McConnell’s Double Standards On Nicknames

Senate Majority Leader Mitch McConnell (R-Ky.) may still be seething about his new “Moscow Mitch” nickname.

But he isn’t so critical about his other monikers, as MSNBC’s Ari Melber pointed out on Wednesday’s broadcast of “The Beat.” 

Melber noted how McConnell has previously agreed with House Speaker Nancy Pelosi’s (D-Calif.) claim that he was the “Grim Reaper” of the Senate, fundraised off the unfounded “Cocaine Mitch” insult bestowed upon him by a political rival and even embraced the epithet of “Darth Vader.”

Check out the clip here:

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