Hammerson Plc H1 Adj. Profit Down 10.5% – Quick Facts

Hammerson plc (HMSO.L) reported a first-half loss before tax of 319.2 million pounds compared to profit of 55.8 million pounds, prior year. Loss per share was 41.8 pence compared to profit of 7.0 pence. During the first half of 2019, the Group’s portfolio suffered a total net revaluation deficit of 423 million pounds. Adjusted profit declined 10.5% to 107.4 million pounds. Adjusted EPS was 14.0 pence, down 7.3% impacted by the on-going disposal programme.

First-half revenue was at 124.8 million pounds compared to 152.5 million pounds, prior year. Net rental income declined 12.3% to 156.6 million pounds.

The Directors have declared an interim dividend of 11.1 pence per share, flat year-on-year. The interim dividend is payable on 7 October 2019 to shareholders on the register at the close of business on 30 August 2019.

Separately, Hammerson plc also announced the sale of a 75% stake in Italie Deux, and the forward sale of 75% of the Italik extension for a total of 423 million pounds. The deal takes Hammerson’s total disposals in 2019 to 456 million pounds, and over 90% of its 500 million pounds target for the year.

Hitachi Q1 Net Profit Rises, Revenues Down – Quick Facts

Japan’s Hitachi Ltd. (HTHIF.PK,HTHIY.PK) reported Monday that its first-quarter net income attributable to stockholders increased 14 percent to 120.3 billion Japanese yen or $1.11 billion from last year’s 105.2 billion yen.

Earnings per share were 124.42 yen or $1.15, up from 108.89 yen last year.

EBIT grew 1 percent to 182.5 billion yen, while adjusted operating income declined 16 percent to 124.3 billion yen.

Revenues for the quarter declined 6 percent to 2.03 trillion yen or $18.82 billion from last year’s 2.17 trillion yen.

In Japan, Hitachi shares were trading at 3,830 yen, down 2.59 percent.

Treasury yields move lower as traders look ahead to a Fed meeting

• Meanwhile, Treasury Secretary Steven Mnuchin, and U.S. Trade Representative Robert Lighthizer travel to Shanghai, China to resume trade negotiations.
• On the data front, Dallas Fed manufacturing figures for July will be released at around 10:30 a.m. ET.

U.S. government debt prices were higher on Monday morning as traders wait to hear from the Federal Reserve later this week.

At around 3:52 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at 2.0633% while the yield on the 30-year Treasury bond fell to 2.5812%.

Traders are bracing for a potential cut in interest rates for the first time in more than a decade. The U.S. Federal Reserve meets Tuesday and will announce its latest rate decision on Wednesday.

U.S. Markets Overview: Treasurys chart

Meanwhile, Treasury Secretary Steven Mnuchin, and U.S. Trade Representative Robert Lighthizer travel to Shanghai, China to resume trade negotiations.

On the data front, Dallas Fed manufacturing figures for July will be released at around 10:30 a.m. ET.

The U.S. Treasury is set to auction $72 billion in 13-week and 26-week bills.

Are the Tories about to enjoy a Boris bounce?

At the end of a seminal week in politics, we discuss whether Boris Johnson’s appointment as prime minister will lead to a boost in Conservative support – as even columnist Yasmin Alibhai-Brown gets swept up in the excitement.

:: Listen to All Out Politics on Apple Podcasts, Google Podcasts, Spotify, Spreaker

She joins Adam Boulton and his other guests Henry Newton from the Open Europe think tank, Sky political correspondent Rob Powell and the head of Sky Data Harry Carr.

Keller HY Profit Drops

Geotechnical specialist contractor Keller Group plc (KLR.L) reported that its profit attributable to equity holders of the parent for the six months ended 30 June 2019 dropped to 3.5 million pounds from 24.4 million pounds in the prior year. Statutory earnings per share decreased to 4.8 pence from 33.7 pence in the prior year.

Profit before taxation was 21.7 million pounds, down from 35.9 million pounds last year.

Underlying earnings per share decreased by 30% to 28.5 pence on an IAS 17 basis from 40.7 pence last year.

Revenue at 1.09 billion pounds was slightly ahead versus last year’s 1.08 billion pounds, driven by growth in North America and EMEA, offset by a decline in APAC.

The Board’s full year expectations are unchanged with a stronger second half anticipated. The company expects full year revenue to be broadly flat versus 2018 and an improvement in margin will drive a growth in profit.

The Board has declared an interim dividend of 12.6 pence per share, an increase of 5%.

Britain warns Iran: release ship to "come out of the dark"

LONDON, July 29 (Reuters) – Britain on Monday warned Iran that if it wants to “come of the dark” then it must follow international rules and release a British-flagged vessel seized by the Islamic Republic in the Gulf.

“If the Iranians want to come of the dark and be accepted as a responsible member of the intentional community they need to adhere to rules-based system of the international community,” Foreign Secretary Dominic Raab told Sky News.

“You cannot go about detaining unlawfully foreign vessels.” (Reporting by Andrew MacAskill; editing by Guy Faulconbridge)

Heineken shares slide after first-half profit fall

Shares in Heineken NV (HEIA.AE) trade lower after the company posted a fall in its first-half net profit but backed its full-year guidance, which analysts say will require a strong second half.

The Amsterdam-based brewer said net profit for the period was 936 million euros ($1.04 billion) compared with EUR950 million the year earlier.

At 0708 GMT, shares in Heineken traded 6.2% lower at EUR96.66

Net revenue grew 5.6% on an organic basis to EUR11.45 billion.

Consolidated beer volume rose 3.1% organically and the Heineken brand volume rose 6.9%.

Citi analysts said Heineken’s first-half results are weak and the company will need a "significant 2H recovery" to meet its reaffirmed guidance.

"With a very tough 3Q comparison base to come, this appears a tall order."

Jefferies analysts, however, said the soft first-half results offer a buying opportunity given Heineken’s attractive long-term growth story.