By Samuel Indyk
InterContinental Hotels (LON:IHG) – Significant improvement in demand in H1. Total gross revenue down 42% on 2019 level. 2021 interim dividend will not be paid. Confident in strength of IHG’s future prospects.
M&G (LON:MNG) – H1 adjusted operating profit before tax up 6% to £327 million. Assets under management increased to £370.0 billion. Interim dividend of 6.1 pence per share.
Flutter Entertainment (LON:FLTRF) – Adjusted revenue up 30% to £3.053 billion driven by 40% increase in average monthly players. Dividend policy to be kept under review. Group says H2 has started well and sees group ex-US adjusted EBITDA of £1.27-1.37 billion, assuming real estate remains open. US net revenue expected at £1.285-1.425 billion assuming launches in Arizona and Connecticut in H2.
Abrdn (LON:ABDN) – H1 fee based revenue up 7%, operating profit up 52%. To pay interim dividend of 7.3 pence per share, in line with policy. Outlook remains unchanged from that given in March.
Derwent London (LON:DLN) – Acquires two properties in London’s West End for £214.6 million. Also signs MOU with Lazari Investments for 50:50 joint venture to acquire 3 sites in Baker Street, London. Total return of 2.7%, down 0.1% in H1 2020. Interim dividend raised 4.5% to 23.0 pence.
Gamesys (LON:GYS) – H1 revenue up 17% to £398.8 million. Adjusted EBITDA up 16%. Board declares interim dividend of 15 pence per share. Combination of Gamesys and Bally’s expected to become effective in Q4.
Man Group (LON:EMG) – Announces new $100 million share buyback programme.
IWG (LON:IWG) – Strong occupancy recovery in Q2 with unprecedented demand for hybrid working and record new client wins. Open centre revenue increased Q1 to Q2 by 3.4%. US showing strongest recovery.
Watches Of Switzerland (LON:WOSG) – Q1 roup revenue +101.9% in constant currency to £297.5 million. Strong UK and US performance supports confidence in outlook for the remainder of the full year and underpins existing guidance.
Bellway (LON:BWY) – FY revenue up 41% to over £3.1 billion. Number of housing completions up 34.8%. Group has record forward sales position with an order book comprising 7,082 homes.
Meggitt (LON:MGGT) – Downgraded by HSBC to hold from buy.
UK market update – Flutter flies as users jump
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