By Samuel Indyk
UK CPI fell back to 2.0% in July versus expectations of 2.3%. Inflation fell back across a broad range of goods and services, including clothing, according to the ONS. However, this was offset by a sharp rise in second hand cars.
Persimmon (LON:PSN) – H1 new home completions increase to 7,406 from 4,900 in 2020. Total revenue £1.84 billion. Forward sales of £2.23 billion, up around 9% on 2019 trading year. Anticipate delivering circa 10% growth in sales completions this year.
AJ Bell (LON:AJBA) – Appoints Michael Summersgill to newly created role of Deputy Chief Executive Officer. Roger Stott has been appointed to the newly created role of Chief Operating Officer
Hochschild Mining (LON:HOCM) – H1 revenue up 70% to $394.8 million. On track to deliver overall 2021 production target of 360,000-372,000 gold equivalent ounces or 31-32 million silver equivalent ounces.
Balfour Beatty (LON:BALF) – H1 underlying profit from operations at £60 million (previous loss of £14 million). Reiterates 2021 PFO outlook for earnings based business to be in line with 2019. Interim dividend increased 43% on 2019 level to 3.0 pence.
Network International (LON:NETW) – H1 revenue grew 16.5% to $156.4 million. Expected EBITDA and profit outturn for the full year unchanged. Expects lower capex during the year.
Rotork (LON:ROR) – Commences share buyback programme to repurchase up to £50 million of shares.
Old Mutual (LON:OMU) – H1 results from operations expected to increase 37%-47% from 2020 levels.
Meggitt (LON:MGGT) – Transdigm (NYSE:TDG) CEO Kevin Stein said Transdigm was interested in buying “good solid assets in the aerospace world.” Previously, the company had made an unsolicited bid for Meggitt.
UK market update – UK inflation slows, Persimmon forward sales rise
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