UK pre-market stocks update – Shell, Vodafone, Imperial Brands, Diageo, Stagecoach

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© Reuters.

By Samuel Indyk

Investing.com – At 07:43GMT, FTSE 100 futures are trading flat at 7332.

In FX markets, GBP/USD is trading at 1.3449, EUR/GBP is trading at 0.8455. The US Dollar Index is up 0.1%.

Today’s calendar highlights include Eurozone GDP, US Retail Sales, Import and Export Price Index, Industrial Production, Business Inventories.

Data

UK unemployment rate fell to 4.3% versus expectations of 4.4%. Employment increased 247K in 3-months to September. UK’s Office for National Statistics said there was no sign of an upturn in redundancies following the end of the furlough scheme.

Stocks

Royal Dutch Shell (LON:RDSa) – The Dutch government is to attempt to keep shell from moving its HQ to the UK by seeking to find a last-minute parliamentary majority to scrap a 15 per cent withholding tax that has long been a source of complaint for Shell.

Vodafone (LON:VOD) – H1 group service revenue growth of 2.8%. Adjusted EBITDA growth of 6.5% and margin expansion of 0.7 percentage points year-on-year to 33.6%. Group revenue increased by 5.0% to €22.5 billion. To pay interim of €0.045 per share. On track to achieve the upper half of original Adjusted EBITDA guidance range. Increasing expectation for adjusted free cash flow to at least €5.3 billion in FY22.

Imperial Brands (LON:IMB) – FY organic adjusted revenue up 1.4% on constant currency basis to £7.589 billion. Operating profit up 4.8% to £3.57 billion. Increased dividend to 139.08 pence per share. Tobacco price mix up 4.4% more than offset tobacco volume declines of 2.9%. Expect to deliver net revenue growth at a similar rate to FY21 in FY22, while adjusted operating profit is expected to grow slightly slower than net revenue, reflecting the step up in investment in line with the five-year strategic plan.

Diageo (LON:DGE) – Announces new medium-term guidance expecting organic net sales growth in range of 5%-7% and organic operating profit growth in a range of 6%-9% for fiscal 23 to fiscal 25. Expecting strong organic net sales growth of at least 16% in the first half of fiscal 22 and organic operating profit growth ahead of organic net sales growth.

Stagecoach (LON:SGC)/National Express (LON:NEX) – Reciprocal due diligence is now at an advanced stage and constructive discussions between Stagecoach and National Express are ongoing. Deadline for a decision has been extended to 14th December.

Premier Foods (LON:PFD) – H1 branded revenue up 11.4%. Trading profit 13.1% ahead of same period in 2019. Firmly on track to deliver full year profit expectations.

Restaurant Group PLC (LON:RTN) – Like-for-like sales have outperformed the market since 15th September. Management expectations for the Group’s FY21 Adjusted EBITDA increased to a range of £73-£79 million.

Land Securities (LON:LAND) – H1 EPRA earnings up 56.5% to £180 million. Gross rental income down 3.8% to £282 million. Dividend in the period of 15.5 pence per share. Also announced a new £135 million net zero transition investment plan.

Bridgepoint Group (LON:BPTB) – Total assets under management increased 58% to €29.2 billion. €1.1 billion invested in the third quarter of 2021, including into five companies headquartered in Denmark, the Netherlands, Sweden and the UK. Remains confident in its financial outlook for 2021 and 2022 and financial performance guidance remains unchanged.

Ferrexpo (LON:FXPO) – Board approves shareholder returns policy which is to target a payout of 30% of free cash flow, forming the basis of the Group’s dividend. The Board will continue to evaluate additional shareholder returns, in the form of special dividends, at times of strong financial and operational performance of the Group.

Intermediate Capital Group (LON:ICP) – H1 third party AUM increased 28% to $65.3 billion. Fund Management Company profit before tax increased 35% to £120.9 million. Declared interim dividend of 18.7p, in line with policy of paying a third of prior full year dividend.

Homeserve (LON:HSV) – H1 revenue up 20% on constant currency basis to £610.5 million. Adjusted EBITDA up 13% to £88.8 million. Ordinary dividend per share increased 10% to 6.8 pence. Ambitions for the current financial year are unchanged.

Ninety One (LON:N91) – H1 net inflows were £3.9 billion. Closing assets under management increased by 7% to £140 billion. Interim dividend increased 17% to 6.9 pence per share.

Domino’s Pizza Group (LON:DOM) – Appointed David Surdeau as Interim Chief Financial Officer with effect from 17 November 2021.

Countryside Properties (LON:CSPC) – Appointed Tim Lawlor, who will join the Board as Chief Financial Officer on 28 March 2022.

Genuit Group  (LON:GENG) – Group revenue for four months ended 31st October was 31.1% higher than equivalent period in 2019 at £207.6 million. The Board expects profit to be in the range of analyst expectations.

Capital & Counties Properties (LON:CAPCC) – Has introduced ten new brands to Covent Garden, including Uniqlo, Rails, and Tag Heuer.

Vietnam Enterprise Investments (LON:VEILV) – NAV increased 6.5% in October . Year-to-date NAV increased 47.1%.

Yew Grove REIT (LON:YEW) – To be taken over by Slate Office REIT for €1.017 per share, implying total enterprise value of €177.4 million.

UK pre-market stocks update – Shell, Vodafone, Imperial Brands, Diageo, Stagecoach

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