News 

Just Eat swings to profit, sees more growth in ’19

“Just Eat PLC (JE.LN) on Wednesday reported a swing to pretax profit in 2018 after seeing strong order growth of 28% during the year and forecast further growth in 2019” writes Oliver Griffin for marketwatch.com. The online food-delivery company made a pretax profit of 101.7 million pounds ($133.8 million) in the year ended Dec. 31, compared with a pretax loss of GBP76 million in the previous year.Orders during the year rose 28% to 221 million in 2018, the company said.Revenue for the year rose 43% to GBP779.5 million, Just Eat…

Read More
News 

Ashtead Group profit up, sticks to forecast

“The equipment-rental company said that for the three months ended Jan. 31, pretax profit was 240.9 million pounds ($318.1 million) compared with GBP194.3 million in 2017” writes Anthony O for marketwatch.com. Ashtead Group PLC (AHT.LN) on Tuesday said pretax profit rose in the third quarter of fiscal 2019 and that it expects full-year results to be in line with the board’s expectations.Chief Executive Geoff Drabble said the board expects capital expenditure at around GBP1.6 billion.”Looking forward to 2019-20, we anticipate a similar level of capital expenditure to this year as…

Read More
News 

Man Group says lower performance fees hits profit

“Man Group PLC (EMG.LN) said Friday that lower performance fees knocked its profit in 2018 as the hedge-fund manager faces an increase in redemptions in a volatile market” writes Adam Clark for marketwatch.com. Man Group made an adjusted pretax profit of $251 million, down from $384 million in 2017.Man Group’s statutory pretax profit rose slightly to $278 million as it benefited from lower negative adjustments. Source: marketwatch.com

Read More
News 

Aston Martin swings to loss as costs rise

“Aston Martin Lagonda Global Holdings PLC (AML.LN) on Thursday reported a swing to pretax loss in 2018 after booking a number of costs, mainly related to its IPO last year, and it backed full-year sales targets for 2019” writes Ian Walker for marketwatch.com. The company reiterated that it expects to sell between 7,100 and 7,300 cars in 2019 as Aston Martin opens new manufacturing facilities and introduces a new sport-utility vehicle.The company has targeted to sell between 9,600 and 9,800 cars in 2020. Source: marketwatch.com

Read More
Markets News 

RSA Insurance profit falls on London market losses

“RSA Insurance Group PLC (RSA.LN) said Thursday that underlying profit fell in 2018 after its London Market business was hit by large losses” writes Adam Clark for marketwatch.com. RSA said its underwriting profit fell 33% to GBP250 million, largely due to losses in the London business.The FTSE 100 insurer made an underlying pretax profit of 492 million pounds ($654 million), down from GBP620 million in 2017.On a statutory basis, pretax profit rose 7% to GBP480 million. Source: marketwatch.com

Read More
News 

Meggitt profit down despite higher sales, orders

“Meggitt PLC (MGGT.LN) said Tuesday that pretax profit fell 5.3% in 2018, as the company booked a noncash charge from currency hedges while posting higher revenue and orders” writes Adria Calatayud for marketwatch.com. The U.K. aerospace and defense-engineering group said it made a pretax profit of 216.1 million pounds ($282.6 million) compared with GBP228.3 million in 2017.Meggitt’s full-year revenue increased to GBP2.08 billion from GBP1.99 billion in 2017, it said.Analysts had forecast an underlying operating profit of GBP361 million, according to a consensus estimate compiled by the company. Source: marketwatch.com

Read More
News 

Go-Ahead profit tumbles, but lifts guidance

“Go-Ahead Group PLC (GOG.LN) Thursday reported a 44% drop in pretax profit for the first half of fiscal 2019 but raised its expectations for the full year” writes Adriano Marchese for marketwatch.com. The transport company reported a pretax profit of 44.2 million pounds ($57.7 million) in the six months ended Dec. 29, compared with GBP79.7 million a year before.The company blamed the decline on the shuttering of its London Midland franchise in the first half of fiscal 2018. Source: marketwatch.com

Read More
News 

BAE Systems profit up 14%; order backlog higher

“British weapons maker BAE Systems PLC (BA.LN) on Thursday reported a 14% rise in 2018 pretax profit and said it expects underlying earnings per share for 2019 to grow by a mid-single-digit percentage” writes Ian Walker for marketwatch.com. BAE made a pretax profit of 1.22 billion pounds ($1.59 billion) compared with GBP1.07 billion a year earlier on revenue that fell 2.3% to GBP16.82 billion.Underlying earnings per share–the company’s preferred metric, which strips out exceptional and other one-off items–rose to 42.9 pence a share from 42.1 pence a year earlier.The company’s…

Read More
News 

Lloyds Bank misses forecasts, plans buyback

“Lloyds Banking Group PLC’s (LLOY.LN) 2018 profit missed analyst expectations but the U.K. lender set out plans for a major share buyback and brought forward its cost-cutting targets” writes Adam Clark for marketwatch.com. The U.K.’s largest domestic bank said Wednesday that it made a pretax profit of 5.96 billion pounds ($7.73 billion), up from GBP5.28 billion in 2017. Source: marketwatch.com

Read More
GBP News 

BAM 2018 profit up, notes Brexit uncertainty

“Koninklijke BAM Groep NV (BAMNB.AE) said Wednesday that it met its 2018 guidance, citing a strong rise in adjusted profit” writes Adam Clark for marketwatch.com. The Dutch construction company made an adjusted pretax profit of 153.2 million euros ($173.4 million), compared with EUR24.9 million in 2017.BAM’s adjusted pretax profit margin improved to 2.1% from 0.4%.For 2019, BAM expects revenue of around EUR7 billion and aims to improve its adjusted pretax profit margin within its strategic range of 2% to 4%.Including restructuring, impairment and one-off charges, BAM made a net profit…

Read More