DOCSLIB.ORG

Morning Wrap

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Morning Wrap Morning Wrap Today ’s Newsflow Equity Research 07 Jul 2021 08:45 BST Upcoming Events Select headline to navigate to article J D Wetherspoon Trading better than our expectations Company Events with ND lower. FY22 sales in line with FY19 best estimate 07-Jul Vistry Group; Q221 Trading Update 08-Jul Grafton Group; Q221 Trading Update 888 Holdings Strong Q2 against tough comps leads to Persimmon; Q221 Trading Update Supermarket Income REIT; Q4 Ex div further upgrades 12-Jul Great Portland Estates; Ex Final Div 14-Jul Barratt Developments; Q421 Trading Update Rank Group Announces it has signed a new two year £25m RCF Redrow Expecting double digit upgrades to FY22 consensus Vistry Group HPI continues to “more than” offset CPI Great Portland Estates Pre-lettings progress at 70 Oxford Street UK Economic View Stamp duty pull-back takes steam out of housing market – Halifax HPI Economic Events Ireland 08-Jul CPI Jun21 United Kingdom 09-Jul Construction Output May21 GDP May21 Trade Balance May21 Industrial Production May21 Manufacturing Production May21 14-Jul CPI Jun21 PPI Jun21 Retail Price Index Jun21 ONS House Price May21 United States Europe This document is intended for the sole use of Goodbody Stockbrokers and its affiliates Goodbody Capital Markets Equity Research +353 1 6419221 Equity Sales +353 1 6670222 Bloomberg GDSE<GO> Goodbody Stockbrokers UC, trading as “Goodbody”, is regulated by the Central Bank of Ireland. In the UK, Goodbody is authorised and subject to limited regulation by the Financial Conduct Authority. Goodbody is a member of Euronext Dublin and the London Stock Exchange. Goodbody is a member of the FEXCO group of companies. For the attention of US clients of Goodbody Securities Inc, this third-party research report has been produced by our affiliate, Goodbody Stockbrokers Goodbody Morning Wrap J D Wetherspoon Trading better than our expectations with ND lower. FY22 sales in line with FY19 best estimate JDW this morning released a pre-close for H1 to date. During the initial reopening period, Recommendation: Hold between 12 April and 16 May (outdoor only), 500 pubs or 58% of the estate was open and Closing Price: £12.39 LFL bar and food sales were down 49% compared to 2019. Between 17 May and 4 July, LFL sales were -14.6% (-8.1% before the European Champs and -21% during the tournament). Paul Ruddy +353 1 641 6024 It notes that 850 of the 860 Wetherspoon pubs are now open. At first glance and assuming [email protected] some recovery post the conclusion of the European championships, this implies H2 revenue c.10% ahead of our current forecast. Net debt was £865m on 4th of July and is expected to be c.£833m at the end of this financial year (July), which compares favourably to our estimate of £900m. It highlights that EBITDA covenants have been waived up to July 2021 and have been replaced by minimum liquidity requirements of £75m. It expects liquidity to be c.£253m at the end of the financial year. It intends to enter discussions with lenders regarding waivers for the next financial year. The group has opened two new pubs in H2, and has a pipeline of 18 new pubs and 57 extensions. With regard to outlook, it continues to expect to make a loss for the current year and reiterates that its current best estimate for FY22 is that sales will be in line with FY19, on the basis that restrictions are ended as the government intends. We currently forecast FY22 sales broadly in line with FY19 levels so it is reassuring to hear this remains its best estimates. Net Debt forecasts are a better than our forecasts also which is helpful. JDW trades on just below 10x FY23 EV/EBITDA. We continue to value the company on 11x FY23 EBITDA and discount by a year which gives a price target of 1370p and are positive on the prospects for the group through the recovery phase. Home… This document is intended for the sole use of Goodbody Stockbrokers and its affiliates Page 2 07 Jul. 21 Goodbody Morning Wrap 888 Holdings Strong Q2 against tough comps leads to further upgrades 888 released a post-close trading update this morning. Group revenue increased +19% Recommendation: Buy (+11% cc) in Q2 to $256m, resulting in growth of 39% for H1. B2C revenue grew by 21% Closing Price: £4.13 (+11% cc) in Q2 with B2B -7% (-15% cc). On outlook, management continues to be Gavin Kelleher cautious around the second half of the year given the potential for greater than normal +353-1-641 0423 seasonality in the summer post-COVID-19, tough YoY comps in Q4, and the previously [email protected] announced impact of regulatory and compliance changes. The statement notes how average daily revenues in the UK are down 20% since May 17th (when leisure reopened) versus the YTD period prior to that. Notwithstanding managements cautious outlook, it expects adjusted EBITDA to be slightly ahead of 2020, from flat YoY previously. The Group will report H1 results on September 1st. Casino continues to be the largest vertical, and grew by 13% in Q2 (+41% in H1). Sport delivered very strong growth YoY, growing by 94%, albeit against a soft comparative period in Q220. Sport grew by 76% in H1. Poker and bingo revenue were both lower YoY in Q2, which should not come as a surprise given the tough YoY comps. B2B revenue declined by - 7% in Q2, again against a tough YoY comp. Overall, this is another positive update from 888, with its third upgrade of FY21 displaying further evidence of the strong momentum in the business. At first glance, we expect to update our FY21 revenue by 4% and EBITDA by 3% on the back of today’s update. This comes on the back of 14% and 3% upgrades already delivered to FY21 EBITDA this year. We accept managements caution into H2 given the YoY headwinds, but it still feels like the bias to numbers remains to the upside. M&A and US optionality continue to be key themes for the investment case. On the M&A side, WMH is a deal that we think makes a lot of strategic sense for the Group, while the recently announced SI deal increases its chances of success in the US. Home… This document is intended for the sole use of Goodbody Stockbrokers and its affiliates Page 3 07 Jul. 21 Goodbody Morning Wrap Rank Group Announces it has signed a new two year £25m RCF Rank has this morning announced that it has signed a new two year £25m Revolving Credit Recommendation: Buy Closing Price: £1.84 Facility (RCF) with Lloyd’s Bank. The new facility is subject to the same financial covenant waiver as its other bank facility agreements, including a quarterly minimum of £50m cash Gavin Kelleher and available facilities test. This RCF is in addition to the groups existing £55m RCF and the +353-1-641 0423 remaining £108.4m term loan. The facility provides the Group with additional liquidity and [email protected] the opportunity to accelerate investment in its transformation plan when it is confident that the Group is delivering sustainable positive cashflow. This is another incremental positive for Rank following last weeks trading update and confirmation of its £80m VAT refund claim. A key target for the Group since the onset of COVID has been maintaining sufficient liquidity. Given the positive early signs from its venues reopening and with lockdown restrictions significantly easing, the Group appears well placed from a liquidity perspective, particularly with the potential £80m VAT refund and now this RCF. We continue to like Rank as an attractive recovery play. Home… This document is intended for the sole use of Goodbody Stockbrokers and its affiliates Page 4 07 Jul. 21 Goodbody Morning Wrap Redrow Expecting double digit upgrades to FY22 consensus Redrow issued an unscheduled FY21 trading update this morning. Since issuing interim Recommendation: Buy results in early February the sales market has remained strong. Excluding PRS reservations, Closing Price: £6.29 reservations per outlet per week for 2021 were 0.70 (2019 was 0.63) and the revenue per outlet per week was £288k (2019 was £246k). This high sales rate was achieved despite the Dudley Shanley +353-1-641 9174 changes to Help to Buy which fell to 13% of reservations in H2 (2020 was 50%). At the end [email protected] of FY21 the orderbook stood at £1.43bn, in line with June 2020 but up from £1.3bn at the end of December 2020. Overall, homes turnover in the regional business was ahead of expectations and Redrow completed the final phase of a London PRS scheme ahead of schedule adding £43m to turnover in 2021. As a result, Group turnover is expected to be £1.94bn (£1.92bn forecast) on legal completions of 5,620 (5,722 forecast). Redrow expects an operating margin in excess of 15.5% (16% forecast) suggesting operating profits will at least be £300m versus our forecast of £307m and consensus of £284m. Looking ahead to FY22, the sales market remains robust. Despite the early completion of the London PRS scheme mentioned above, Redrow expects Group revenue to be above £2bn (£2bn forecast). It also expects the operating margin to improve to c.18% (17.5% forecast) suggesting operating profit will be c.£360m versus our forecast of £358m and consensus of £326m. Elsewhere in the statement management note that cash at the end of FY21 was £160m which is a little ahead of our £135m forecast.
Load more

Recommended publications
  • COVID-19 Proxy Governance Update
    COVID-19 Proxy Governance Update 2020 AGM mid-season review FROM EQUINITI 01 Looking back and planning ahead It is incredible to note that it has been over 12 weeks since the official announcement on 23 March of the UK Government’s Stay at Home Measures, and nearly seven months since the severity of the pandemic became apparent in China. Over the said period, PLC boards, company secretaries and investor relations officers have kept their corporate calendars going thanks to rapid adoption of modified regulatory guidelines and inventive modes of engagement with investors. With annual general meetings being an obvious highlight in the corporate calendar, we take stock of the progress made so far over the 2020 AGM season, as well as using what we learned to plan ahead. Now that we are over the first ‘hump’ with the busy period of May AGMs out of the way, we are readying for the second ‘peak’ of June and July AGMs, and then an ‘easing’ until the second ‘mini’ season in the early autumn. As such, in this update, we look at: • 2020 AGM season statistics…so far • Proxy adviser engagement and ISS recommendations review • High-level assumptions for Q3 and Q4 • Relevant updates from the regulators, industry bodies and proxy advisers • Communications in the COVID-19 world – special commentary by leading financial PR firm,Camarco • How has COVID-19 impacted activism – special commentary by international law firm,White & Case 02 2020 AGM Season Statistics…so far Scope of data To assess progress and forecast what is to come, we look at the key statistics for the UK AGM season 2020 thus far.
    [Show full text]
  • Parker Review
    Ethnic Diversity Enriching Business Leadership An update report from The Parker Review Sir John Parker The Parker Review Committee 5 February 2020 Principal Sponsor Members of the Steering Committee Chair: Sir John Parker GBE, FREng Co-Chair: David Tyler Contents Members: Dr Doyin Atewologun Sanjay Bhandari Helen Mahy CBE Foreword by Sir John Parker 2 Sir Kenneth Olisa OBE Foreword by the Secretary of State 6 Trevor Phillips OBE Message from EY 8 Tom Shropshire Vision and Mission Statement 10 Yvonne Thompson CBE Professor Susan Vinnicombe CBE Current Profile of FTSE 350 Boards 14 Matthew Percival FRC/Cranfield Research on Ethnic Diversity Reporting 36 Arun Batra OBE Parker Review Recommendations 58 Bilal Raja Kirstie Wright Company Success Stories 62 Closing Word from Sir Jon Thompson 65 Observers Biographies 66 Sanu de Lima, Itiola Durojaiye, Katie Leinweber Appendix — The Directors’ Resource Toolkit 72 Department for Business, Energy & Industrial Strategy Thanks to our contributors during the year and to this report Oliver Cover Alex Diggins Neil Golborne Orla Pettigrew Sonam Patel Zaheer Ahmad MBE Rachel Sadka Simon Feeke Key advisors and contributors to this report: Simon Manterfield Dr Manjari Prashar Dr Fatima Tresh Latika Shah ® At the heart of our success lies the performance 2. Recognising the changes and growing talent of our many great companies, many of them listed pool of ethnically diverse candidates in our in the FTSE 100 and FTSE 250. There is no doubt home and overseas markets which will influence that one reason we have been able to punch recruitment patterns for years to come above our weight as a medium-sized country is the talent and inventiveness of our business leaders Whilst we have made great strides in bringing and our skilled people.
    [Show full text]
  • Morning Wrap
    Morning Wrap Today ’s Newsflow Equity Research 11 Jul 2016 Upcoming Events Select headline to navigate to article Irish Building Materials Construction PMI strengthens Company Events further in June 11-Jul Lufthansa; June 2016 - Traffic Stats Taylor Wimpey; Q2 2016 Trading Update US Building Materials Employment growth remains 12-Jul Grafton Group; Q2 2016 Trading Update strong in highway construction segment 13-Jul J D Wetherspoon; Q4 2016 results 14-Jul Hays; Q4 2016 results CPL Resources Trading in-line, albeit with limited detail Norwegian Air Shuttle; Q2 2016 results 15-Jul DCC; Q1 2017 IMS Economic View Bond yields fall to record lows yet again 18-Jul Givaudan; Q2 2016 results Ladbrokes Press reports that Betfred is leading the race for Ladbrokes/Coral stores Greene King Media reports that 90 pubs put up for sale Gaming & Leisure Euro 2016 results appear to have been favourable for bookmakers Economic Events Ireland United Kingdom United States Europe Goodbody Capital Markets Equity Research +353 1 6419221 Equity Sales +353 1 6670222 Bloomberg GDSE<GO> Goodbody Stockbrokers (trading as Goodbody) is regulated by the Central Bank of Ireland. For the attention of US clients of Goodbody Securities Inc, this third-party research report has been produced by our affiliate Goodbody Stockbrokers. Please see the end of this report for analyst certifications and other important disclosures. Goodbody Morning Wrap Irish Building Materials Construction PMI strengthens further in June The Construction PMI came in at 59.7 in June, which is up from the 55.9 in May and Robert Eason +353-1-641 9271 compares to the recent February peak of 68.8.
    [Show full text]
  • 2016 Annual Report
    bovishomesgroup.co.uk Bovis Homes Group PLC Annual report and accounts Bovis Homes Group PLC, The Manor House, North Ash Road, New Ash Green, Longfield, Kent DA3 8HQ. www.bovishomesgroup.co.uk 2016 Designed and produced by the Bovis Homes Graphic Design Department. Printed by Tewkesbury Printing Company Limited accredited with ISO 14001 Environmental Certification. Printed using bio inks formulated from sustainable raw materials. Printed on Cocoon 50:50 silk a recycled paper containing 50% recycled waste and 50% virgin fibre and manufactured at a mill certified with ISO 14001 environmental management standard. The pulp used in this product is bleached using an Elemental Chlorine Free process (ECF). When you have finished with this pack please recycle it. Annual report and accounts 2016 Bovis Homes Group PLC When you have finished with this pack please recycle it. Annual report and accounts Strategic report Business overview 4 2 2016 highlights Chairman’s statement A review of our business 4 Chairman’s statement model, strategy and Ian Tyler discusses how the 6 What we do summary financial and Group is well placed for 7 Reasons to invest operational performance the future 10 Housing market overview Our business and strategy 12 Interim Chief Executive’s report 18 Our business model 20 Strategic priorities 26 Principal risks and uncertainties 30 Risk management 12 Corporate social responsibility Interim Chief Executive’s report 32 Our CSR priorities Earl Sibley provides an overview of the year and Our financial performance discusses the
    [Show full text]
  • Morningstar Report
    Report as of 23 Sep 2021 FTF Franklin UK Mid Cap Fund W (acc) Morningstar® Category Morningstar® Benchmark Fund Benchmark Morningstar Rating™ UK Mid-Cap Equity FTSE 250 Ex Investment Trust TR GBP FTSE 250 Ex Investment Trust TR GBP QQQ Used throughout report Investment Objective Performance The Fund aims to grow in value by more than the FTSE 250 192 (ex-Investment Trusts) Index, from a combination of 169 income and investment growth over a three to five-year 146 period after all fees and costs are deducted. The Fund will 123 invests at least two thirds (but typically significantly more) 100 in the shares of medium-sized companies that are 77 constituents of the FTSE 250 (ex-Investment Trusts) Index and that are incorporated/domiciled in the UK or which 2016 2017 2018 2019 2020 2021-08 have significant business operations in the UK. This will -0.23 26.43 -13.46 42.30 -14.19 23.11 Fund typically be around 30–50 companies. 5.08 18.24 -15.15 30.79 -8.48 22.42 Benchmark 5.27 19.55 -14.94 30.83 -2.93 19.16 Category Risk Measures Trailing Returns % Fund Bmark Cat Quarterly Returns % Q1 Q2 Q3 Q4 3Y Alpha 1.27 3Y Sharpe Ratio 0.45 3 Months 7.81 6.09 6.44 2021 5.67 6.24 - - 3Y Beta 1.03 3Y Std Dev 23.59 6 Months 16.57 13.73 13.19 2020 -34.73 13.41 -3.15 19.70 3Y R-Squared 95.57 3Y Risk Avg 1 Year 48.84 50.23 43.80 2019 10.97 6.77 5.53 13.81 3Y Info Ratio 0.27 5Y Risk Avg 3 Years Annualised 8.30 6.82 8.43 2018 -2.73 6.70 -3.28 -13.79 3Y Tracking Error 5.02 10Y Risk abv avg 5 Years Annualised 10.37 7.88 10.12 2017 6.51 6.02 4.41 7.23 Calculations
    [Show full text]
  • Fidelity Special Values Plc 31 August 2021
    ret.en.xx.20210831.GB00BWXC7Y93.pdf FIDELITY INVESTMENT TRUSTS MONTHLY FACTSHEET FIDELITY SPECIAL VALUES PLC 31 AUGUST 2021 Investment Objective Portfolio Manager Commentary To achieve long term capital growth primarily through investment in UK equities recorded a seventh straight monthly gain in August. equities (and their related securities) of UK companies which the Sentiment remained buoyant, propelled by M&A activity, alongside Investment Manager believes to be undervalued or where the expectations for continued earnings strength. potential has not been recognised by the market It is encouraging to see the underlying stock picking coming through despite the recent underperformance of value stocks. This is partly down to the Trust benefiting from a number of M&A bids, Investment Trust Facts the latest being Meggitt, but is also a reflection of improving corporate fundamentals. Launch date: 17.11.94 Portfolio manager: Alex Wright, Jonathan Winton UK equities remain significantly undervalued compared to global 01.09.12, 03.02.20 markets, and reasonably valued in absolute terms on 13x 2022 Appointed to trust: estimates. While the UK market has looked cheap over the past Years at Fidelity: 20, 16 five years, the key differentiator in 2021 is that fundamentals on the Total Net Assets (TNA): £ 954m ground look very good. UK stocks are well positioned not only to Ordinary shares in Issue: 313,028,920 benefit from a recovery from the COVID pandemic, but also from Share price: 308.50p the lifting of the Brexit uncertainty. 304.79p NAV: We remain comfortable with how the portfolio looks from a Premium 1.22% valuations, returns on capital and risk perspective, and continue to Gross Market Gearing: 14.6% see meaningful upside potential for our holdings.
    [Show full text]
  • Fund Factsheet
    Fund Factsheet FTF Franklin UK Mid Cap W Inc Fund Information Fund Aim The Fund aims to grow in value by more than the FTSE 250 (ex-Investment Trusts) Index, from a Sector combination of income and investment growth over a three to five-year period after all fees and costs IA UK All Companies are deducted. Manager's Name Sector: IA UK All Companies Mark Hall Richard Bullas Daniel Green Performance % Marcus Tregoning 70 Date Manager Appointed 60 Jun 2013 50 Launch Date Sep 2012 40 Fund Size(£m) 30 £1215.59 Yield* (See page2) 20 0.49 % 10 XD Dates Apr 01, Oct 01, Mar 31, Sep 30 0 Last Distribution -10 01/04/21 (XD Date) -20 28/05/21 (Pay Date) Oct 16 Apr 17 Jul Oct Jan 18 Apr Jul Oct Jan 19 Apr Jul Oct Jan 20 Apr Jul Oct Jan 21 Apr Jul 1.06(Distribution) 26/09/2016 - 24/09/2021 Powered by data from FE FTF Franklin UK Mid Cap W Inc OCF IA UK All Companies 0.82 % Discrete Performance - 12 months to 31/12/20 2020 2019 2018 2017 2016 Fund -14.19 42.22 -13.48 26.38 -0.25 Morningstar Analyst Stock Sector Average -6.01 22.24 -11.19 13.99 10.82 Rating Bronze Cumulative Performance to 31/08/21 FE Crown Rating 1 Yr 2 Yrs 3 Yrs 4 Yrs 5 Yrs Fund 40.09 26.65 27.76 40.40 68.56 Stock Sector Average 32.43 20.79 16.95 24.60 41.75 Performance Analysis - Annualised 3 years Growth Rate % Volatility Alpha Beta Sharpe Fund 8.51 23.30 2.78 1.18 0.21 Stock Sector Average 5.36 18.77 0.00 1.00 0.10 Fund Factsheet FTF Franklin UK Mid Cap W Inc Fund Composition (%) Industrials 33.18 Consumer Discretionary 23.13 Financials 15.08 Real Estate 9.58 Consumer Staples 5.29 Cash & Cash Equivalents 4.28 Telecommunications 4.04 Basic Materials 3.52 Technology 1.90 (%) International Equities 95.72 Cash & Cash Equivalents 4.28 Largest Holdings Holdings (%) Holdings (%) SPIRENT COMMUNICATIONS 4.04 HOWDEN JOINERY GROUP PLC 3.48 LIONTRUST ASSET MANAGEMENT PLC 3.75 BODYCOTE PLC 3.48 GENUIT GROUP PLC 3.74 ELECTROCOMPONENTS PLC 3.37 GRAFTON GROUP PLC 3.62 PAGEGROUP PLC 3.13 REDROW PLC 3.58 CRANSWICK 3.08 * Data supplied by fund managers regarding fixed interests funds may not specify yield type.
    [Show full text]
  • Capital Markets Day
    Capital Markets Day Wootton Park and Chicheley Hall • 24 May 2018 bovishomesgroup.co.uk Capital Markets Day Welcome to Wootton Park Wootton Park is an attractive new Agenda for the day development in the pretty Bedfordshire 9:45am village of Wootton, less than 6 miles from Arrival on site, PPE and refreshments. the county town of Bedford and within Welcome and introductions, safety easy reach of busy Milton Keynes. briefing, divide into groups The vibrant village has a wide range of Site visit activities, sports and clubs for all ages, and 1. Site set up and management 2. Health and safety boasts a 14th century church, post office, 3. Phoenix Collection re-plan pharmacy, two convenience stores, pubs, a 4. Sales and marketing health centre, a library and local schools. 5. Sales specification Wootton Park offers a wide choice of 6. Show home brand new homes, each carefully designed 7. Build best practice to meet the needs of today’s lifestyles. 8. Build specification 12:30pm Depart site for Chicheley Hall, refreshments on arrival Presentation - Affordable Housing 1:20pm Buffet lunch 2:00pm Northampton A45 Presentations - A6 Business update A428 A4280 The Phoenix Collection A509 A422 Newport A1 Q&A Paynell Road Bedford M1 A603 3:30pm Wootton Bedford Road 15 Day ends - coach departs Chicheley Hall A421 14 for Bedford station Milton Keynes 13 A6 A421 4:11pm N A5 Train departs Bedford for London St Pancras 4:55pm Train arrives London St Pancras Fields Road 4 5 10 11 12 1 2 3 13 6 14 9 7 21 9 44 15 42 8 20 16 41 8 17 47 24 19 46 7 18 86 45 23
    [Show full text]
  • Agenda Item 4B-02 Attachment 2
    Attachment 2, Page 1 of 5 CalPERS 2013 Northern Ireland Report CalPERS Holdings of Non-US Companies with Operations in Northern Ireland as of December 31, 2013 Equity Exposure Fixed Income Exposure Company Name Country Number of shares Market Value Par Value Market Value Total Market Value 3I GROUP PLC United Kingdom 2,574,784 $ 16,422,524.30 $ 16,422,524.30 Abertis Infraestructuras, S.A. Spain 1,593,291 $ 35,456,913.79 $ 35,456,913.79 Adecco S.A. Switzerland 496,749 $ 39,433,833.03 $ 39,433,833.03 Aer Lingus Group PLC Ireland 690,822 $ 1,220,358.65 $ 1,220,358.65 AGF Management Limited Canada 473,502 $ 5,913,761.45 $ 5,913,761.45 Akzo Nobel N.V. Netherlands 913,438 $ 70,913,548.72 $ 70,913,548.72 Allianz SE Germany 1,688,214 $ 303,229,768.85 $ 303,229,768.85 Anglo American PLC United Kingdom 7,998,118 $ 174,864,659.74 $ 174,864,659.74 AON PLC United Kingdom 884,243 $ 74,179,145.27 $ 74,179,145.27 ASSOCIATED BRITISH FOODS PLC United Kingdom 942,014 $ 38,147,125.08 $ 38,147,125.08 AstraZeneca PLC United Kingdom 4,953,597 $ 293,321,909.59 $ 293,321,909.59 ATOS S.A. France 268,961 $ 24,382,739.52 $ 24,382,739.52 AVIVA PLC United Kingdom 10,790,113 $ 80,366,392.33 $ 80,366,392.33 Axa SA France 7,018,874 $ 195,464,125.84 28,000,000 $ 28,389,999.68 $ 223,854,125.52 AYALA CORPORATION Philippines 609,480 $ 7,113,403.71 $ 7,113,403.71 BABCOCK INTERNATIONAL GROUP PLC United Kingdom 1,071,215 $ 24,040,391.35 $ 24,040,391.35 Banco Santander, S.A.
    [Show full text]
  • Booking Form Intercontinental London – the O2 Wednesday 24 November
    BOOKING FORM INTERCONTINENTAL LONDON – THE O2 WEDNESDAY 24 NOVEMBER Housebuilder invites you to book your place at the ‘must attend event’ of the housebuilding year, the Housebuilder Awards. The Housebuilder Awards returns to the InterContinental London - The O2. The hotel stands out in the buzzing Greenwich Peninsula, enjoying spectacular Canary Wharf views and with the O2 arena just steps away. 18.45 – Drinks reception, Arora Foyer 19.30 – Dinner and Awards ceremony, East London Suite, Arora Ballroom 22.45 – Awards ceremony close followed by the after party 01.00 – Carriages The Housebuilder Awards is a black tie event. In partnership with Sponsored by: AWARDS 2021 FINALISTS BEST CUSTOMER BEST MARKETING BEST DESIGN FOR FOUR SATISFACTION INITIATIVE INITIATIVE STOREYS OR MORE Carriden Homes – Ribbonfield Catalyst & Focus – Time for a Barratt London – Nestlé Steadings place of your own apartments at Hayes Village, Hayfield – The Hayfield difference London Clixifix® – Customer care campaign Dandara – 1887 The Pantiles, simplified software Kingswood Homes – Shape your Tunbridge Wells Hill – Integration with Hill, home Places for People – 55 Degrees Yourkeys and pdCRM is the McCarthy Stone – Rebranding a North, Granton Waterfront, solution to lockdown sales well lived life Edinburgh Redrow – My Redrow, homeowner Taylor Wimpey – Not all rg+p – Magenta Court, Apsley support housebuilders are equal Telford Homes – Stone Studios, Taylor Wimpey – Customer service William Davis Homes – The time Hackney Wick hub is right Vistry Group – Vistry Partnerships’
    [Show full text]
  • FTSE Russell Publications
    2 FTSE Russell Publications 19 August 2021 FTSE 250 Indicative Index Weight Data as at Closing on 30 June 2021 Index weight Index weight Index weight Constituent Country Constituent Country Constituent Country (%) (%) (%) 3i Infrastructure 0.43 UNITED Bytes Technology Group 0.23 UNITED Edinburgh Investment Trust 0.25 UNITED KINGDOM KINGDOM KINGDOM 4imprint Group 0.18 UNITED C&C Group 0.23 UNITED Edinburgh Worldwide Inv Tst 0.35 UNITED KINGDOM KINGDOM KINGDOM 888 Holdings 0.25 UNITED Cairn Energy 0.17 UNITED Electrocomponents 1.18 UNITED KINGDOM KINGDOM KINGDOM Aberforth Smaller Companies Tst 0.33 UNITED Caledonia Investments 0.25 UNITED Elementis 0.21 UNITED KINGDOM KINGDOM KINGDOM Aggreko 0.51 UNITED Capita 0.15 UNITED Energean 0.21 UNITED KINGDOM KINGDOM KINGDOM Airtel Africa 0.19 UNITED Capital & Counties Properties 0.29 UNITED Essentra 0.23 UNITED KINGDOM KINGDOM KINGDOM AJ Bell 0.31 UNITED Carnival 0.54 UNITED Euromoney Institutional Investor 0.26 UNITED KINGDOM KINGDOM KINGDOM Alliance Trust 0.77 UNITED Centamin 0.27 UNITED European Opportunities Trust 0.19 UNITED KINGDOM KINGDOM KINGDOM Allianz Technology Trust 0.31 UNITED Centrica 0.74 UNITED F&C Investment Trust 1.1 UNITED KINGDOM KINGDOM KINGDOM AO World 0.18 UNITED Chemring Group 0.2 UNITED FDM Group Holdings 0.21 UNITED KINGDOM KINGDOM KINGDOM Apax Global Alpha 0.17 UNITED Chrysalis Investments 0.33 UNITED Ferrexpo 0.3 UNITED KINGDOM KINGDOM KINGDOM Ascential 0.4 UNITED Cineworld Group 0.19 UNITED Fidelity China Special Situations 0.35 UNITED KINGDOM KINGDOM KINGDOM Ashmore
    [Show full text]
  • June 2021 for Professional and Institutional Investors Only Open-Ended Investment Company
    In 2019, Montanaro Asset Management Limited became a certified B Corporation LF Montanaro UK Income Fund 30 June 2021 For Professional and Institutional investors only Open-Ended Investment Company Fund Objective Key Information To invest at least 00H of the 1und in the sha es of small and medium siJed UK companies, including REITs (Real Estate Fund Launch Janua y 2020 Investment T usts a e companies that aim to gene ate an income and/o p ofit f om investing in p ope ty), that have a ACD Lin4 1und Solutions ma2imum ma 4et capitalisation (the total value of the company) of I10 billion. The 1und may also invest up to 20H in Depositary BNY Mellon small, medium and la ge siJed companies, including REITs in the Eu opean Union (e2cluding the UK), Iceland, No 3ay and Lin4 1und Administ ato s S3itJe land. Transfer Agent Limited Legal Status OEIC Performance Domicile UK Valuation Time Daily 12pm (London) Rolling Returns Dealing Cut-Off Time Daily 11.59am (London) YTD 1M 3M 6M 12M 3Y 5Y 10Y Launch Accumulation Fund Facts 13.2H 0.8H 9.8H 13.2H 29.0H N/A N/A N/A 5.2H (£) Lead Fund Manager 9uido Dacie-Lomba do Income Co Fund Manager Cha les Montana o 13.2H 0.8H 9.8H 13.2H 29.7H N/A N/A N/A 5.2H (£ TR†) Comparator Benchmark IA UK E5uity Income Secto IA: UK Equity 12.1H -0.5H 5.0H 12.1H 25..H N/A N/A N/A 2.8H Income (£ TR) Fund Size I27.0 million No.of Holdings 50 Median Mkt Cap I1,022 million Cash 1.8H Calendar Year Returns Forecast Yield 21F* 2.9H 7Calculated as the 3eighted ave age fo ecast yield on the Po tfolio.
    [Show full text]