Good morning! The FTSE finished up 2% yesterday and got back within the range where it spent most of last year:
The Aim All-Share Index remains in a state of total depression:
I’ve reached a point now in my own thinking where I don’t know if the Aim Index is useful as a benchmark for anything – its performance has been that poor over the long-term! I’d rather use one of the FTSE Indexes instead.
Companies Reporting
| Name (Mkt Cap) | RNS | Summary | Our view (Author) |
|---|---|---|---|
|
Wise (LON:WISE) (£12.1bn) |
FY25 vol +23% to £145bn, active cust +21% to 15.6m. Adj income +16% to £1.36bn. 20% PBT mgn. | ||
|
B&M European Value Retail SA (LON:BME) (£3.0bn) |
SP +3.5% |
AMBER/RED (Roland) [no section below] I’m pleased to see there are no further downgrades after February’s profit warning. But I remain concerned by apparent weakness in the core UK business, where LFL sales fell by 3.1% last year. With operating costs up by 6% over the same period, margins must surely be under pressure? In this context, the group’s plans to maintain a high rate of store openings looks a little risky to me. With the CEO departing on 30 April, I’m going to leave my mildly negative view unchanged ahead of June’s FY results. |
|
|
Frasers (LON:FRAS) (£2.8bn) |
25yr agreement to launch Sports Direct in Aus/NZ. Frasers will fund with £29m Accent (ASX:AX1) share purchase. | ||
|
Tate & Lyle (LON:TATE) (£2.4bn) |
Integration of CP Kelco “on-track”, improved EBITDA margin. FY25 results exp in line with guidance. | ||
| Greatland Gold (LON:GGP) (£1.8bn) | Telfer Ore Reserve, Outlook and Havieron expansion | Telfer dual train extended through FY27 before Havieron in FY28. Exp avg 280-320koz/yr in 26/27. | |
|
Integrafin Holdings (LON:IHP) (£1.0bn) |
Q2 25 net inflows of £1.2bn, 7.3% of opening FUD. Total FUD +8% YoY to £65.9bn. H1 group revenue is expected to rise by 9% to c.£77m. |
AMBER/GREEN (Roland) [no… |
