Biffa shares fall despite five-month revenue increase as driver shortage hangs in the balance

Biffa shares fell 5% to 385 pence after the waste group reported higher net income in the first five months of its year through March 2022 than during the same period in 2019, but he reported disruptions due to a shortage of truck drivers and other supplies. chain problems. Trade has lived up to expectations, with industrial and trade volumes now slightly above pre-pandemic levels, Peel Hunt said. The brokerage firm raised its target for a share price to 430 pence from 380 pence. “The shares have hit our 380 pence price target and heading towards the 430 pence we suggested two months ago would be possible a year from now,” Peel analysts said.

 
Companies News: 

Fruugo.com will be featured on Junior AIM in London in October

Fruugo.com Ltd. on Wednesday announced its intention to list on London’s AIM Junior Market early next month.

Cora Gold Agrees to Terms of $ 25 Million Conditional Investment for Mali Gold Project

Cora Gold Ltd. on Wednesday announced that it has signed a $ 25 million conditional condition sheet with investment firm Lionhead Capital Advisors Proprietary Ltd., and that it will use the funds for the development of the Sankoro gold project in Mali.

IPO of Optima Health Plans in London

Optima Health Group PLC said on Wednesday it was seeking an initial public offering on the London Stock Exchange.

Prospex Energy receives correspondence indicating former directors violated share issue limit

Prospex Energy PLC said on Wednesday it received correspondence indicating that former directors of the company may have exceeded their authority regarding the issuance of new common shares.

Science Group increases its stake in TP Group

Science Group PLC increased its stake in TP Group PLC to 26.86% from 24.31%, according to a regulatory brief released on Wednesday.

B&M European Stock Retail Revenue to Date in Line with Views

B&M European Value Retail SA said on Wednesday that the group’s turnover to date was broadly in line with market expectations and that the gross margins of B&M fascia stores in the UK were higher than initially expected.

Arbuthnot Banking sells Secure Trust Bank shares for £ 2.5million

Arbuthnot Banking Group PLC announced on Wednesday that it had sold 2.5 million pounds ($ 3.45 million) of shares of Secure Trust Bank PLC.

Non-executive director of Yellow Cake re-elected with low approval

Yellow Cake PLC said on Wednesday that all of its annual general meeting resolutions were passed, although a resolution to reappoint a non-executive director was passed with less shareholder approval.

Genius Sports Reports Second Quarter Revenue Gains As Loss Worsens

Genius Sports Ltd. Wednesday posted a larger second-quarter year-over-year loss, but revenue grew across all lines of business for the company.

Genius Sports refines full-year revenue projections

Genius Sports Ltd. Wednesday raised its mid-point full-year revenue forecast and reaffirmed its previous guidance for adjusted earnings before interest, taxes, depreciation and amortization.

 
Market Talk: 

Ferrexpo’s EBITDA Expected to Reach $ 1.7 Billion in 2021

1233 GMT – Following Vale’s announcement that the fourth quarter pellet premium for the Atlantic market is $ 47 per metric tonne, Peel Hunt increases its 2021 Ebitda estimate for the iron ore pellet producer Ferrexpo by 10% to $ 1.7 billion. However, estimates of net debt for the year are unchanged due to higher investments and dividends, according to the brokerage. In addition, Peel Hunt also notes the medium term forecast for Ferrexpo, as the pellet expansion project is expected to end about a year ahead of schedule, while the debottlenecking will allow replacement concentrates to be sold before completion. said Peel Hunt. The brokerage firm reaffirms its buy rating on Ferrexpo and raises the target price from 510 pence to 520 pence.

Anglo American says seventh sales cycle reflects positive sentiment

1222 GMT – Anglo American miner reports De Beers cycle 7 sales of $ 515 million versus cycle 6 sales of $ 514 million reflects positive sentiment within the diamond industry’s manufacturing sector and reflects demand healthy in key US and Chinese markets, Citi said. Although the company noted that optimism within the industry was evident at the recent JCK Las Vegas trade show, as the third quarter tends to be weaker seasonally for rough diamond sales, risks remain. for the next two sales cycles, Citi said. There are 10 sales cycles each year. Year-to-date rough diamond sales at $ 3.6 billion are above $ 2.9 billion in 2020 and approach $ 4 billion in 2019, according to the U.S. bank. Citi is evaluating the purchase of shares.

888 Acquisition of Non-U.S. Assets from William Hill Offers Improved Earnings and Reassessment of Scope

1150 GMT – 888’s potential acquisition of the non-US business of William Hill makes strategic sense as it would offer diversification by product and geography, cross-selling reach, material cost savings through operating the proprietary technology, a more efficient balance sheet and the possibility of a re-rating after the deal due to scale and rate of growth, says Jefferies. The US bank estimates an overall valuation of £ 2.3 billion for William Hill’s non-US assets. However, this is not a deal “to do” as 888 remains very attractive given its proprietary technology across a range of gaming products, notes Jefferies. The bank has a buy rating of 888 and is raising the target price to 480 pence from 460 pence based on the strong performance of 2021.

Severe drought to hit Brazil’s power sector

1106 GMT – The severe drought in Brazil will contribute to an extremely tight energy balance in the country, Wood Mackenzie said. The country’s power system manager has released a scenario in which 5.5 gigawatts would be short for October and November if hydrology remains weak, according to the consulting firm. Drought is also affecting Argentina and Chile. Brazil will need to increase its gas imports to transport its thermal power capacity, and Bolivian producers can take advantage of the situation, said Wood Mackenzie. The Brazilian electricity market is home to some of the largest European utilities, including Enel, Iberdrola and Engie.

888’s acquisition of William Hill assets would quadruple its profits

10:37 GMT – There is a strong market and strategic rationale for 888 to acquire William Hill’s online and retail assets outside of the United States as the deal would significantly expand the scale of the games company said Peel Hunt. The merger could bring the pro forma EBITDA for fiscal 2021 to $ 664 million, against $ 164 million for 888 autonomous, estimates the brokerage company. “The strategic rationale for the online acquisition is simple: the bigger the better, and 888 could bring demonstrable expertise to underperforming brands while extracting synergies.” As for the Retail division, in a world of tighter regulation, William Hill’s UK betting shops would serve as billboards and access to an omnichannel strategy in the country, says Peel Hunt.

UK gas production set to pick up in 2022

10:33 GMT – UK gas production will pick up in 2022 after falling this year, Wood Mackenzie said. The consulting firm predicts that production will rebound to 35 billion cubic meters next year, up from an estimate of 27 billion for 2021 and in line with 35 billion in 2020. The recovery will be driven by the start of new projects such as Saturn Banks and others who have been postponed due to the coronavirus pandemic, as well as infill drilling in large production fields, Wood Mackenzie says. With Britain’s winter record already tight, a resumption of gas production is essential for this cold season, analysts at the consulting firm say. (

UK gas production plunges 28%, contributing to Europe’s energy crisis

10:28 GMT – UK gas production is down 28% year-to-date, helping fuel the current rise in gas prices in Europe, Wood Mackenzie said. Gas production in the eight months through August fell to 17 billion cubic meters, from 24 billion during the same period of 2020, according to the consulting firm. The drop was caused by maintenance work like that of the Forties pipeline system in June and delays in new projects like Tolmount. However, Wood Mackenzie expects UK gas production to recover in the last few months of the year to just over 27 billion cubic meters, which would be further down from 35 billion in 2020 and 34 billion in 2019.

 

Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at [email protected]

(END) Dow Jones Newswires

September 08, 2021 09:16 ET (13:16 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.


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