Shares in Serco are down 5% in morning trading after the outsourcing company cut its FY 2018 revenue guidance by 6%, from £2.8-2.9b to £2.7-2.8b in the latest trading update. Note, however, that Serco maintained its FY profits guidance at £80m, which suggests higher profits margins for the company on the back of transformational cost…
Greene King management may well be toasting the recent good weather and England’s World Cup success, with Pub Company Sales up a sparking 2.2% like-for-like in the last 8 weeks, but the future is perhaps not so bubbly for them or investors. Or drinkers for that matter. And not just because of that global shortage…
IWG shares are trading -4.3% after the company reported that disappointing UK business performance is forcing it to reassess FY operating profits, which are now expected £15-20m below previous assessments. An unwelcome profits warning! The company is taking a painful short-term hit to its profitability (and to its share price) as it is investing in…
Shares in London listed airlines are understandably hampered by oil’s continued rebound from OPEC-meeting lows, rendering fuel costs more expensive. Two, however, stand out with rather divergent performance but for the same reason. Shares in easyJet are 0.3% higher after UK lawmakers, following years of delays, finally approved a third runway at London’s Heathrow airport….
The strongest factors influencing the direction and momentum of Foreign Exchange (FX) rates are changes in the key interest rates, themselves highly sensitive to macroeconomic data such as inflation and economic growth, as well as geopolitical concerns. Higher interest rates tend to render the currency more attractive (and vice versa) which in turn can result in it…
Shares in real estate agent Countrywide (CWD.L) plummeted -23% as the company projected £20m lower H1 EBITDA in its latest trading update, blaming a “subdued” market outlook. More importantly, it doesn’t see itself making up the difference in H2 either, making it, effectively, a FY profits warning. Investors were running for the hills as this…