Just days after the departure of their CFO, Paddy Power Betfair shares are sharply lower this morning as FY results, and more importantly guidance, disappoint shareholders. The betting chain noted that while both revenues and EBITDA grew by 13% and 18%, respectively, above expectations, a string of unfavourable sporting results for punters dented customer activity…
Countrywide shares plumbed fresh record lows this morning after the UK estate agent issued its second profits warning in barely six weeks and investors had to wave goodbye to the dividend. Not that the City had been pencilling in much in the way of income. Not after an already tough 2017, made tougher by a…
Mondi (MNDI) topped the UK Index on Friday, enticing investors with a bumper special dividend to prove management’s confidence that a troubled second half of 2017 was water under the bridge, boosting its yield to overtake recently shunned bond-proxies hurt by rising Treasuries. Today it’s the turn of Smurfit Kappa (SKG) – Europe’s largest producer…
The musical chairs continue at Paddy Power Betfair this morning, with CFO Alex Gersh set to leave his role after six years for personal reasons. The betting chain has seen a significant period of transition in the upper echelons of the business, with a long list non-executive directors as well as the head of marketing…
Macro observations Foreign exchange markets have begun the week digesting a double act of European political developments. While the German election has finally reached a conclusion – with a grand coalition formed between Chancellor Merkel’s CDU/CSU and the opposition SPD for the second consecutive term – another protracted coalition negotiation may be about to begin. With…
2 March The Telegraph (Link) Mike van Dulken, head of research at Accendo Markets, said: “After October’s profits warning management would only offer this special dividend if it was confident in the outlook and views the current financial position as strong enough to wear the cash outflow and not jeopardize future commitments, including small [to] mid-sized…