|No. of shares out||1,163m|
|No. of shares floating||769m|
|No. of employees||2,126|
|Trading volume (10 day avg.)||8m|
|Profit before tax||£54m|
|Earnings per share||2.72p|
|Cashflow per share||4.03p|
|Cash per share||12.40p|
Boohoo: many years of growth, says Jefferies
Online fashion retailer Boohoo (BOOH) has had an ‘excellent end’ to its 2019 financial year and Jefferies says there is plenty of room for growth in and outside of the UK.
Analyst Caroline Gulliver reiterated her ‘buy’ recommendation and target price of 280p on the shares, which jumped 10p to 226.9p yesterday.
Gross profit, earnings and profit before tax all rose 50% year-on-year, with the international division rising to 43% of the group’s sales.
‘It is worth remembering that Boohoo brand sales are still under £500 million worldwide, and group UK sales are under £500 million while US and rest of Europe, and rest of world sales are all still under £200 million,’ said Gulliver.
‘We see plenty of opportunity for the group, under new chief executive John Lyttle, to grow at its mid-term guidance of c.25% for many years.’
|No. of shares out||3,915m|
|No. of shares floating||3,904m|
|No. of employees||31,703|
|Trading volume (10 day avg.)||7.9m|
|Profit before tax||£2,395m|
|Earnings per share||37.58p|
|Cashflow per share||47.86p|
|Cash per share||821.37p|
Shore Capital: new Aviva boss has a tough job
Andy Briggs has stepped down as UK chief executive of Aviva (AV) after missing out on the top position to Maurice Tulloch, who Shore Capital says has a ‘tough job’ ahead of him.
Analyst Paul De’Ath retained his ‘hold’ recommendation and ‘fair value’ of 430p on the shares,
‘Tulloch has a tough job ahead to inject a greater pace of change into an organisation that could still be feeling “change fatigue”,’ he said.
‘The group is the one true composite in the UK but the tangible benefits of this have yet to be exploited other than in capital diversification. Debt repayments seem a better use of excess capital than share buybacks and should help to move the return on equity closer to that of peers.’
|No. of shares out||792m|
|No. of shares floating||345m|
|No. of employees||137,014|
|Trading volume (10 day avg.)||1m|
|Profit before tax||£1,860m|
|Earnings per share||127.47p|
|Cashflow per share||202.03p|
|Cash per share||175.83p|
Primark the key to ABF success, says Hargreaves
As its sugar business struggles, Primark continues to drive Associated British Foods (ABF) and still holds the key to success, says Hargreaves Lansdown.
Half-year results from the group showed revenue up 1% to £7.5 billion but profit down 14%.
‘Sugar is proving far from sweet, but… profits are set to improve,’ said analyst George Salmon. ‘Still, it’s Primark, which accounts for over half of the capital expenditure bill, that holds the key to success.’
Salmon said the ‘constant addition’ of extra sales space at Primark was driving the top line forwards but fast fashion is slowing.
‘Primark’s pricing point means there’s a reason it’s focused solely on bricks and mortar retailing, but one can’t help but think this is holding the top line back.’
The shares rose 2.1% to £25.58 yesterday.
|No. of shares out||331m|
|No. of shares floating||201m|
|No. of employees||507|
|Trading volume (10 day avg.)||0.4m|
|Profit before tax||£47m|
|Earnings per share||9.93p|
|Cashflow per share||10.12p|
|Cash per share||37.15p|
Peel Hunt downgrades IntegraFin
Peel Hunt has downgraded IntegraFin (IHP) on ‘more limited upside’ due to stock market uncertainties.
Analyst Stuart Duncan downgraded his recommendation from ‘buy’ to ‘hold’ and increased the target price from 380p to 400p. The shares fell 2.2% to 379p yesterday.
The financial adviser investment platform delivered a rise in assets to £34.4 billion in the second quarter but flows were at a slower rate.
‘After a more challenging start to the year, markets have improved although it is too early to say whether improved sentiment will be sustained,’ said Duncan.
‘IntegraFin does have a diverse asset exposure, and this provides some protection. Net inflows remain robust and we do not believe the current short-term volatility and general macro uncertainties affect the long-term prospects.’
He added that the shares had performed well but lagged other listed platform companies.
|No. of shares out||48m|
|No. of shares floating||27m|
|No. of employees||155|
|Trading volume (10 day avg.)||0m|
|Profit before tax||£3m|
|Earnings per share||1.69p|
|Cashflow per share||5.26p|
|Cash per share||2.98p|
PureTech ‘significantly undervalued’, says Liberum
PureTech’s (PRTC) portfolio is being ‘significantly’ undervalued by its share price, according to Liberum.
Analyst Alistair Campbell retained his ‘buy’ recommendation and target price of 275p on the shares, which fell 1.8% to 183p yesterday.
‘We believe PureTech’s share price significantly undervalues its portfolio of healthcare affiliates and internal pipeline,’ he said.
‘Despite the 25% share price appreciation over the last 12 months, we still see 50% upside.’
Campbell said the full-year results ‘recap a year of significant clinical progress and major affiliate fundraising’.
‘The next 12 months should see further progress with several proof of concept trial read-outs and the potential for PureTech’s second US product approval,’ he said.