Welcome to Walbrock new section, where we look back to the movers and shakers in the world of finance, markets, economics and Investment during the past week.
Well, what a week to start a new segment on Walbrock Research.
The election is over and Theresa May came out of this election worse than she came in. I guess we are going to have a “softer Brexit”, a consolation prize to those voting for remain.
Stocks and Shares
AO World’s operating losses have widened to £12m from £10.7m by blaming the weak British Pound. (LSE) The fact remains AO has accumulated an operating loss of £20m since 2008, despite revenue rising from £81m to £701m! Shares have fallen by 15% in the past month.
Shoe Zone saw interim pre-tax profits slumped to £309,000 from £1.9m. Sales fell by 2.3% to £72.9m. (Daily Mail) That will dent their margins! Shares are down 9% in the past month.
Good News from Molins on Thursday as they entered into a conditional agreement to sell its Instrumentation & Tobacco Machinery division for net proceeds of £27.3m. (Investegate) Shares trading around £1, which beats my 18 months average forecast of 80 pence per share in my March’s post.
(P.S. I didn’t expect a disposal!)
Investing guru, Leon Boros has raised some red flags on IDOX PLC. (ShareProphets)
The delivery company DX Group is under investigation by the City of London Police, shares suspended! (Investegate)
Companies, Market and Investment News
Will the London Stock Exchange break its listing rules to attract the biggest listing that is Saudi Aramco? (The Guardian)
RBS shareholders to agree to £200m settlement over £12bn rights issue. (The Telegraph)
Poundland’s new owner is set to raise prices by introducing a “multi-price point” range to counter higher import costs. (Evening Standard)
Meanwhile, Philip Green’s Arcadia Group saw UK turnover fall to £1.7 billion in the year to August 27, from £2.2 billion, while pre-tax profits plunged to £165.9 million from £208.3 million. (Evening Standard)
A person who bought a diamond ring for £10 back in the 1980s sold it for £656,750! Assume the person made the purchase in 1985, the compound return is 41.4%. Nice. (BBC)
I hope you enjoy these and have a new nice weekend!