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UK pre-market stocks update – Taylor Wimpey, Berkeley, SSP, Centrica, Tui

Stock MarketsDec 08, 2021 07:43
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By Samuel Indyk – At 07:39GMT, FTSE 100 futures are trading lower by 0.2% at 7,331.

In FX markets, GBP/USD is trading at 1.3242, EUR/GBP is trading at 0.8524. The US Dollar Index is down 0.2%.

Today’s calendar highlights include US JOLTs and the Bank of Canada interest rate decision.


Taylor Wimpey (LON:TW) - Peter Redfern to step down as CEO. Redfern is to leave the business once a suitable candidate has been found and full handover has taken place.

Berkeley Group (LON:BKGH) -  H1 profit before tax up 26% to £290.7 million. Earnings expectations for the current financial year ending 30 April 2022 raised by around 5% from the current guidance. Commitment to £282 million (£2.52 per share) per annum ongoing Shareholder Returns up to 30 September 2025 re-affirmed.

Shell (LON:RDSa) / BP (LON:BP) - Both companies have expressed interest in onshore and shallow water oil & gas blocks set to be auctioned by Trinidad next year.

Centrica (LON:CNA) - 69% owned subsidiary Spirit Energy to sell Norwegian oil and gas exploration and production business excluding the Statfjord field to Sval Energi. Also to sell its interests in the Statfjord field to subsidiaries of Equinor. Headline consideration to Spirit Energy of circa £800 million. Centrica's 69% share of proceeds expected to be circa £560 million. Will be “significantly dilutive” to near term earnings.

Tui (LON:TUIT) - Q4 group revenue of €3.4 billion, up €2.4 billion from the same period last year. Q4 delivered first positive Group quarterly EBITDA of €160 million since start of pandemic. Encouraging pipeline of 4.1 million bookings across both Winter 21/22 and Summer 22, with 1.4 million bookings added since 3 October.

SSP Group (LON:SSPG) - FY revenue for year ended 30th September 2021 down 41.8% versus 2020 and 70.1% versus 2019. Operating loss of £309.2 million. Loss before tax of £411.2 million. Revenue averaged 66% of 2019 in the first 9 weeks of the new financial year. Medium term expectations remain unchanged, which are for a return to like for like revenue at broadly similar levels to 2019 by 2024.

Centamin (LON:CEY) - Delivered Mineral Reserve growth in excess of one million ounces net of six months mining depletion, representing a 23% increase in Sukari Proven & Probable Mineral Reserves. Roadmap to +500,000 ounces of gold per annum, underpinned by a robust interim 12 year life of mine schedule. Sees production of 450-500koz by in FY24.

Man Group (LON:EMG) - Announces new $250 million share repurchase programme.

Games Workshop (LON:GAW) - Trading since the last update in September 2021 is in line with expectations. Estimate of the results for the six months to 28 November 2021, at actual exchange rates, is sales of not less than £190 million and profit before tax of not less than £86 million. Operating profit-pre royalties receivable is estimated to be down circa £15 million.

Blue Prism (LON:PRSMB) - The current Vista offer is the final offer and cannot be increased.

McColl's (LON:MCLSM) - Total FY21 revenue declined by 11.2% to £1.11 billion. Adjusted EBITDA pre IFRS 16 is expected to be between £20-£22 million. Total of 185 Morrisons Daily stores trading at year-end, ahead of schedule, with 154 conversions completed during FY21.

Stagecoach (LON:SGC) - H1 revenue increased to £579.4 million. Adjusted total operating profit more than doubled to £32.9 million. UK regional bus passenger journeys and commercial sales at over 70% and over 80% respectively of equivalent 2019 levels for the most of November. Constructive discussions are continuing with National Express Group (LON:NEX) on a potential combination.

Diversified Energy Company (LON:DEC) - Closed the acquisition of Oklahoma-based Tapstone Energy Holdings and Tapstone's interest in its related party KL CHK SPV for a purchase price of around $181 million. Increased credit facility with a new $825 million borrowing base.

UK pre-market stocks update – Taylor Wimpey, Berkeley, SSP, Centrica, Tui

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