Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Premarket London: DS Smith Posts Strong H1; IG Revenue Flat

Published 2019-12-05, 02:08 a/m
Updated 2019-12-05, 02:41 a/m
© Reuters.

Investing.com -- Here is a summary of the most important regulatory news releases from the London Stock Exchange on Thursday, 5th December. Please refresh for updates.

  • Packaging group DS Smith (LON:SMDS) said its profit before tax rose 31% to 213 million pounds in the first half of the year ending in April, driven by the rise of online shopping and market share gains in fast-moving consumer goods.

    • Spread-better IG Group (LON:IGG) said it expects net revenue in the first half of its fiscal year to have been flat at 250 million pounds ($328 million), which translates into a modest underlying gain given that the comparable period included a period of two months before new European regulations hit its core spread=betting business.

    Revenue from core markets fell an estimated 6% due to the same factors.

    On a brighter note, IG said it served 4% more clients on average. IT also said revenue from “businesses identified as significant opportunities” rose 43% to 40 million pounds, helped by “promising” uptake for its new turbo24 service in Europe, which has attracted 700 clients in less than two months since launching.

  • Revenue rose 4% to 3.19 billion pounds and CEO Miles Roberts said he expects volume growth to accelerate in the second half of the year, given that its greenfield box plant in Indiana is now operational.

  • Return on sales rose 110 basis points to 11%, its highest ever. The group raised its interim dividend 4% to 5.4p, on adjusted earnings per share of 17.4p

  • DS Smith also said it expects the disposal of its plastics business to complete around the year-end, generating net proceeds of 400 million pounds.

    Latest comments

    Install Our App
    Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
    Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
    Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
    It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
    Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
    © 2007-2024 - Fusion Media Limited. All Rights Reserved.