Avast Surges 42%, Just Eat Reports Earnings Growth: News Roundup

Here are the top stories from the London Listed stocks on Wednesday.

Rolls Royce

  • Rolls Royce has announced the Spanish government has approved the sale of ITP Aero to a consortium of investors led by Bain Capital Private Equity.
  • As a result, the completion of the transaction, at an enterprise value of approximately €1.8 billion, is expected in the coming weeks.
  • This sale, which was announced on 27 September 2021, completes the company’s disposal program announced on 27 August 2020 to raise proceeds of at least £2.0 billion.

Just Eat Takeaway

  • Just Eat reported strong revenue growth of 7% to €2.8 billion in H1.
  • Adjusted EBITDA improved by 29% to minus €134 million.
  • Just Eat confirmed its guidance for FY 2022 and expects Adjusted EBITDA to be in the range of -0.5% and -0.7%.

Avast

  • The boards of Avast and NortonLifeLock announced that they had reached agreement on the terms of a recommended merger of Avast with NortonLifeLock.
  • Britains competition regulator has provisionally cleared NortonLifeLock’s $8.6 billion purchase.
  • Avast share price has surged 42% following the news.

Taylor Wimpey

  • Taylor Wimpey reported its half-year results which saw revenue fall 5.4% to £2.08 billion.
  • Operating profit came in at a reported £424.6 million, and its operating profit margin increased to 20.4%.
  • Announced 2022 interim dividend of 4.62 pence per share amounting to £163 million.
  • Taylor Wimpey’s shares have increased 2.37% on Wednesday.

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