Joules, DS Smith, Supply@ME, Unite Group: Morning Roundup

European equities have started the week lower as markets continued to be impacted by the current macroeconomic climate and Friday’s US jobs report that could signal further rate hikes. The FTSE 100 is currently down 0.61%.

Joules

  • Joules provided a statement on Monday in response to recent media reporting.
  • Joules stated they continue to make good progress in developing its turnaround plan, which focuses on driving higher profitability.
  • The group continues to assess a possible equity raise to strengthen its balance sheet.
  • One of the alternatives is a CVA, although it has not been determined if such alternatives are required.

DS Smith

  • DS Smith provided its trading statement, as trading continues to be very good and consistent with trends.
  • The group expects operating profit for the half year to 31 October to be at least £400 million.
  • Revenue growth has been strong, which has driven profitability, according to DS Smith.
  • Its shares surged 10% since the announcement.

Supply@ME

  • Supply@ME has made applications to the FCA and LSE for the admission of new shares.
  • The company has applied for the admission of 9,578,498,083 secondary shares.
  • This is further to the issue of 320,855,008 open offer warrants to certain qualifying shareholders who participated in the open offer.
  • The admission is expected to occur on or around 11 October.

Unite Group

  • Unite group has acquired 180 Stratford, a 178-unit-purpose-built-build-to-rent property in Stratford for £71 million.
  • The acquisition will enable the group to test its operational capability to extend its accommodation offer to young professionals.
  • The property is expected to produce a yield on cost of 4.3% following a planned refurbishment in 2023.

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