Deliveroo, Premier Foods, Experian, CMC Markets: Morning Roundup

The European markets remaining indecisive on Wednesday, with the FTSE 100 up 0.1%. This comes despite UK inflation jumping to 11.1%, above analysts’ forecasts.

This Morning’s Roundup includes earnings from Premier Foods, Experian and CMC Markets, as well as company news from Deliveroo.

Deliveroo

  • Deliveroo announced its decision to end operations in Australia.
  • The decision is driven by the company’s disciplined approach to capital allocation.
  • The company wants to drive growth and deliver profitability.
  • However, Deliveroo stated Australia is a highly competitive market and it does not hold a broad base of strong local positions.

Premier Foods

  • Premier Foods reported its half-year results on Wednesday, with revenue up 6.2% to £420 million.
  • The food manufacturer reported a pre-tax profit of +11.9% and earnings per share up 11.4%.
  • The company stated it had made very good progress in the first half of the year against a challenging environment.
  • Premier Foods believes it remains on track to deliver on expectations for the full year and take its good momentum into H2.

Experian

  • Experian posted its half-year results which saw strong delivery in H1.
  • The consumer credit firm reported Q2 organic revenue growth of 8% and B2B organic revenue growth of 7%.
  • The company said it has made a significant expansion in Latin America and shown good performances across North America and the UK and Ireland.

CMC Markets

  • CMC Markets interim results saw net operating income jump 21% compared to H1 2022.
  • The group posted a trading net revenue of £128.4 million, up 27% YoY.
  • However, operating costs increased 28% to £106.3 million.
  • Furthermore, its three-year growth plans remain unchanged and on track, with new business expansion expected to grow net operating income by 30%.
  • Guidance for FY23 remained unchanged.

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