BP Profits Surge, Greggs Revenue Rises and Purplebricks Falters: News Round-Up
BP reported earnings for the second quarter with Q2 underlying replacement cost profit, used as a proxy for net profit, of $8.5 billion, compared to $2.8 billion in Q2 2021.
Analysts had expected a profit of around $6.8 billion.
BP boosted its dividend by 10% to just over 6 cents per share.
BP also announced it will conduct $3.5bn of share buybacks.
Greggs posted its interim results for the 26 weeks ended July 2.
Total sales came in at £694.5 million, up 27.1% and ahead of 2019 levels.
Pre-tax profit was £55.8 million, just above the £55.5 million reported in the same period last year.
Wizz Air reported that it carried 4.76 million passengers in July, a 61.1% increase compared to July 2021, at a load factor of 89.7%.
Capacity was 5.3 million during the month.
Wizz Air shares are up 0.2% in early Tuesday trading.
Purplebricks shares are down more than 4% Tuesday after it reported results for the year ended April 30 2022
Revenue was down 23% to £70 million (FY21: £90.9 million) due to lower instruction volumes.
Instructions declined 31% to 40,141 (FY21: 58,043), impacted by supply issues in the housing market, but average revenue per instruction increased by 4% to £1,568, driven by higher average fees.
Loss from total operations was £42 million (FY21: profit of £6.8m), and the company said that while volumes and revenue in Q1 FY23 have improved, supply dynamics remain challenging.
Domino’s Pizza shares dipped in early Tuesday trading following the release of its half-year results for the 26 weeks ended June 26.
Group revenue was up 0.2% to £278.3 million, driven by increased supply chain revenue.
However, underlying profit before tax declined to £50.9 million, largely driven by the timing lag in passing through higher costs to franchisees.
JD Sports announced that Régis Schultz has been appointed as the company’s new Chief Executive Office.
Régis, who will join from Al-Futtaim Group, will start in September, with Kath Smith undertaking a full handover during a transitionary period. Kath will then resume her former role as Senior Independent Director on the Board.