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 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 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 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 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.