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UK pre-market stocks update – GSK, Unilever, Deliveroo, Entain, AB Foods

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In FX markets, GBP/USD is trading at 1.3632, EUR/GBP is trading at 0.8336. The US Dollar Index is flat.

Bitcoin is trading at $42,022.

Today’s calendar highlights include Norges Bank interest rate decision, Eurozone CPI, Turkish Interest Rate Decision, ECB Accounts, US Jobless Claims, Philly Fed Manufacturing Index, US Existing Home Sales, EIA Crude Oil Inventories.

GlaxoSmithKline (LON:GSK) / Unilever (LON:ULVR) – Unilever said it will not increase its offer for the GSK Consumer Healthcare unit above £50 billion.

Entain (LON:ENT) – FY group net gaming revenue up 7% YoY. Online growth continues to be actives driven, with actives up 25% YoY. Retail NGR down 3% reflecting more Covid-19 restrictions than the prior year. FY21 Group EBITDA expected to be in the range of £875-£885 million, ahead of previous expectations. BetMGM (the Group’s joint venture in the US with MGM Resorts) FY21 NGR of approximately $850 million, up nearly 5 times versus the prior year.

Associated British Foods (LON:ABF) – Group revenue in 16 weeks to 8th January increased 16% to £5.569 billion. Grocery, Sugar, Agriculture and Ingredients revenues in aggregate were 5% ahead of last year. Retail sales were 32% ahead of last year with an operating profit margin ahead of expectations. Trading was impacted by a decline in footfall as a result of the rapid rise in Omicron cases but has improved in recent weeks. Expect an increase in the adjusted operating profit for Sugar and reduced adjusted operating profit margins in Grocery and Ingredients at the half year. Expect Primark sales from now to April to be significantly better than sales in the comparable period in the last financial year. Outlook for the Group is unchanged, with significant progress, at both the half and full year, in adjusted operating profit and adjusted earnings per share.

Premier Foods (LON:PFD) – Q3 group sales up 7.0% versus two years ago, ahead of expectations. Q3 Branded sales ahead 11.3% vs 2 years ago. Upgrading FY21/22 profit expectations; trading profit expected to be at least £145 million this year.

Deliveroo (LON:ROO) – Full year pro forma gross transaction value (GTV) up 70% year-on-year in constant currency, at the top end of previous guidance. FY guidance for gross profit margin (as % of GTV) maintained at previous guidance range of 7.5-7.75%.

Hochschild Mining (LON:HOCM) – Full year attributable production in line with forecasts, with 221,419 oz of gold, 12.2 million oz of silver. 2021 all-in sustaining costs expected to meet $1,210-$1,250 per gold equivalent ounce guidance. 2022 production target of 335,000-345,000 gold equivalent ounces (28.8-29.7 million silver equivalent ounces) using 86x gold silver ratio, 360,000-375,000 gold equivalent ounces (26.0-27.0 million silver equivalent ounces) using 72x gold silver ratio.

AJ Bell (LON:AJBA) – Total customer numbers increased to 398,066, up 27% over the last year and 4% in the quarter, with total net inflows in the quarter of £1.3 billion. Total assets under administration increased to £75.6 billion, up 21% over the last year and 4% in the quarter.

Spirent Communications (LON:SPT) – Full year revenue grew by 10% to $576 million. Now expect to deliver an adjusted operating profit slightly ahead of market consensus.

Wickes  (LON:WIX) – Q4 core sales down 6.8%, total sales down 5.0%. Continue to expect to report adjusted PBT of no less than £83 million. Announces the appointment of Mark George as Chief Financial Officer, replacing Julie Wirth, who has announced her intention to retire from a full-time executive role.

Workspace Group (LON:WKP) – Average of 831 enquiries per month in the quarter (Q3 2020/21: 672) and 117 lettings per month (Q3 2020/21: 109). Like-for-like occupancy continues to improve, up 1.0% in the quarter to 86.6%.

Marlowe (LON:MRLM) – Entered into binding agreement to acquire Optima Health Group Limited for £135 million. Proposed Placing to raise circa £130 million by way of an accelerated bookbuild to fund the acquisition.

The Gym Group – FY21 ended in line with the Board’s expectations with revenue for the year up 31.7% to £106.0 million.

Polymetal International (LON:POLYP) – Announces an initial JORC-compliant Mineral Resource estimate for the Pavlov property of 727K oz of gold. Resource estimate is based on $ 1,500/oz gold price.

Scottish Mortgage Investment Trust (LON:SMT) – Raised a further $400 million (circa £294 million) in long-term, fixed rate, senior, unsecured private placement notes, denominated in US Dollars.

Ibstock (LON:IBST) – Full year revenues expected to increase by 29% on 2020, to £409 million. Adjusted EBITDA expected to be modestly ahead of previous expectations. Commissioning of capital enhancements on track to increase clay network capacity by 5% by mid-2022.

Network International Holdings (LON:NETW) – FY21 total Group revenue of circa $351 million, ahead of consensus. FY21 Group underlying EBITDA also anticipated to be slightly ahead of market expectations.

Kier Group (LON:KIE) – H1 results in line with the board’s expectations. The Group’s order book at 31 December 2021 was circa £8.0 billion, an increase of circa 4% from the year-end position. Remains confident in achieving its medium-term targets.

DS Smith (LON:SMDS) – Announces its commitment to align its global operations to a 1.5°C scenario as set out in the Paris Climate Agreement. To achieve this, DS Smith is accelerating the reduction of carbon emissions for its own operations, as well as those of its partners and suppliers, by committing to reducing its Scope 1, 2 and 3 Green House Gas emissions by 46% on an absolute basis by 2030, compared to 2019 levels.

Superdry PLC (LON:SDRY) – H1 group revenue down 1.9% to £277.2 million. Performance over the peak trading period has given confidence to achieve current market expectations for FY22 adjusted PBT.

N Brown Group (LON:BWNG) – Q3 group revenue down 3.3% to £267.6 million. Strategic brands revenue up 5.5% to £149.0 million. Q3 strategic brands growth was in the context of a softer online home market, resulting in FY22 YTD group revenue of -1.7%, slightly behind previous expectations. Expect to report Adjusted EBITDA between £93-£96 million in FY22, which is at the lower end of previously guided range.

Revolution Bars Group (LON:RBG) – 2-year LFL sales for the period from 19 July 2021 to 1 January 2022 remained positive at +1.4%. LFL sales for the 6 week period ending 1 January were -23% when compared with the same period 2 years ago, the last unaffected Christmas period. Board remains confident of achieving its full year expectations assuming that the Covid landscape does not significantly deteriorate.

Compass Group (LON:CPG), Games Workshop (LON:GAW) and Diploma (LON:DPLM) all go ex-dividend today.

UK pre-market stocks update – GSK, Unilever, Deliveroo, Entain, AB Foods

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