However, since then, the company has enjoyed a recovery, seeing revenues exceed pre-Covid levels and securing £2.5 billion in new business over the past 12 months. In fact, while management is mindful of inflationary pressures, they believe that they will actually boost new business acquisition as customers look to save money by outsourcing their catering needs. Legal & General is the UK’s largest investment manager of corporate pension schemes and a major global investor, with £1.3 trillion in assets under management globally. As such, the insurer and retirement annuities provider posted a strong set of half-year results in August.
Operating profits rose 8% to £1.2 billion, while cash generation increased by 22% to £1 billion. The risks of loss from investing in CFDs can be substantial and the value of your investments may fluctuate. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how this product works, and whether you can https://xcritical.com/ afford to take the high risk of losing your money. They were hard hit during the spring sell-off due to the outbreak of war in the Ukraine, but have recovered some headway this year. However, they still look undervalued at these levels and may be worth buying as they are still some way off their five-year highs of 306p seen in 2017 – and some analysts think they could rise further.
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The balance sheet also looks strong, with the group reporting a Solvency II coverage ratio3 of 212% at H1 2022, versus 187% at the full-year results in 2021, due to the impact of higher interest rates. Legal and General also delivered a return on equity of 21.3% under IFRS accounting rules (22% in the same period last year). We look at some of the best options available to investors this month. As such, Compass increased its earnings guidance for the full year from around 30% organic revenue growth to around 35% and confirmed forecast operating margins of around 6%. Investments in securities market are subject to market risks; read all the related documents carefully before investing.
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The company is holding a capital markets day on 12th October, which, if it goes well could lead to broker upgrades. Meanwhile, half-year results are due on 9th November ahead of the all-important Christmas trading period. The retailer reports its post-Christmas trading update on 12th January next year. The shares have already had a good run this year and are up 22% to 1800.5p. However, they are still trading below their five-year high of 2094p and are worth buying for their resilient qualities in the coming economic storm. Analysts at Berenberg Bank recently upgraded their price target on Compass Group shares to 2,100p from 2050p.
- However, since then, the company has enjoyed a recovery, seeing revenues exceed pre-Covid levels and securing £2.5 billion in new business over the past 12 months.
- The company is holding a capital markets day on 12th October, which, if it goes well could lead to broker upgrades.
- However, full-year results in May for the year ending 2 April were strong, with pre-tax profits before adjusted items up 30% to £522.9 million (from £403 million in 2020), while revenues grew 6.9% to £10.8 billion.
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- Legal and General also delivered a return on equity of 21.3% under IFRS accounting rules (22% in the same period last year).
Half-year results in May were impressive, with pre-tax profits quadrupling to £632m (from £133m last year) and revenues up 36% to £11.5 billion. Like most retailers, Marks & Spencer is feeling the pinch as energy prices soar, logistics costs rise and inflation hikes bite. However, full-year results in May for the year ending 2 April were strong, with pre-tax profits before adjusted items up 30% to £522.9 million (from £403 million in 2020), while revenues grew 6.9% to £10.8 billion.
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Compass Group has come out of the Covid-19 pandemic as a surprise winner. The contract catering provider was hard hit at the start of the crisis when several major events were cancelled and it was forced to undertake a £2 billion rights issue. While analysts at broker Deutsche Bank Aktiengesellschaft recently cut their price target to 145p from 155p on the shares, there is could still be decent upside potential. Although the share price recovery is unlikely to be immediate and the next year will be tough, the shares look oversold for those who have the patience to wait out the bad times. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.
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