Ones to Watch : Charts n Catalysts Beeks BKS- TU &Contract Win: OXB Reversal Play : DOTD Chart & TU Sets Up for BO : EEE Update & Chart Set-up to resume uptrend
Beeks has been on a rip since the Jan breakout - strong results and another contract win likely to help maintain mom - RNS here
FINANCIAL HIGHLIGHTS
£ million (unless otherwise stated)
FY23
FY22
Change
Group revenue
2,203.8
2,139.2
3.0%
Like-for-like revenue1
2,214.2
2,103.2
5.3%
Adjusted operating profit1
94.3
89.4
5.5%
Adjusted operating profit margin1
4.3%
4.2%
10bps
Operating profit
97.1
37.8
156.9%
Basic earnings per share
9.4p
2.2p
7.2p
Adjusted earnings per share1
8.8p
9.5p
(0.7p)
Free cash flow1
103.2
53.4
49.8
Operational net debt1
(229.6)
(284.9)
55.3
Total dividend per share
7.28p
6.93p
5.0%
Strong financial performance; profit ahead of expectations and leverage reduced
· Like for like revenue up 5.3% driven by price, as well as volume recovery in China
· Reported revenue up 3.0% which is adjusted for the impact of currency and the 53rd week in FY22
· Adjusted operating profit of £94.3m, up 5.5%, and ahead of market expectations2
· Free cash flow of £103.2m, up £49.8m on prior year, has funded an increase in dividend and allowed us to reduce debt
· Net debt down by £55.3m has reduced leverage by 0.4 turns to lower end of target range at 1.5x
· Total dividend per share up 5% on prior year, reflecting strong performance and confident outlook
Oxford Biomedica sets up for a reversal on a positive OXB TU -See RNS
Dotdigita
DOTD chart sets up for a breakout with positive TU See RNS
Empire Metals EEE on updated metallurgical assessment and titanium estimates - see RNS Chart is set up to resume north after a period of consolidation
Pre Market- Gold Makes another Huge Move: Oil stalls at $84 : Copper at top of channel: Retail Sales a Miss
Gold made another major move to blast through the $2100 level - see chart- this has helped to further lift the precious metal miners as highlighted in the weekly wrap with HOC making the breakout through the 50MA as suggested adding 6% yesterday
I'd expect some backing and filling from this second major move however given the strength of the breakout this looks set to continue further which should lift the miners even more
The other precious group metals , platinum, palladium also rallied though remain weak and in a downtrend
Gold making a second major move to clear $2100
The outcome of the OPEC+ meeting which extended production cuts and included surprise cuts by Russia initially resulted in firmer oil prices however Brent crude is still struggling to break through the $84 level this suggests we may indeed remain range bound for now
Oil continues to struggle at the $84 level of resistance despite production cuts
Copper rallies to top of channel
In the overnight, BRC data shows a miss in retail sales - see calendar - 15 versus expected 1.6%
