Daily Stock Market Report (Tue 1 April 2025) - PEEL, SQZ, SAG, GNC, RNWH, TPK, PINT
Good morning! A special reminder to watch out for false announcements this morning.
Today's Agenda is complete, we think!
Name (Mkt Cap)RNSSummaryOur view (Author)Travis Perkins (LON:TPK) (£1.1bn)Full Year ResultsRev -4.7% to 4,607m, with adj op profit -23% to £152m.Management blame price deflation and lower volumes. Outlook is for adj. operating profit to be “broadly flat” in FY25. This appears to be significantly below previous consensus forecasts.BLACK (AMBER/RED) (Roland)Weak results were aided by some working capital inflows. However, today’s outlook statement appears to equate to a significant cut to previous expectations for FY25. Management believes macro conditions will have to improve to stimulate a recovery – hard to predict right now. In addition, the company is without a CEO, as September’s appointee has resigned due to ill health. I’m inclined to take a mildly negative view at this point as I’m not convinced the shares are especially cheap relative to today’s guidance.Greencore (LON:GNC) (£747m)TUStrong Q2 revenue amp; vol growth, driven by new and existing customers.Good cost control has improved profitability.FY25 adj op profit to be ahead of expectations in the range £112-£115m.GREEN (PINK) (Roland) [no section below]A short but positive...