Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
VRG used 2020 as an opportunity to improve working capital, bring down costs, close loss-making stores, and maximize e-commerce sales. As a result, despite a 79% fall in EBITDA, the Company was able to end the year with a safe level of net debt-to-EBITDA by significantly reducing financial obligations. With better working capital management, VRG unlocked PLN 44m in cash in 2020, mostly working capital tied up in inventories. With these efforts, VRG positioned itself to enter the new fiscal year ...
Since posting disappointing sales figures for March through May, the post-lockdown sales momentum at VRG stores has consistently improved from month to month, supported by a sharp rise on online orders. By July, monthly sales returned to pre-lockdown levels, and with a similarly strong recovery reported in August it looks like VRG might be able to curb this year's profit contraction more effectively than thought, thanks in part to tight cost management. In addition, the Retailer expects to deliv...
Headlines Conferences calendar … 2 Large-cap companies news … 3 JSW: Operating figures for 2Q20 revealed Azoty, PuÅ‚awy, Police: 2Q20 results preview PZU: TUW unit goes in line with sales plan PKN Orlen, Lotos: Green light for the merger with Lotos to be granted today? Utilities: URE refuses G-tariff increase Investment funds: Inflows continue in June Banks: Recovery plans to happen more often Banks: Macroprudential authority lower risk weight for corporate exposures Banks: New EU Cou...
Headlines Conferences calendar … 2 Large-cap companies news … 3 PKN Orlen: Model margins for June revealed JSW: Methane explosion in Budryk mine Cyfrowy Polsat: UOKiK’s consent for takeover of Interia granted Dino: Shops openings in 2Q20 revealed Dino: Mr. Szymon Piduch nominated to supervisory board CD Projekt: We played Cyberpunk 2077 – our hands on impressions: positive, but still much polishing to do PGE: Trade unions plans protests in BeÅ‚chatów and Warsaw Santander BP: Leasing se...
Headlines Conferences calendar … 2 Large-cap companies news … 3 PGNiG: Compensation from Gazprom to arrive on July 1 LPP, CCC, VRG: PFR support Pekao: Supervisory board to select new CRO and head of audit today? Banks: Macro-prudential board on COVID19 related risks Banks: ZBP on banks’ problems Banks: Head of PFR on the banking sector consolidation Banks: Unification of approach to credit risk Funds flows: IZFiA data on mutual funds sales Small- and mid-cap companies news … 6 Eurote...
Headlines Conferences calendar … 2 Large-cap companies news … 3 PGNiG: 1Q20 results revealed; Results in line with the preliminary figures published earlier, total hedging gains amounted to PLN 1.025 billion (not PLN 819 million), stronger than expected cash flows ING BSK: Impact of further interest rate cuts mBank: Insiders acquiring shares in an incentive program Alior: Share sale agreement closed Alior: Press on Ruch restructuring Lotos: Supervisory board accepts PDH project Cyfrowy ...
VRG stock plunged on coronavirus fears and markets opt to overlook the Company's record-high earnings for FY2019 and low ending net debt of 0.6x of EBITDA. With the global retail landscape dramatically changed by the COVID-19 epidemic, we are prompted to revise our base-case earnings scenario for VRG: Assuming the Company can reopen locked down stores in mid-May (VRG itself is holding our for early May), we see a gradual rebuilding of foot traffic from low initial numbers, with fewer overall vis...
Headlines Large-cap companies news PKN Orlen: Model margins for March revealed JSW: Force majeure declared Ciech: Salt project in Germany update CCC: The Company’s management outlook Orange PL: Management on COVID-19 impact Dino: Shops openings in 1Q20 revealed PGE: Management outlook Tauron: Management outlook Pekao: Extended period for credit vacations PZU: Solvency report released ING BSK: AGM voted yesterday Banks: ZBP on further improvements in customers facilities Banks: Cost...
Headlines Large-cap companies news PGE: 4Q19 results released – EBITDA broadly in line with the preliminary showing, bottom line hit by massive write-offs PKN Orlen, Energa: European Commission accepts Energa purchase JSW: 40% drop in coal production recorded LPP: Salaries reduction to PLN 1 Handlowy: New management board member to be responsible for retail banking Santander BP: Management recommendation on retaining profits ING BSK: Donation to health service Alior: New IT infrastructu...
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