Earnings of 3 FTSE 250 Listed Companies: C&C Group, SSP Group and Wizz Air Holdings

On the London Stock Exchange, FTSE 250 is one of the most crucial benchmark that indicates the price action trend of the largest 250 companies by the market capitalisation, excluding the top 100 companies that are already included in FTSE 100. That means FTSE 250 Index consists of 101^st to the 350^th largest companies quoted on the LSE.

Due to the coronavirus-induced lockdown in the United Kingdom, FTSE 250 Index fell drastically to 12,829.70 level on March 19, 2020. However, it has gained strength from that level to comeback to 17,897.08 points on June 3, 2020 with high level of volatility over the period. At the time of writing, FTSE 250 index is trading at around 17,854.17 points, decreased by 0.24 per cent as compared to previous day closed price.

Let’s discuss the earnings of three FTSE 250 Index listed stocks: C&C Group Plc, SSP Group Plc and Wizz Air Holdings Plc.

C&C Group Plc (LON:CCR)

• Overview of the Company

C&C Group Plc is a leading producer, dealer and supplier of premium quality branded beer, cider, wine and soft drinks. The company’s brands conquer valued places in the hearts and minds of provincial, nationwide and international drinkers. Its products hold a strong presence in restaurants and hotel industry in Scotland, Ireland and the United Kingdom through the company’s three core brands- Bulmers, Tennent’s and Magners.

• Financial Highlights

The group declared its financial results for the 12 months ended February 29, 2020. It reports:

• The net revenue of the company increased by 7.8 per cent to €1,719.3 million and operating profit increased by 10.4 per cent to €116.4 million for the financial year 2020 compared to the previous corresponding period.
• Adjusted diluted EPS grew by 10.5 per cent to 29.4 cents while Basic EPS has been reported to 2.8 cents, reportedly impacted by extraordinary
• At FY2019 year-end, Net debt/ Adjusted EBITDA decreased from 2.51x to 1.77x.
• The company got the confirmation from the Bank of England that it is qualified to issue commercial paper under the coronavirus Corporate Financing Facility Scheme.
• As at 29th February 2020, the property, plant & equipment increased to €223.4 million as compared to €144.5 million in the prior year.
• As at 29th February 2020, inventory decreased to €145.8 million as compared to €184.1 million in the preceding year.
• The cash of the company also reduced to €123.4 million as at 29th February 2020 versus €144.4 million in the prior year.
• The company holds investment of €10.7 million in Admiral Taverns, growing the estate to more than 1,000 showrooms throughout the England and Wales.
• The lockdown of the hospitality sector has substantially impacted business, with no revenue generated in the on-trade channel since March 2020, as reported by the company.

• Share price Performance – CCR

(Source: Thomson Reuters)

The stock price of C&C Group Plc is trading at GBX 203.0, down by 1.69 per cent, on 04th June 2020 as at 08:22 AM GMT as compared to the previous closing price of GBX 206.50. The company’s one year high/low price stands at GBX 416.50 / GBX 140.60, which were reported on 02^nd January 2020 and 23^rd March 2020, respectively. The shares outstanding of the company have been reported to 310.47 million, and the market capitalisation is reported at GBP 643.56 million as at the end of last trading session on 3 June 2020.

SSP Group Plc (LON:SSPG)

• Overview of the Company

SSP Group Plc (LON:SSPG) is listed under Travel and Leisure industry. The company is a leading operator of food and beverage outlets with over 550 brands designed to respond to the specific demand of passengers as they travel around the world. The company’s footmark connects 35 nations, and in every one of these nations, SSP Group has an on-ground presence and a team of cooking specialists to offer tailored fit food.

• Financial Highlights

The company declared its results for six months’ period ended 31st March 2020.

• Revenue decreased by 2.7 per cent to £1,214.6 million for six months’ period ended 31st March 2020 and 3.7 per cent at actual exchange rates.
• Net gains of the company reported to 5.7 per cent due to North America and Continental Europe.
• Loss before tax reported to £34.3 million under IFRS 16. On a pro forma IAS 17 basis, the underlying loss before tax decreased significantly to £10.7 million (2019: profit of £54.2 million).
• On a pro forma IAS 17 basis, Net debt reported to £457.7 million as compared to £483.4 million at 30th September 2019, reflecting cash impact of the £209.2 million equity issue (net of fees paid) in March 2020.
• Due to severe impact of a novel coronavirus and the subsequent closing of most of the international travel markets during March 2020, group’s like-for-like revenue decreased by 8.4 per cent.
• The company’s operating loss reported to £6.7 million, reflecting an adjustment for the amortisation of acquisition-related intangible assets of £0.9 million.
• The Board of the company decided not to announce an interim dividend (H1 2019: 5.8 pence per share) due to the continuing uncertainly because of the Covid-19 pandemic.

• Share price Performance – SSPG

(Source: Thomson Reuters)

The stock price of SSP Group Plc is trading at GBX 306.80, down by GBX 8.40, on 4th June 2020 as at 08:32 AM GMT as compared to the previous closing price of GBX 315.20. The company’s 52-week high/low price is GBX 725.0 / GBX 136.80, which were reported on 03^rd September 2019 and 19th March 2020, respectively. The shares outstanding of the company have been reported to 533.86 million, and the market capitalisation is reported at GBP 1.68 billion as at the end of last trading session on 3 June 2020.

Wizz Air Holdings Plc (LON:WIZZ)

• Overview of the Company

Wizz Air Holdings Plc is a budget airline company famous across Eastern and Central Europe. It operates a fleet of Airbus A321 and A320 aeroplanes. The company is listed on the London Stock Exchange and trades on the FTSE 250 index under Consumer Discretionary sector.

• Financial Highlights

Wizz Air Holdings declared unaudited results for the full year ended 31^st March 2020. Some key highlights of the result are:

• Underlying net profit increased by 29.9 per cent to €344.8 million, and underlying net profit margin reported to 12.5 per cent during the FY2020.
• At the end of March 2020, the total cash was reported to €1,496.3 million, out of which ~€1.31 billion represents free cash. The company stated that it reflects one of the most robust balance sheets of any European airline.
• Statutory net profit reported to € 281.1 million, and net profit margin reported to 10.2 per cent during the FY2020.
• Fleet expansion included an increase of 9 aircrafts to 121 aircraft at the end of FY20 with more than 47 per cent of seats now available by the more cost-effective A321 type aircraft.
• During FY2020, Wizz Air achieved fifteen years of operation, and an extraordinary breakthrough of 200 million carried travellers.
• Total CASK without including exceptional items improved 1.1 per cent to 3.44 Euro cents in FY20 as compared to 3.40 Euro cents in FY2019.
• The load factor also increased by 0.8 percentage points to 93.6 per cent during the FY2020 versus 92.8 per cent during the FY2019.

• Share price Performance – WIZZ

(Source: Thomson Reuters)

The stock price of Wizz Air Holdings Plc is trading at GBX 3,596.0, down by 1.64 per cent, on 4th June 2020 as at 08:34 AM GMT as compared to the previous closing price of GBX 3,656.0. The company’s one year high/low price is GBX 4,526.0 / GBX 1,500.0, which were reported on 13^th February 2020 and 16th March 2020, respectively. The shares outstanding of the company have been reported to 85.43 million, and the market capitalisation is reported at GBP 3.14 billion as at the end of last trading session on 3 June 2020.