On 27th September 2019, at the time of writing, before the market close, GMT 01:11 pm, NMC Health PLC and Persimmon PLC, were amongst the top gainers on the FTSE 100 index, rising by 5.04 per cent and 3.53 per cent respectively. Fresnillo PLC and Carnival PLC were amongst the top losers on the FTSE 100 index, declining by 3.56 per cent and 2.01 per cent respectively.
NMC Health PLC (LSE: NMC)
Abu Dhabi-based NMC Health PLC (LSE:NMC) is engaged in diverse sectors ranging from healthcare, information technology and trading and is one of the largest private players in the realm of healthcare in the United Arab Emirates and ranks amongst the biggest fertility service providers in the world. The company operates in two segments, namely healthcare and distribution & services.
NMC-Financial highlights for H1 FY19
The top-line performance of the company was in line with the expectations of the management, with revenue in the first half of the year increasing by 32.6% to $1,236 million, against $932 million reported in the corresponding period of the last year. EBITDA of $323.5m (post-IFRS 16) and $276.3m (pre-IFRS16), represented a growth of 22.5% (for pre-IFRS 16), while the EBITDA margin declined by 180 bps, reflecting the increased contribution from several assets that are in early stages of ramp-up and contribution from the low-margin business of Aspen Healthcare. Profit from operations amounted to $228.1 million, against $179.7 million in the prior year, while profit before tax was $140.6 million versus $118.7 million last year. Adjusted net income to equity holders stood at $137.5 million, while net income to equity holders stood at $138.1 million (post-IFRS 16) and $151.0 million (pre-IFRS16). Reflecting reduction in financial leverage and greater operational leverage, EBITDA/net income to equity holder conversion ratio was 55% vs 52% for H1 2018 (pre-IFRS16), while net debt/EBITDA remained flat at 3.4x. Free Cash Flow for the period was $77.8 million.
The company continued to enhance its vertical framework to cater to the local market, which is characterised with a favourability towards a demand for high-quality healthcare access. The healthcare market remains highly predictable, and the company is focused on improving utilisation and efficiencies of existing assets. The company, through both organic and inorganic means, can identify new potential markets and sees many more opportunities for leveraging growth.
NMC-Share price performanceDaily Chart as on 27-September-19, before the market close (Source: Thomson Reuters)
On 27 September 2019, at the time of writing (before the market close, at 02.39 pm GMT), NMC shares were trading at GBX 2,819. Stock's 52 weeks High and Low are GBX 3,764/GBX 1,773.50. The outstanding market capitalisation was around £5.65 billion.
Persimmon PLC (LSE: PSN)
United Kingdom-based Persimmon Plc (LSE:PSN) is a British leading housebuilder. The company develops, builds, and designs residential houses, with offers varying from studio apartments to executive-style family homes. The company is providing a broad range of homes at around 400 locations, through its offsite manufacturing capabilities.
On 7th November 2019, the company will announce its trading performance.
PSN-Financial highlights for H1 FY19
In the first half of 2019, the company sold 7,584 new homes at an average selling price of GBP 216,942 while total revenues for the first half of 2019 reduced by 4.5 per cent to GBP 1,754.0 million as compared to GBP 1,835.8 million in H1 FY18. Underlying gross profit stood at GBP 555.5 million, while total gross margin for the first half of 2019 stood at 31.7 per cent versus 30.8 per cent in H1 FY18. For the first half of 2019, operating profit was GBP 506 million as compared to GBP 513.8 million in the same period in 2018.
Underlying basic earnings per share reduced by 4.2 per cent to 130.6 pence in H1 FY19 against the 136.3 pence in H1 FY18, while total basic earnings per share reduced to 129.3 pence in H1 FY19 from 134.9 pence in H1 2018. On 30th June 2019, underlying return on average capital employed was 40.5 per cent, and return on equity stood at 31.0 per cent for the first half of 2019.
The homebuilders in the UK are going through a tough time due to weakening UK construction market, which was reflected in the drop in H1 revenue of the second-largest homebuilder in the UK. Hit by uncertainties over the exit from the European Union, building materials supplier SIG gave another warning for the construction industry and according to the latest PMI data, the construction industry in Britain had its worst month in June since the 2009 recession. Customer confidence persists with low-interest rates, a competitive mortgage market, and high levels of employment.
For the year to date, the company’s average weekly private sales rate per site was 0.72, which is in line with the group’s expectations. The company proposes to begin construction on 85 new outlets during the second half of 2019 to refresh and support the site network. The company’s selling price will remain firm.
PSN-Share price performance
Daily Chart as on 27-September-19, before the market close (Source: Thomson Reuters)
On 27 September 2019, at the time of writing (before the market close, at 02.38 pm GMT), PSN shares were trading at GBX 2,152. Stock's 52 weeks High and Low are GBX 2,495.43/GBX 1,802.50. The outstanding market capitalisation was around £6.60 billion.
Fresnillo PLC (LSE: FRES)
Fresnillo Plc (LSE:FRES) is a Mexico-based precious metal group, which provides mining and exploration services. The group has seven operating mines - all of them in Mexico - along with other development and exploration projects. It develops high potential silver and gold projects into low-cost, world-class mines, with business model spanning the full mining value chain from exploration, construction and development, to mining operations. The company primarily serves customers in the United Kingdom and Mexico. Fresnillo paid its shareholders an interim dividend on 6th September 2019.
FRES-Financial highlights for H1 FY19
Due to lower ore grades at the Fresnillo and Saucito mines and lower volumes of ore processed, silver production in the first half decreased by 10.4 per cent versus 1H18 to 27.6 moz. As a result of a decrease in the volume of ore processed at Noche Buena, first-half gold production declined by 7.1 per cent against 1H18 to 432 koz. Reflecting lower metal prices, excluding gold, and lower volumes of gold and silver sold, adjusted revenues decreased by 10.2 per cent to $1,069 million in 1H19. While the average realised gold price remained flat at $1,320.7 in 1H19, the average realised silver price declined by 7.5 per cent to $15.2 per ounce in 1H19 from $16.5 per ounce in 1H18. As adjusted production costs rose by 31.8 per cent to $566.4 million in 1H19, cost of sales of $796.5 million rose by 30.0 per cent over 1H18, which resulted in a 59.1 per cent decline in gross profit to $205.5 million. Due to the intensive exploration programme was undertaken by the company, exploration expenses rose by 7.3 per cent over 1H18 to $84.0 million. EBITDA declined by 45.7 per cent to $307.9 million, reflecting higher exploration expenses and a decrease in gross profit. Profit from continuing operations before income tax declined by 83.3 per cent to $54.1 million in the first half of the year from $323.0 million in the corresponding period last year, while net profit for the period decreased by 69.1 per cent from $229.3 million in 1H18 to $70.9 million in 1H19. Adjusted earnings per share of $8.4 cents per share were down by 74.8 per cent, and basic and diluted earnings per share from continuing operations were down by 69.4 per cent to $9.5 cents per share.
The company reported that its exploration programme continued to produce good results and has the potential to contribute to the future value of the group significantly. The profitability of the group was adversely impacted during the period because of higher costs and challenges at its Fresnillo, Saucito and Herradura mines.
FRES-Share price performanceDaily Chart as on 27-September-19, before the market close (Source: Thomson Reuters)
On 27 September 2019, at the time of writing (before the market close, at 02.42 pm GMT), FRES shares were trading at GBX 706.60. Stock's 52 weeks High and Low are GBX 1,028/GBX 570. The outstanding market capitalisation was around £5.38 billion.
Carnival PLC (LSE: CCL)
Carnival Plc (LSE:CCL) is a leisure travel group that operates in Europe, Asia, North America, and Australia. The company split its business activities into four operating segments. Carnival Cruise Line, Holland America Line, Seabourn, Costa, and AIDA are few of the brand name that operates under Carnival Plc. The company had a total of 102 ships visiting over 700 ports globally. The company is having an employee base of over 120,000 people catering to the needs of 11.5 million guests per year. On 11th July 2019, the Carnival Plc declared a dividend of $0.50 per share quarterly. The record date for the dividend as approved by the board was 23rd August 2019 and 13th September 2019 as payment date.
CCL-Financial highlights for Q3 FY19 period ended 31st August 2019
The company’s revenue was recorded at $ 6,533 million in Q3 FY19 as against $ 5,836 million in Q3 FY18. The company’s operating income stood at $ 1,890 million in Q3 FY19 as against $ 1,794 million in Q3 FY18. The company’s net income stood at $ 1,780 million in Q3 FY19 as against $ 1,707 million in Q3 FY18. The company’s basic earnings per share stood at $ 2.58 in Q3 FY19 as against $2.42 in Q3 FY18. The company’s diluted earnings per share stood at $ 2.58 in Q3 FY19 as against $2.41 in Q3 FY18. The company had cash balances of $ 1,153 million as at 31st August 2019.
CCL-Share price performanceDaily Chart as on 27-September-19, before the market close (Source: Thomson Reuters)
On 27 September 2019, at the time of writing (before the market close, at 02.43 pm GMT), CCL shares were trading at GBX 3,320. Stock's 52 weeks High and Low are GBX 5,030/GBX 3,293. The outstanding market capitalisation was around £24.23 billion.
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