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1. Admiral Group Plc (LON: ADM)
The motor insurance company anticipates higher than expected profits in the first half of 2021. The company’s pretax profits could be in the range of £450 to £500 million because of fewer insurance claims during the lockdown period, which led to the higher reserve release and profit commission revenue. The company also expected to interim dividends in the range of 110 to 125 pence per share.
During the first half of 2021, the company sold Penguin Portals businesses for £460 million. The company expects to return £400 million of the proceeds to its shareholder as special dividends over 2021 and 2022. The final results of the first half of 2021 will be published on 11 August 2021 after the external audit review.
2. Young & Co.'s Brewery Plc (LON:YNGA)
Operator of premium pubs and hotels, Young Plc has recently made an agreement with Punch Pubs & Co to sell 56 tenanted pubs. These pubs are currently operated under the brand name of the Ram Pub company. The pubs are sold for the cash consideration of £53 million.
To create long-term value for its shareholders, the company has decided to move away from the tenanted model and focus solely on freehold managed pubs and hotels. Recently the company had invested £17 million on upgrading freehold managed estates and purchased two new pubs: Enderby House and Alban’s Well.
3. TUI AG (LON:TUI)
The tour and airline business operator has announced that its UK staff can work from the office, just one day in a month. The flexible working hours move by the company is expected to benefit over 10,000 employees across the UK and Ireland. The company aims to make the working environment flexible for its employee and looks to attract new talents.
TUI said that to implement its new flexible working policy, the company will create a new role of workspace director. Its offices will be open for the employee to decide which work environment suits them best.
4. Avast Plc (LON:AVST)
The cybersecurity product developer is in advance talk with US-based NortonLifeLock Inc. for a possible merger. The possible combination of two companies might take place at £5.77 billion and implement by way of a cash and share offer by NortonLifeLock for the entire issued share capital of Avast Plc.
NortonLifeLock Inc. is a leading provider of cybersecurity products for its customers and businesses. The possible merger will bring together two companies with an aligned vision and innovative products for customers and maximize long-term value for shareholders.
5. Cineworld Group Plc (LON:CINE)
The cinema chain operators and owner of the US-based Regal Cinema saw its stock jump in price on Friday after its CEO Mooky Greidinger said in an interview that the US box office opening for Marvel Blockbuster Black Widow last weekend could have been over USD 110 million if movie was not released on Marvel owned OTT platform. The cinema chain stock attracted the interest of investors in a bid to squeeze short-seller positions in a similar manner as happened to fellow cinema chain operator AMC Entertainment Holdings Inc.
Cineworld stock has been under heavy short selling pressure from investment managers because of company’s massive debt of USD 8.3 billion and the shifting trend of movie releases on the streaming platform.
