Hints and tips:
...This aggressive mark down came in the form of ERVs -12% l-f-l and yields expanding +17bps....
...L-f-l rents down 27%: net rental income fell down to just £87.3m which represents a l-f-l fall of 27% (excluding premium outlets), as a result of covid and the reduced rent collection rate....
...I mean, the World Bank is saying that we might need over 3bn b tonnes of new metal to achieve the 2-degree C future. But where's all this copper, cobalt going to come from?...
...at the ‘C-suite’....
...The u/l WC outflow was £16.6m vs £3.9m last year, DSOs increased to 65 days (from 56) as an unwind in receivables was offset by higher accrued income (£57m from £51m at y/e, despite declining sales); the...
...According to Bloomberg, consensus is currently forecasting PBT of c£185m (giving EPS of c6.9p) in FY 2020/21 and c.£340m (12.7p) in FY 2021/22....
...Note also that Vodafone has full-year results on Tuesday so we’ll get to talk hypothetically about convergence all over again....
...Here’s Investec (sell) to summarise: [L]ockdowns are impacting consumption in North America (c. 30% of sales), Europe (c. 20% of sales), India (c. 10% of sales), Africa (12% of sales) and many countries...
...Against the general trend, yesterday Ferrari confidently guided to a V-shaped recovery in its P&L from H2/20....
...Credit insurers would be affected by an increase of defaults on payments of receivables caused by supply-chain disruption (among other factors)....
...The group also described trade receivables — amounts recorded as sales but not yet collected from customers — of £560m, about £470m of which appeared to relate to the legal business....
...That doesn’t necessarily mean [regulatory] convergence,” Mr Jeffery says. Working out precisely where to draw the line will require judgment from Mr Jeffery in coming months....
...THE WORLD IS FLAT by Thomas L....
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