Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on MCCOLL'S RETAIL GROUP PLC. We currently have 4 research reports from 3 professional analysts.
|01Dec16 07:00||RNS||Q4 and Full Year Trading Update|
|11Oct16 04:35||RNS||Price Monitoring Extension|
|22Sep16 10:40||RNS||Director/PDMR Shareholding|
|22Sep16 10:34||RNS||Holding(s) in Company|
|19Sep16 02:49||RNS||Result of Meeting|
|16Sep16 04:35||RNS||Price Monitoring Extension|
|01Sep16 07:00||RNS||Posting of Circular and Notice of General Meeting|
Frequency of research reports
Research reports on
MCCOLL'S RETAIL GROUP PLC
MCCOLL'S RETAIL GROUP PLC
02 Dec 16
"By late Sunday, we should have a good idea whether or not Italian Prime Minister, Matteo Renzi, will be stepping down. The polls suggest his constitutional referendum, which has effectively become a confidence vote on his premiership, will get a 'thumbs down'. No new election is actually required until February 2018, but any attempt to simply replace him with another technocrat leader could well see a public, suffering from implosion of their bad-debt laden banking system, 38% youth unemployment and an inability to stifle giant capital outflows, clamouring for a snap election. This, of course, would open the door for Bepe Grillo's Five Star Movement, whose denouncement of the Euro could, in turn, generate in a wave of similar populist referendum voting across other dissatisfied EU nations, with France's own presidential election, due to take place on 7th May, the headline this morning following Francois Hollande's overnight declaration that he has decided not to stand. The prospect of Eurozone's collapse, however, was not the driver of the US session, which started in the positive following release of strong November Manufacturing ISM data, but waned later as a sell-off amongst tech issues pushed the NASDAQ sharply down, while the Dow Jones managed to hold onto modest gains due to sustained switching into financials, as divergence between the two sectors and the rout in government bond markets since Trump's election continued. Asian shares were lower across the board, with the Nikkei suffering as the Yen found buyers amongst US$ sceptics waiting for flaws in the Trump rally to show through, which dragged the other regional markets with it. With investors now virtually taking a 25bp hike by the Fed later this month for granted, focus this afternoon is likely to centre on the important US employment report, with forecasts in the 180k to 200k range, taking unemployment to 4.8% with a modest rise in hourly earnings of around 0.1%. The UK will also report Construction PMI figures this morning while corporates due to disclose earnings or trading updates include 88 Energy (88E.L), Altona Energy (ANR.L) and Berkeley Group Holdings (BKG.L). Traders meanwhile continue to watch oil futures carefully; although prices moderated during the Asian session, sentiment following OPEC's agreement remains positive with January's light, sweet crude trading a whisker below US$51 on the Mercantile Exchange, as they weigh up expectations on the terms being upheld or the various participants instead deciding to cheat on quotas rather than give up market share to US shale producers. London equities opened in a nervous mood this morning, with the FTSE-100 down over 57 points in early trading." - Barry Gibb, Research Analyst
02 Sep 16
The UK economy provided yesterday's biggest surprises for investors. Manufacturing PMI data recorded its biggest monthly increase in a quarter of a century for August, as production and new orders recovered sharply to a level of 53.3 from the initial post-Brexit shock three-year low of 48.2 recorded in July. Sterling jumped as much as 1.35% to over US$1.33, as the IMF concluded that post-Referendum growth had 'surprised on the upside', while measures taken by the Bank of England to boost expansion would 'support the economy' and cushion part of the negative impact. As a result, London's two principal equity indices moved in opposite directions; the FTSE-100, whose constituents derive over 70% of their earnings internationally, reversed early gains to be knocked by Pound strength, while the more domestically weighted FTSE-250 bounced a similar amount into the positive. Reflecting further on this, and ahead of today's key US jobs data, the FTSE-100 is expected to recover part of yesterday's losses, rising around 16 points during early trading. US equities ended unchanged to fractionally positive yesterday evening, with recent oil prices weakness making energy stocks the session's main casualty; anything significantly stronger than the consensus figure of 185,000 new jobs added during August, taking the unemployment rate to 4.8%, will likely build confidence and raise expectations that the Fed could finally deliver a rate hike later this month. Asian equities had an uneventful session, with the ASX the only notable mover as its energy shares remained under similar pressure. Elsewhere in the region, equities generally trod water waiting for this afternoon's release from the US as traders pondered the extent to which an early hike would suck foreign capital out of its emerging markets, although clearly such a move by year-end will already have been largely priced in. The UK will release UK Market Construction Index data this morning, while this afternoon, the Fed's Jeffrey Lacker may be the first to reflect on the US Jobs data in his scheduled speech. Corporates due to release earnings figures this morning include EMIS Group (EMIS.L), Fyffes (FFY) and Go-Ahead Group (GOG.L).
A “super” market investment
07 Dec 15
McColl’s is the second largest multiple convenience store business in the UK and the largest independent operator of Post Offices. Its growth strategy is focussed around upgrading the store portfolio to higher value, better performing convenience formats. McColl’s is looking to have 1,000 convenience stores by the end of 2016.
Disciplined control of costs
30 Jul 15
In a challenging food retail environment, McColl’s has delivered solid H1 results and reiterated guidance for the year. What strikes us as most impressive in these results is, yet again, the company’s strong focus on cost control. Administrative costs are well under control despite a significant store conversion programme, coupled with the acquisition of new stores and added services. We believe the long-standing management has a good growth strategy in place, and with more of the estate being converted to better-performing formats, like-for-like sales should pick up over time. Hence updated consensus forecasts post the interim results look too low in our view. Valued at a steep discount to the sector and as a main player in the growing UK convenience market, we consider the high dividend yield of 6.2% an added bonus.
Small Cap Breakfast
29 Nov 16
Asia Pacific Investment Partner - the research-driven emerging and frontier markets real estate development business intends to float on AIM and conduct a placing in December RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m Diversified Oil & Gas— Schedule One now out. $60m to be raised. Expected admission 6 December. Creo Medical Group —UK based medical device company focused on surgical endoscopy, a recent development in minimally invasive surgery. Admission due 7 December. Fundraising details TBA.
Argos and broader non-food offer to defend market share
28 Sep 16
Q2 total sales fell by 0.4% and by 1.1% on a lfl basis. The retail business (excluding Argos) generated almost flat sales compared to Q2 15 but was still experiencing a negative trend on a lfl basis. The good news came from Argos’s recovering business, where revenues impressed with 2.8% growth in H1 following a promising Q2. Sainsbury strengthened its network by opening nine new convenience stores and one supermarket. Sales of groceries online showed an 8% increase (in line with last quarter’s) despite the decrease in both customer orders and basket size. The stock lost 3.27% this morning.
On the right track
05 Oct 16
THe Q2 figures witnessed a third consecutive lfl positive growth leading to a H1 16 sales improvement of 1.0% on a lfl basis. H1 sales stood at £24.4bn (£27,338m including fuel) following a promising Q2 (0.9% in the UK and 2.1% for international markets). Tesco’s sales have benefited from the increase in both volume and transactions in all markets. All formats – including the largest and the Extra formats – saw an improving trend in lfl sales performance throughout the half. H1 operating profit came in at £596m, i.e. a 2.2% operating margin and management expects £1.2bn for the whole year. This positive trend in the margin will continue according to management and reach 3.5-4.0% by 2019/20. Net debt decreased to £4,352m but total indebtedness surged by £3,400m with a ballooning pension deficit due to low UK bond yields, in the aftermath of Brexit.
16 Jun 16
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N+1 Singer - Morning Song 01-11-2016
01 Nov 16
T Clarke has uncovered financial irregularities within the accounting function of its DG Robson Mechanical Services subsidiary. From initial investigations it appears that funds in excess of £2.8m have been misappropriated by an employee over a number of years. There is believed to be no impact on the wider T Clarke Group and, if anything, historic results may have been understated by the value of the misappropriated funds. The business operations of DGR were in the process of being transferred to T Clarke’s main London M&E business, where additional control measures are already in place. This process will now be accelerated. Whilst discoveries of this nature are always disappointing, this appears to be an isolated incident, swift action has been taken and it is confirmed that the Group remains on track to meet market expectations for the year. Next scheduled news is the trading update on 17th November.