Home » News and Views » Corporate news review Friday 15th September 2017

Corporate news review Friday 15th September 2017

Image result for aviva logoAviva AV. has completed the sale of its 50% shareholding in life insurance and pension joint ventures Unicorp Vida and Caja España Vida, as well as its retail life insurance business Aviva Vida y Pensiones, to Santalucía. Total consideration of the transaction is €475m (£424m).

Image result for avon rubber logoAvon Rubber AVON issues a pre-close trading update ahead of its year end close on 30 Sept 2017. Trading in the second half has been good across the Group and Avon expects FY adjusted PBT to be in line with current market expectations, with continuing strong cash generation.

Image result for Edenville Energy logoEdenville Energy EDL reports interims. CEO Rufus Short said: “The first half of 2017 was an extremely busy and transformational period for the Company. Having raised funds in February to start production, we have been able to rapidly put in place the required infrastructure and are seeing strong demand for our coal.”The remainder of 2017 is expected to be equally busy and we look forward to providing updates as matters progress.”.

Image result for Purplebricks Group logoPurplebricks Group PURP announces that it is formally launching its business in the US later today. In line with the region by region rollout successfully adopted for entry in the UK and Australian markets, the US launch will commence in Los Angeles, before extending across the state of California and other targeted key states thereafter.

Image result for jd wetherspoon logoWetherspoon (JD) JDW publishes FY results, revealing LfL sales up 4%, revenues up 4.1% at £1.66bn, and PBT up 27.6% at £102.8m. EPS rocketed 43.3% to 69.2p and the group maintained its FY dividend at 12.0p. Since the year end, Wetherspoon’s LfL sales have continued to be encouraging and have increased by 6.1%. CEO Tim Martin believes that comparisons will become more stretching as the year progresses, and sales, which were very strong in the summer holidays, are likely to return to more modest levels.

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