Several brokers had expected an update from THG PLC (LSE:THG) aka the Hut Group, in the past week but it never arrived.
Full-year results are now expected on Thursday 21 April, the company later announced.
Management will be keen to repair its reputation after getting on the wrong side of the City, which has grown impatient for the online retail platform to unlock the supposed power of its technology.
The beleaguered group recently appointed ex-ITV head Charles Allen as its new chairman and has generally made a raft of other improvements to the group’s corporate governance structures over the last year in an attempt to placate investors.
Allen’s task is to develop the management team and refine the group’s strategy but it is probably too soon to expect any big announcement on strategy.
Meggitt PLC (LSE:MGGT) last year was in the news as the defence contractor received a £6.3bn bid from US peer Parker Hannifin.
As Meggitt makes parts for civilian and military aircraft, including the US F-35 fighter jet, the US company’s move has raised questions as to foreign involvement in UK companies involved connected to UK national security.
“The deal appears to be currently being held up by conversations with the UK government over assurances on keeping jobs in the UK,” said Michael Hewson at CMC Markets.
“Historically these types of pledges have proved to be largely worthless and while Meggitt shareholders may be in favour of the deal, there is also a chance it might get blocked by the Competition and Markets Authority (CMA), after the deal was referred by the business secretary in October last year.”
As for the financials, Meggitt’s latest results showed a swing to pre-tax profits of £31.3mln in 2021 from losses of £334mln in 2020, even though revenues fell.
Also, watch out for subscriber numbers at wealth manager platform AJ Bell tomorrow.
Thursday 21 April 2022
Finals: Bonhill Group PLC (LSE:BONH), Churchill China (AIM:CHH) PLC, LBG Media Ltd, Safestyle UK PLC (AIM:SFE), Serica Energy Plc (AIM:SQZ)
Trading announcements: AJ Bell PLC (LSE:AJB), BHP Group Ltd, DP Poland PLC (AIM:DPP) , Meggit PLC, PensionBee Group PLC (LSE:PBEE), RELX PLC (LSE:REL), Rentokil Initial PLC (LSE:RTO) , Segro PLC
AGMs: Alliance Trust PLC (LSE:ATST), Ibstock PLC (LSE:IBST) , Journeo PLC (AIM:JNEO) , RELX PLC, Senior PLC (LSE:SNR), STV Group Plc (LSE:STVG)
Economic Data: Continuing Claims (US), Initial Jobless Claims (US), Philadelphia Fed Index (US)