Updates from Rolls-Royce, Dixons Carphone and SuperGroup

Updated
savings, tax, stockmarket, pensions, cash, investment FTSE 100, Rolls-Royce, Dixons Carphone, SuperGroup
savings, tax, stockmarket, pensions, cash, investment FTSE 100, Rolls-Royce, Dixons Carphone, SuperGroup

The FTSE 100 clawed back a total 2.4% on Tuesday, up 143.7 points to 6,017.8. BerkeleyGroupHoldings and Schroders saw the biggest climbs, up 5.8% and 5.7% (to 3725p and 2832p) while OldMutual and Sainsbury's saw 5.3% and 5.2% rises (to 166.20p and 249.30p). AngloAmerican suffered again, down 3.4% to 271.10p.

Stateside, the momentum was positive with the Dow climbing 156 points to 17,524.9 with oil stocks gaining: Exxon and Chevron saw 4.4% and 3.8% climbs. Today, all eyes are on Janet Yellen's US interest rate move - the first likely change since mid-2006.

We start this morning with a raft of changes at beleaguered Rolls-Royce whose share price is down almost 38% year-to-date. Two top execs are to go: head of aerospace Tony Wood and Lawrie Haynes, boss of land and sea, will retire.

Sweeping changes at the top mean a layer of management is removed which Rolls-Royce claim will trim operational efficiency. The Civil Aerospace business will comprise of a merged civil large engines and small and medium engines businesses.

"The changes," says chief exec Warren East, "we are announcing today are the first important steps in driving operational excellence and returning Rolls-Royce to its long-term trend of profitable growth."

A squint at Dixons Carphone numbers next: group first half year like-for-like revenues are up 5% and there's a total 23% climb in pre-tax profits to £121m; the interim dividend comes in at 3.25p - a 30% hike.

Statutory profit before tax from continuing operations comes in at £78m (14/15: £71m) after charges of £43m while basic earnings per shares from continuing operations is cut to 4.8p (14/15: 6.6p).

"Against a broadly flat market overall," says chief exec Sebastian James, "and a very strong comparative period we have seen continued like-for-like growth driven by market share gains across all territories."

Lastly, fashion retailer SuperGroup. The Superdry brand controller says group revenue for the 26 weeks to 24 October is up 22.3% to £254.7m (1H15: £208.2m). Retail like-for-like sales climbs 17.2% (1H15: -4.1%).

Underlying basic earnings per share surges to 20p (1H15: 11.9p) while underlying profit before tax gets a 54.4% boost to £19.3m (1H15: £12.5m).

"Whilst comparatives in the second half are more challenging," says the company, "the development of Superdry into a global lifestyle brand is proceeding with pace."

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