Daily Banking News
$42.39
-0.38%
$164.24
-0.07%
$60.78
+0.07%
$32.38
+1.31%
$260.02
+0.21%
$372.02
+0.18%
$78.71
-0.06%
$103.99
-0.51%
$76.53
+1.19%
$2.81
-0.71%
$20.46
+0.34%
$72.10
+0.28%
$67.30
+0.42%

Laggard WM Morrison Supermarkets PLC gets in first, investors in for a Treatt PLC


() remains the laggard of the big four supermarkets in terms of market share and is looking over its shoulder at .

It has, however, made a decent fist of things in 2021 with the latest industry data showing sales in the 12 weeks to April 19 up 7.2% year-on-year, meaning its market share rose 0.1 percentage points to 10.0%, a couple of points ahead of .

Tuesday’s first-quarter trading update, therefore, could be a cheery one, coming just a few weeks after industry rivals Tesco and Sainsbury announced their annual numbers and not long after saying itself that the new year had started with “strong trading and operational gearing momentum, and further productivity and cost efficiency opportunities”.

Analysts have pencilled in a figure of 1.6% for year-on-year like-for-like sales growth for the Bradford-based grocer’s first quarter.

Morrisons was a late mover into the online sector but has taken a couple of short-cuts with its hook-ups with Ocado and Amazon and the market will be keen for news on how these relationships are developing.

This year, it said last month, its profits should bounce back as trading returns to normal, with fewer direct coronavirus-related costs and restrictions such as café closures.

In for a Treatt?

Many of the edible products on Morrisons shelves will have ingredients supplied by another company reporting on Tuesday, Treatt PLC ().

A supplier of food flavours such as essential oils, citrus juices and natural sweeteners, the main market-listed company will be putting out half-year results that follow a trading update that showed half-year sales up 14% to £60.8mln, and would have been even stronger if not for currency swings.

On top of that, gross margins improved due to a change in product mix and growth in higher added-value citrus ingredients.

As a result, Treatt’s underlying profits should be up around 40% to £8.9mln, said house broker Peel Hunt.

“The company is well-positioned to benefit from mega trends (eg natural, health, sugar reduction, clean label) and is also completing the capex programme, which doubles capacity and brings material efficiency savings.”

Significant events expected on Tuesday May 11:

Trading announcements: ()

Finals: ()

Interims: Treatt PLC ()

Economic data: BRC retail sales



Read More: Laggard WM Morrison Supermarkets PLC gets in first, investors in for a Treatt PLC

Get real time updates directly on you device, subscribe now.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.