Jan 26, 2021

Rolls-Royce warns travel restrictions are putting a squeeze on cash

The company stuck with a forecast to turn cash flow positive during the second half of the year. The housebuilder reported an adjusted profit before tax for its fiscal year ending October of £45.9m, down 62 per cent on the previous year but slightly ahead of its previous guidance. The company said group revenue is currently 20 per cent below prior year levels on lockdown restrictions, with food-to-go down 35 per cent and convenience products holding steady. Cash burn in its travel business for the second half was towards lower end of previous guidance of £6m to £8m per month, Saga said. Half-year results from the maker of Imperial Leather soap showed sales growth from continuing operations of 10.2 per cent to £312.9m. Underlying adjusted profit for the six months ended November rose 16.4 per cent to £27m. Irn Bru maker AG Barr said revenue for the year ended January 24 will be marginally ahead of previous guidance at £227m, versus £255.7m in the previous year.

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