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“Tesco Appear to be Back on Track, but Could Brooker Deal Stun Recovery?”
Jordan Hiscott, Chief Trader at ayondo markets
“Tesco’s full year earnings are due out tomorrow, with analysts predicting operating profits to come in at £1.2 billion. While this would beat last year’s performance of £944 million, it’s still only a fraction of the £4billion profit they recorded six years ago. Since then, we’ve seen the dual effect of the accounting scandal and negative profit warnings drag the share price to a 14-year low of 137p, leading Warren Buffet, the third largest shareholder, to call his 4.1% stake his ‘worst ever investment’.
“Since then, subsequent board changes and the appointment of a new CEO seem to be producing positive results. Tesco’s share price has moved higher to 195p and profitability has drastically improved. However, there appears to still be trepidation among investors for the supermarket giant, stemming from the recent acquisition of cash and carry specialist Brooker. The £3.7 billion purchase, regarded as an elevated level in some circles, has raised the question among investors – will the deal stun the recovery growth of Tesco going forward?”
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Mastercard, NCR Atleos, and ITCard to Enhance Contactless Experiences at ATMs
Mastercard with NCR Atleos and ITCARD are enabling cash to be securely withdrawn at contactless ATMs
Paytently and Mastercard Partner to Launch Next- Generation Open Banking Payment Solution
Paytently has launched Paytently Open Banking powered by Mastercard Open Finance streamlining payments end-to-end
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botim announced a partnership with the Commercial Bank of Ethiopia to deliver secure, convenient remittance solutions for Ethiopians in the UAE
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Onafriq has partnered with Visa to launch Visa Pay to expand digital financial access across the DRC
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