Auto Trader Group PLC (LON: AUTO) have lifted their dividends to shareholders after reporting profit gains in their first half update. Auto Trader were quick to reassure investors for future outlook by saying that the firm remains confident in meeting growth expectations for financial 2020 despite ongoing market uncertainty. It has been a busy few weeks in the automotive industry, with many firms making moves in order to streamline costs and boost demand amid a slow market production period. Last week it was reported that Peugeot (EPA: UG) and Fiat Chrysler (NYSE: FCAU) had finalized a merger move that would make them the fifth biggest car producer in the world. Additionally, despite a tough trading climate and slow production levels, Nissan (TYO: 7201) held faith in the UK market by moving their Juke manufacturing operations to their Sunderland plant. For the six months to September 30, Auto Trader recorded a 12% rise in pretax profit to £127.7 million from £114.5 million a year ago, on revenue of £186.7 million, up 6% on £176.8 million a year prior. Operating profit grew 9% to GBP131.4 million, with margins rising to 70% from 68%. “We have had a good first half and have seen an even greater number of car retailers opting to partner with Auto Trader to access our growing consumer audience,” said Chief Executive Trevor Mather. “Despite ongoing market uncertainty, the board is confident of meeting its growth expectations for the year,” Mather added. The online automotive marketplace said average revenue per retailer per month rose 7% year-on-year to £1,951 in the first half from £1,826, which showed good progress for the car retailer. Platform visits per month increased by 4% to 51.2 million in the interim period from 49.3 million a year ago. At a time where there appears to be a global slowdown in the automotive industry, these results will come as a relief to shareholders. The fact that seniority at Auto Trader were quick to give a positive outlook for the next six months will for now suffice shareholder appetite, but further scrutiny will be expected in their next update. It will be interesting to see how the new mergers formed will affect competition in the car retailers sector, but for now that Auto Trader can be pleased with the results published. Auto Trader has increased its interim dividend to 2.4p per share from 2.1p. Shares of Auto Trader were 3.17% to the good, and are trading at 566p per share. 7/11/19 10:52BST.

Works co uk PLC (LON: WRKS) have warned their shareholders about their next trading update statistics, alluding to lower profit levels, which has caused their shares to crash. There hasn’t been much positivity to report for the high street retailer, as the cut-price gifts, arts, toys and books seller warned shareholders about poor business performance in tough economic and political conditions. Recent like-for-like sales haven’t improved as much as hoped. Management have also been skeptical about Christmas trading, saying that expectations will be hard to fulfill in the busy trading period. The Works warned warned that full year pre-tax profits are expected to come in ‘significantly below’ the current consensus of £7.3 million. Chief executive Kevin Keaney bemoaned a consumer environment that ‘has remained challenging’, explaining that The Works has been ‘trading against strong comparators’ following last year’s Squishies ‘Mega Trend’ Keaney insisted The Works has ‘responded decisively to minimise the impact to our performance and are benefiting from easier comparators in the second half’. He is looking ahead to the busy Christmas period ‘fully prepared and ready to deliver for our customers with a fantastic selection of good quality and great value products. During the six month period, ending in October total revenue rose 5.4%, although even stripping out the impact of last year’s Squishies fad, like-for-like sales were down 1.9%. The British High street has been suffering for a number of years now, as many established retailers struggle to stimulate business amid tough market conditions. Established retailers such as Mothercare (LON: MTC) have recently entered administration, whilst Thomas Cook (LON:TCG) collapsed only a few weeks back. Additionally, it was announced that Marks and Spencer (LON: MKS) would shut as many as 120 high street stores to save costs amid periods of slumping business. While like-for-like sales have improved in recent weeks, they weren’t at a level previously hoped for by management and the full year performance depends on how the business trades over the next six weeks in the run up to Christmas.

Sainsbury’s (LON:SBRY) revealed a decline in profits on Thursday in its half year results. Shares in the supermarket chain were up during trading on Thursday morning. Sainsbury’s said that, for the 28 weeks to 21 September, underlying profit before tax declined by 15% to £238 million, compared to the £279 million figure recorded for the same period the year prior. It blamed the combined impacts of the phasing of cost savings, higher marketing costs and tough weather comparatives for the drop in profits. Retail sales (excluding fuel) were down 0.6% and like-for-like sales (excluding fuel) were down 1%. Earlier this year in April, Sainsbury’s £7.3 billion takeover of Asda (NYSE:WMT) was blocked by the Competition and Markets Authority because it would have created a “poorer overall shopping experience”. The supermarket chain also revealed at the end of September that it will be closing many stores and opening new ones. Sainsbury’s warned in its half year results that consumer outlook “remains uncertain”. “We expect profits in the second half to benefit from the annualisation of last year’s colleague wage increase and a normalisation of marketing costs and weather comparatives,” Sainsbury’s, reiterating its September guidance. “We have created positive momentum across the business through strategic investments in our customer offer,” Mike Coupe, Chief Executive, commented on the results. “We have lowered prices on every day food and groceries, launched a range of value brands and are more competitive on price than we have ever been. We are investing in hundreds of Sainsbury’s and Argos stores, introducing new products and services and continually improving service and availability. As a result, customer satisfaction has increased significantly year on year,” Mike Coupe continued. The Chief Executive said: “We have set out our plan to create one multi brand, multi-channel business. This will make the combined Sainsbury’s and Argos offer much more accessible for customers and gives us the opportunity to make our business more efficient.” J Sainsbury plc shares (LON:SBRY) were trading at +0.15% as of 10:21 GMT Thursday.

Taylor Morrison Home Corp (NYSE: TMHC) have agreed to buy smaller rival William Lyon Homes (NYSE: WLH), which will create the fifth biggest home builder in the United States. The offer of $21.45 per share represents a premium of 16.7% to William Lyon’s Tuesday close and is valued at $2.4 billion including debt. Following the finalization of the deal, Taylor Morrison said its stockholders will own about 77% of the combined company. William Lyon shareholders will hold the remaining interest. The deal is expected to close in the first half of 2020. This merger deal will benefit both parties greatly as it will give regional expansion to local markets in the home building sector. California based William Lyon will benefit from expansion into Scotsdale, Arizona-based Taylor Morrison’s reach into Washington, Oregon and Nevada. “We’ve long aspired to be in the Pacific Northwest and have looked for the right point of entry at the right time and at the right price—and that’s exactly what this represents,” Taylor Morrison Chief Executive Officer Sheryl Palmer said. Citigroup (NYSE: C) Global Markets Inc was Taylor Morrison’s financial adviser, while Paul, Weiss, Rifkind, Wharton and Garrison LLP was its legal counsel. J.P. Morgan (NYSEARCA: AMJ) Securities LLC was the financial adviser to William Lyon Homes, and Latham and Watkins, LLP acted as its legal counsel. The merger will give William Lyon a huge platform to expand into the US home building market with much market space left to be captivated. Competitors such as Lennar Corporation (NYSE: LEN) was reported the biggest US home builder last year, whilst D. R. Horton Inc (NYSE: DHI) followed having published revenues of $18.8 million and $15.7 respectively. The new home building titan produced from this move should provide stiff competition for the market leaders. Shares of have climbed 0.054% as a result of this move, as shares currently trade at $18.40. 6/11/19 14:27BST. Additionally, shares of Taylor Morrison have spiked 0.042% to trade at $23 per share. 6/11/19 14:27BST.

Tyman Plc (LON: TYMN) have released their trading update for investors and shareholders, with reported improving performance in financial 2019 despite tough market conditions, alluding to Brexit complications. The tough market conditions have seen the UK manufacturing sector shrink, looking its weakest since 2009 which Tyman referenced for the slips earlier in the year. The engineered components supplier said revenue and adjusted operating profit for the full year are expected to be ahead of 2018 and in line with current market expectations, which will suffice shareholders. The improved performance was helped by contributions from last year’s acquisitions and the strength of the dollar against sterling. Tyman highlighted that the growth was achieved despite its markets remaining “challenging”, with European and UK markets having weakened further since the end of July. Tyman also reported about North American operations, which remained broadly flat with no clear indication as to when markets would return to higher activity. “Whilst our main markets remain challenging, we are pleased with the progress being made in our operational performance in North America, with both customer service levels and productivity showing an improving trend,” said Chief Executive Jo Hallas. The FTSE All Share (INDEXFTSE: ASX) listed company said that European and UK markets had weakened its performance since half year results were published. Tyman is one of many British firms that have alluded to tough market conditions being a dampener on business. The British industry has seen many firms struggle such as Dunelm (LON: DNLM), and Links of London. Whilst firms such as Tyman fight to stay afloat in these testing waters, some firms have sunk following crisis’ business performance. Giants such as Thomas Cook (LON:TCG) and more recently Mothercare (LON: MTC) have joined a long list of British firm departures from the high street. Shares of Tyman have jumped 8.96% since the announcement, and shares are currently trading at 225p per share. 6/11/19 13:39BST.

Virgin Mobile Operations (NYSE: SPCE) have ended a contract with BT (LON: BT.A) to pursue a new partnership with Vodafone (LON: VOD) in running its mobile network infrastructure. Only a few days ago, Vodafone had announced structural changes to their global business operations, and this new deal will be pleasing for senior management as Virgin leave a major competitor in BT. The partnership between BT and Virgin Media had lasted over two decades and the change that Virgin media made shows a signal of intent in a highly competitive technology market. Virgin Media will release their new 5G network in the coming months, which will be supported by Vodafone’s mobile infrastructure network. Rivals such as O2 (NASDAQ: OIIM) have formed partnerships with EVR Holdings (LON: EVRH) to launch their new 5G mobile network. The deal between BT and Virgin is set to end in late 2021, and future planning has been made by Virgin to ensure that they continue to deliver quality and exceptional service to their global customer base. Full Virgin Mobile services will start to move across to the Vodafone network from then, but Virgin Mobile 5G products will launch on Vodafone in the “near future”, the companies said. The deal is set to affect more than three million mobile customers, and could have mutual benefits in both companies for existing and new customers. The new Mobile Virtual Network Operator (MVNO) agreement will see Vodafone supply wholesale mobile network services, including voice and data, to Virgin Mobile and Virgin Media Business. Virgin Media chief executive Lutz Schuler said: “This agreement with Vodafone will bring a host of fantastic benefits and experiences to our customers, including 5G services in the near future. “Twenty years ago Virgin Mobile became the world’s first virtual operator and this new agreement builds on that heritage. It will open up a whole new world of opportunity for Virgin Media as we focus on becoming the most recommended brand for customers and bring our mobile and broadband connectivity closer together in one package for one price. “We’ve worked with BT to provide mobile services for many years and will continue to work together in a number of areas. We want our customers to have a limitless experience – it’s now the right time to take a leap forward with Vodafone to grow further and faster.” Vodafone UK chief executive Nick Jeffery said: “We are delighted that Virgin has recognised the huge investments we’ve made, and continue to make, in building the UK’s best mobile network and our role in challenging the market with new commercial services. As a result, they have chosen us to work with them in the next phase of their development. “This is an exciting deal between two great British brands. We are combining our strong heritage in innovation to create a world without limits for our customers through unlimited data offers and 5G.”

Sound Energy PLC (LON: SOU) have announced that they have reached a deal with an unnamed UK company to sell the majority of their eastern Morocco portfolio stake. The deal will be valued at $112.8 million as highlighted in the investor update on Wednesday morning. Back in May, the Moroccan-focused gas company has decided to explore monetisation options for its interests in the Tendrara production concession, the Greater Tendrara petroleum agreement and the Anoual permits, with a view to assessing a sale of this eastern Morocco portfolio prior to a final investment decision. The last 12 months have been very mixed for Sound Energy, and shares have been volatile. Less than a year go, shares sunk in December to a 52 week low, but since then recovery has been made which will appease shareholders. In the mining and gas industry there have been disruptions as the more established names have been hit by lower profits, showing global supply and operational issues. Last week, it was reported that Shell’s (LON: RDSB) profits had sunk due to low oil prices. Competitors such as SABIC (TADAWUL: 2010) reported an impairment loss of $400 million, and Total SA (LON: TTA) to report slower profits as profits fell 15% in the third quarter update. Sound Energy have reported that the announcement was made to sell its Moroccan portfolio, the company has since entered into non-disclosure agreements with 23 companies and which resulted in the company receiving a number of non-binding offers. In the Wednesday update, Sound Energy said it has granted an unnamed purchaser an exclusivity period, expiring on February 14 next year. This was to finalise a binding sale & purchase agreement for 51% of Sound Energy’s stake in the eastern Morocco portfolio for $112.8 million. “The proposed transaction being progressed on an exclusive basis funds development of the Tendrara project, provides early monetisation of a substantial part of our established gas resources and retains upside for our shareholders through both future gas production and further exploration drilling,” said Chair Simon Davies. The company said it will also provide the undisclosed purchaser with a one-year option to acquire a further 9% of Sound Energy’s remaining interest in eastern Morocco portfolio.

Apax Global Alpha Ltd (LON: APAX) reported a strong third quarter performance in their recent trading update, after growth came from a blooming performance from its private equity portfolio. The company, which invests in private equity and derived investments, reported a total net asset value return of 4.9% for the three months ended September 30. This compared to a 1.8% total return in the same period of 2018, which would have been pleasing for shareholders. Of the 4.9% total NAV return, 3.1% came from private equity, 0.6% from derived debt, and 2.3% from foreign exchange. Derived equity deducted 0.6% from total NAV return, while costs & other movements deducted 0.3% and performance fee adjustment subtracted a further 0.2% Apax Partners Chief Operating Officer Ralf Gruss said: “The results for the September quarter reflect the continued momentum of [Apax Global Alpha] seen throughout the year. Excellent performance in private equity reflects mainly value creation from the Apax VIII and Apax IX fund portfolio companies. Returns from derived debt were strong, and weighting of derived equity in the portfolio was further reduced.” In the last 12 months trading to September 30, total return was 18% which Apax Global Alpha attributed to the strong performance of its private equity portfolio and gains on foreign exchange. In 2018, the 12 month figure for total NAV return to September 30 was 12%. The investor’s adjusted net asset value was €1.06 billion, up from €1.03 billion on June 30 and €937.3 million year-on-year. Adjusted NAV excludes Apax Global Alpha’s €4.6 million performance fee reserve on September 30. Adjusted NAV per share was €2.15, rising from €1.91 a year before and from €2.10 at the end of June, showing strong performance from the second quarter update. As a result, the share price of Apax Global Alpha reached a new yearly high. The stock has a market capitalization of $809.33 million and a PE ratio of 8.49. The firm’s fifty day moving average price is GBX 158.41 and its two-hundred day moving average price is GBX 141.19. Shares of Global Apax Alpha are currently trading at 165p per share. 6/11/19 11:51BST.