Premarket London: Greggs Raises Profit Guidance; Rightmove Loses CFO

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© Reuters. © Reuters. — Here is a summary of regulatory news releases from the London Stock Exchange on Monday, 11th November. Please refresh for updates.

  • restaurant chain Greggs (LON:) raised its guidance for full-year pretax profit (before exceptional charges), without giving much else away. It said trading performance “has continued to be very strong, despite the strengthening comparators seen in 2018.” In the six weeks to 9 November 2019, total sales grew by 12.4% and like-for-like sales in company-managed shops increased by 8.3%, up from 4% a year earlier.
  • It noted increased customer visits and and “well controlled” operational costs.
  • In the year-to-date, total sales have grown by 13.4 per cent and like-for-like sales have increased by 9.2 per cent.
  • Online estate agent Rightmove (LON:) said its chief financial officer Robyn Perriss is to step down as chief financial officer, probably during the second quarter of 2020. She’ll stay on until then while the company looks for a successor
    • Russian-focused gold miner Polymetal (LON:) raised its assessment of gold reserves at its flagship mine Kyzyl by 18% to 8.5 million troy ounces. That equates to 41.7 million tons of ore at an average grade of 6.3 grams a ton.
    • Just under half of the reserves, 4.2 million oz, can be mined in open-pit fashion, an upgrade of 37%.
    • The update extends the mine’s life by eight years to 2047, and the life of the open pit by five years to 2031.
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