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Home » UK Shares » Three Quick Facts » Three Quick Facts: A G Barr, McColl’s Retail Group and Hammerson

Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.

#1. A.G. Barr full year profits expected to be ahead of current expectations

There’s a trading update out from A.G. Barr [LON:BAG] this morning, the makers of Irn Bru. Full year profits are now expected to be ahead of current market expectations as a result of positive momentum being maintained over the last couple of months, both in hospitality and “on the go” sectors. The company notes that recent product innovations have exceeded expectations and whilst risks remain in the evolving COVID-19 situation, this momentum is tipped to continue into the new year. A further update is due in February 2022.

#2. McColl’s Retail to extend the conversion of stores into “Morrisons Daily”

McColl’s Retail Group [LON:MCLS], the UK’s leading community retailer, has announced that terms have been agreed with WM Morrison to extend the conversion of stores into “Morrisons Daily” to a further 100 properties, taking the total to 450 by the end of next November. The company also notes that it has reached agreement with lenders to defer the next two banking covenant tests as it looks to realign financing facilities, with the convenience stores expected to facilitate a quicker payback of the investment in refurbishment costs.

#3. Hammerson is working to dispose of non-core assets

Hammerson [LON:HMSO], whose share price is languishing close to nine month lows, has issued a response to press speculation this morning that it may be close to disposing of its stake in the Silverburn development near Glasgow. The company is working to dispose of non-core assets and has confirmed that the number being discussed here is £140m, which is more than 10% of the market cap. Obviously the usual disclaimers apply over no guarantee that the deal will complete but this could help calm the stock in what could be a jittery start.

This article is not investment advice. Investors should do their own research or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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