Athens, 14th March 2024
FINANCIAL CALENDAR FOR THE YEAR 2024
BriQ Properties REIC announces the Financial Calendar for the year 2024 in accordance with articles 4.1.2. and 4.1.3.15.1. of the Athens Stock Exchange regulation:
Thursday 28.03.2024: Announcement (Press Release) of the financial results for the year 2023- Thursday 28.03.2024: Publication of the Annual Financial Report for the fiscal year 2023
- Friday 29.03.2024: Annual briefing to analysts, investors and public on the financial data for the year 2023 (Conference Call).
- Friday 19.04.2024: Annual Ordinary General Shareholders Meeting
- Wednesday 08.05.2024: Cut-off date for the payment of the dividend for the fiscal year 2023*
- Thursday 09.05.2024: Determination of dividend beneficiaries (Record Date)*
• Tuesday 14.05.2024: |
Dividend payment* |
- Wednesday 25.09.2024: Publication of the Interim Financial Report of the period from January 1st to June 30th, 2024
*The above-mentioned dates for the dividend distribution, are subject to the approval of the Ordinary General Shareholders Meeting.
The Company clarifies that the Financial Results will be announced on the Company’s website (www.briqproperties.gr) and on the Athens Exchange Group website (www.helex.gr).
The Company has the right to amend the above-mentioned dates, provided that the investors will be informed on time with a new announcement.
BriQ Properties R.E.I.C.
Investor Relations Department
Contact: 3 Mitropoleos Str., 3rd floor, 10557, Athens, tel. +30 211 999 4833, Ε: info@briqproperties.gr, www.briqproperties.gr
Reg. Add.: 25,Al. Pantou Str.,17671,Kallithea, VAT n: GR0997521479,Tax off.: FAE Peiraia, GCR n.:140330201000, Reg. act: 3/757/31.05.2016
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(Oslo ,14 March 2024 )Ayfie Group AS (Ayfie, OSE: AYFIE) today announces the award of status as recommend solution for generative AI applications by a leading global consultancy firm. The consultancy firm is one ofNorway's leading companies for digital transformation, and assists customers on the deployment of generative AI. Following a thorough review process, Ayfie has been awarded to be part of the recommended solutions portfolio for the full Ayfie product suite, including the new Ayfie integration platform for enterprise generative AI applications. The customer demonstrations will commence medioMarch 2024 . "We are proud to be selected to the recommended product portfolio suite for one of the leading consultancy firms within digital transformation and AI. The award serves as testament for the performance of Ayfie applications, where we boost the effectiveness of generative AI applications, provide access control management for vital data and more. We look forward to the upcoming customer dialogues to showcase our full capabilities," saysHerman Sjøberg , CEO of Ayfie. For further information, please contact:Herman Sjøberg , CEO, tel: +47 926 62 233, email: herman.sjoberg@ayfie.comLasse Ruud , CFO, tel: +47 930 90 008, email: lasse.ruud@ayfie.com About Ayfie | ayfie.com Ayfie is a leading software provider specializing in data search and generative AI. With over 15 years of experience, we have honed our expertise in transforming unstructured data into valuable insights that benefit both large enterprises, medium-sized businesses, and individuals.
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© Oslo Bors ASA, source
Australia is establishing a A$2 billion ($1.3 billion) investment financing facility to boost investment in Southeast Asia (SEA) as part of several economic initiatives announced at this week’s Asean-Australia Special Summit to commemorate 50 years of dialogue in Melbourne.
The initiatives include recommendations from Invested: Australia’s Southeast Asia Economic Strategy to 2040, launched last year by Australian prime minister Anthony Albanese to deepen Australia’s economic engagement with SEA, according to a media release from the Australian government.
Addressing 100 Australian and SEA CEOs at a summit on March 5, Albanese unveiled the initiatives, which included a A$2 billion fund called the Southeast Asia Investment Financing Facility (SEAIFF) to be managed by Export Finance Australia. The SEAIFF will provide loans, guarantees, equity and insurance for projects that are designed to boost Australian trade and investment in SEA, particularly in support of the region’s clean energy transition and infrastructure development, the statement said.
A$140 million has been allocated over four years to extend the Partnerships for Infrastructure Program. The Program is designed to support efforts to improve regional infrastructure development and attract more diverse and quality infrastructure finance. The program has been running since 2021 and has assisted partners to accelerate transport connectivity, the clean energy transition and telecommunications reforms.
Australia has also appointed 10 ‘business champions’ to facilitate greater commercial links between Australia and the economies of Asean. The champions are senior Australian business leaders. According to The Australian, Macquarie’s group CEO Shemera Wikramanayake is one of the champions and has been tasked with opening up opportunities with the Philippines, while ANZ’s chief executive Shayne Elliott has been given responsibility for Singapore.
Landing Pads
Another initiative is the launch of regional technology ‘Landing Pads’ in Jakarta (Indonesia) and in Ho Chi Minh City (Vietnam). The new Landing Pads will provide on-the-ground support for Australian businesses to boost technology services exports to SEA markets, following the establishment of the initial ‘Landing Pad’ in Singapore in 2017.
Business visitor visas to those from SEA will be extended from three to five years. The 10-year Frequent Traveller stream will be extended to eligible Asean member states and Timor-Leste.
Albanese said: “Australia’s economic future lies in our region. I’m proud to lead a government that is strengthening our trade and investment ties with SEA, directly contributing to our shared economic prosperity. These initiatives represent further investments in our future and ensure we are working with SEA as it continues to grow in economic size and reach.”
He added: “When our region prospers, Australia prospers. Our work internationally is delivering for Australians – for jobs, for our economy and for our people.”
Australia’s two-way investment with Asean was worth A$307 billion in 2022. Two-way trade with Asean accounted for A$178 billion in 2022, accounting for 15% of Australia’s trade, which is greater than its trade with Japan or the US.
¬ Haymarket Media Limited. All rights reserved.
The FTSE 100 index ended the week on a high-note, rising 0.8% to 7,688.38 points, after U.K. house prices returned to year-on-year growth for the first time in thirteen months. “The FTSE 100, although still trailing its peers by a large margin, also ended the day in positive territory as U.K. house prices rise for the first time in over a year ahead of next week’s budget,” IG senior market analyst Axel Rudolph said in a market comment. Educational publishing and services company Pearson was the day’s top riser, surging 5.4%, on reporting higher full-year profit and extending its buyback scheme.
COMPANIES NEWS:
ITV Sells BritBox International Stake for $322 Mln; Launches Buyback
ITV said it has sold its entire 50% stake of the digital subscription streaming service BritBox International to its joint venture partner BBC Studios for 255 million pounds ($322 million).
—
Aegon Beats Capital Generation Views, Raises Dividend
Aegon said that capital generation for the second half of 2023 came in ahead of guidance, while operating results fell due to one-off benefits that boosted the prior year’s figure.
—
Rightmove Pretax Profit Rises, Guides for Higher Revenue
Rightmove reported a rise in pretax profit and said it expects further revenue growth.
—
IMI Pretax Profit, Revenue Rise on Organic Growth
IMI said 2023 pretax profit rose as revenue increased boosted by organic growth, and that it expects to deliver good growth in the year with increased margins.
—
Pearson’s Pretax Profit Rose; Extends Share Buyback Plan by GBP200 Mln
Pearson reported a higher pretax profit for full-year 2023 despite lower sales and said that it plans to extend the share buyback program by 200 million pounds ($252.5 million).
—
Superdry Extends Deadline For CEO’s Potential Takeover Offer
Superdry said it has extended the deadline for Chief Executive Julian Dunkerton to make a firm takeover offer to March 29.
—
Wincanton Board Backs GXO Offer, Withdraws Support for CMA CGM Bid
Wincanton said its board would back an acquisition offer from GXO Logistics and withdraw its support for a lower bid from CEVA Logistics, a subsidiary of French container-shipping giant CMA CGM.
MARKET TALK:
ITV’s BritBox International Stake Sale Was Inevitable
1042 GMT – ITV’s decision to sell its 50% stake in BritBox International was inevitable given that the British broadcaster has been focusing its efforts to grow its own ITVX streaming platform, AJ Bell investment director Russ Mould says in a note. “It always seemed like an odd fit to be in a 50:50 venture with an arch-rival and bowing out effectively signals that BritBox wasn’t worth the effort for ITV,” Mould highlights. Added to that, BritBox International focuses on classic British TV productions rather than competing against major streaming platforms, meaning that its audience is much smaller, he notes. Shares are up 14%, but down 28% on a 12-month basis. (michael.susin@wsj.com)
—
Sibanye-Stillwater’s Outlook Will Be Key
1032 GMT – Sibanye-Stillwater’s business outlook will likely take focus when the South African precious-metals miner publishes 2023 results on Tuesday, RBC Capital Markets analyst Marina Calero writes in a research note. “We see further shaft closures unlikely for now but expect to hear more on potential cost reductions and/or the ability to expand by-product revenues like chrome given the strong price performance,” the analyst says. The production of platinum group metals should rise 7% in 2024, RBC estimates. “We see the current [share] valuation as fair given the ongoing PGM price weakness, negative near-term free cash flow and the elevated near-term capital expenditure.” Shares are down 3.1% at ZAR19.25. (christian.moess@wsj.com)
—
ITV’s BritBox International Stake Sale Makes Strategic Sense
1006 GMT – ITV’s sale of its stake in BritBox International makes sense strategically given that the asset doesn’t make part of its core business, Citi analysts Thomas Singlehurst and Praveen Shetty say in a note. The British broadcaster’s divestment will generate GBP235 million of net proceeds, all of which will be returned to shareholders through a share buyback, they say. “We anticipate no impact to consensus earnings from the sale, making this costless,” they say. Citi has a buy rating on the stock. Shares are up 16%, but down 26% on a 12-month basis. (michael.susin@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
03-01-24 1158ET
(Alliance News) – Cairn Homes PLC on Thursday proposed a higher dividend as it reported sound profit growth as demand for new housing in Ireland remains high.
The Dublin-based housebuilder said pretax profit rose 6.4% to EUR99.4 million in 2023, from EUR93.5 million a year prior.
Revenue climbed 8.0% to EUR666.8 million from EUR617.4 million. The average selling price jumped 7.9% to EUR383,000 as at Wednesday from EUR355,000 at March 1, 2023.
The company emphasised that the construction of homes for first time buyers is a core market, citing a delivery of over 500 new starter homes at an average market price of under EUR400,000 last year.
Cairn Homes said that “there is a supportive macroeconomic backdrop with strong exchequer surpluses, falling inflation, record and near full employment, strong consumer spending and a growing population,” despite noting the current interest rate environment.
Return on equity edged up to 11.3% in 2023 from 10.8% in 2022.
Cost of sales increased 7.5% to EUR519.2 million from EUR483.1 million.
Cairn proposed a final dividend of 3.2 euro cents per share, bringing the total to 6.3c, up 3.3% from 6.1c in 2022.
The company indicated a busy year ahead, with a closed and forward sale order book of 2,473 units as at Wednesday, up 65% from 1,503 at March 1 last year. The closed and forward sale order book value jumped 77% to EUR946 million from EUR534 million over the same period.
Looking ahead with confidence, the company said: “Ireland entered 2024 with one of the strongest performing economies in the EU.”
It added: “There continues to be a significant structural demand for new homes and despite the delivery of 32,695 new home completions in 2023, the highest since 2008, the [Irish] Housing Commission estimates that around 42,000 – 62,000 new home completions are required per annum.”
Cairn Homes shares fell 2.7% to 124.20 pence each on Thursday afternoon in London. In Dublin, its shares fell 3.0% to EUR1.45 each.
By Tom Budszus, Alliance News slot editor
Comments and questions to newsroom@alliancenews.com
Copyright 2024 Alliance News Ltd. All Rights Reserved.
Shelby Davis, the visionary investor and creator of Davis Funds, has gained legendary status for his adherence to a value-driven investment strategy and commitment to a long-term investment philosophy. Noteworthy similarities exist between Shelby Davis’ investment strategy and the present market conditions.
At the age of 38, Shelby Davis initiated his investment journey with $50,000. Over time, he accumulated a wealth of $900 million, securing a position among the Forbes 400 wealthiest individuals before his passing at the age of 85 in 1994. Here are a few valuable investment insights that we can glean from his experience:
Emphasize value-based investing: Davis advocated for acquiring stocks priced below their intrinsic value. This involved a thorough examination of companies, seeking those with robust fundamentals like consistent earnings growth, a formidable competitive edge, and a stable balance sheet.
Exercise patience: Davis, as a proponent of long-term investing, upheld the practice of retaining stocks for extended periods, even if their values experienced short-term declines. Recognizing the cyclical nature of the stock market, he acknowledged that, over time, sound companies would ultimately witness their stock prices align with their genuine worth.
Manage your emotions: Recognizing the susceptibility to market emotions like fear and greed, Davis emphasized the importance of maintaining discipline. He counselled investors to adhere to their investment plans, especially during periods of market volatility.
Don’t fall for high-flying stocks: The strategy of “buying stocks at any price” is flawed and, in the long run, unsustainable. It is imperative to engage in investing with a more nuanced and disciplined approach. Paying above a company’s intrinsic value exposes you to potential losses if the price adjusts to align with actual worth. Concentrating solely on hype or short-term trends disregards essential factors such as the company’s financials, business model, and competitive landscape.
Make debt work for you: Leveraging debt has the potential to enhance returns. When employed judiciously, borrowing funds for investments can amplify gains, potentially expediting the accumulation of wealth. Davis achieved success by adeptly identifying undervalued stocks and generating returns that surpassed the interest on his borrowed capital.
Write regularly to think better: Contemplating thoughts in our minds can be nebulous and disorganized. Transcribing them onto paper compels us to express ideas, recognize connections, and arrange them coherently. This method fosters a more profound comprehension and unveils any potential gaps or inconsistencies in our thought process.
Invest in three steps: Getting entangled in the pursuit of quick “Earn” or “Return” is tempting, yet overlooking the foundational elements can result in challenges and overlooked opportunities in the future.
The importance of the learning phase is frequently underestimated, as individuals often hurry into the “Earn” stage without establishing a robust knowledge foundation. This hasty approach can result in suboptimal decisions, time squandering, and frustration. Achieving proficiency in intricate skills is a gradual process that demands time and unwavering dedication. It’s not a sprint; rather, it’s a marathon that necessitates persistent effort and patience.
Start investing early in life: Although initiating investments early is commonly perceived as beneficial, the case of George Davis investing later in life illustrates that substantial wealth can still be built, even with a delayed start. Despite commencing later, persistent and intelligent investing can leverage the power of compounding over time. If Davis managed to attain a notable average annual return, initiating investments at the age of 38 could have led to a substantial nest egg by the time of his demise.
Broaden your portfolio: Despite being a proponent of value investing, Davis underscored the significance of diversifying your portfolio across various asset classes and sectors. This strategy serves to mitigate risk and enhances the likelihood of realizing your long-term investment objectives.
Davis achieved success with his investment strategy, delivering substantial returns for his investors throughout his extensive career. Nevertheless, his approach comes with inherent risks. Value investing poses challenges, demanding a considerable amount of patience and discipline. Furthermore, the use of leverage can amplify both gains and losses, adding a layer of complexity to the strategy.
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Hong Kong, a British colony from the 1840s to 1997, grew into an international finance center just off the coast of mainland China.
Anthony Kwan | Bloomberg | Getty Images
Asia-Pacific markets were mostly higher Friday, with China stocks rising for the ninth straight session as investors digested property prices data.
The CSI 300 index ended 0.09% higher at 3,489.74, extending its winning streak for nine days in a row. Hong Kong’s Hang Seng index was 0.13% lower in volatile trading.
Data showed sales prices of newly built commercial housing in first-tier cities fell 0.3% month-over-month in January, with declines narrowing by 0.1 percentage points from the previous month.
At the end of last year, the country’s troubled property market clocked its worst declines in new home prices in nearly nine years.
South Korea’s Kospi ended 0.13% higher at 2,667.70, while the smaller-cap Kosdaq closed 0.18% lower at 868.57.
In Australia, the S&P/ASX 200 closed 0.43% higher at 7,643.60.
Japan stocks were closed for trading on Friday for the Emperor’s Birthday holiday. Japan markets led gains in the previous session, with the Nikkei 225 closing at a new all-time high of 39,098.68, surpassing the previous record of 38,915.87 set in 1989.
Wall Street’s main indexes surged on Thursday, with the S&P 500 hitting a record high after chip giant Nvidia posted quarterly results that far exceeded estimates, boosting the tech sector.
The benchmark index gained 2.11% to close at 5,087.03, its best day since January 2023. The Nasdaq Composite jumped 2.96%, recording its best day since February 2023, while the Dow Jones Industrial Average gained 1.18%, to close above 39,000 for the first time and at a new high of 39,069.11.
— CNBC’s Pia Singh and Yun Li contributed to this report.
HSBC’s global banking and markets unit jumped 8% last year as the UK lender increased fees from dealmaking and maintained trading revenue in most asset classes.
The UK lender posted revenue of $16.1bn for its global banking and markets unit last year, according to its annual accounts. Fees from capital markets and M&A work surged 36%, with HSBC’s investment bank benefiting from a resurgence in debt underwriting revenue.
HSBC’s pre-tax profit of $30.3bn for 2023 was a record for the bank and an increase of 78%, but still below the $34bn expected by analysts. In a statement, chief executive Noel Quinn said that the results “reflected four years of hard work and the strength of our balance sheet in a higher interest rate environment.”
HSBC finished 16th in the investment banking fee league tables last year, according to data provider Dealogic, with 1.3% share of the market. This is up from 17th a year earlier.
The UK lender’s markets and securities services business posted revenue of $9bn, which was largely in line with 2022. However, equity trading fees of $552m were nearly half of the $1bn it earned in the unit in 2022.
HSBC’s GBM business dipped 4% in the final quarter of the year to $3.7bn.
READ HSBC hikes bonuses to $771,700 for its top investment bankers
HSBC has bolstered its UK investment bank over the past year, hiring two senior dealmakers for corporate broking in July, but faces stiff competition from Barclays, which is aiming to consolidate its first place finish in the UK dealmaking fee league tables last year. In recent months, hires within its investment bank have focused on its core markets of China and the Middle East.
Investment banks have struggled against an ongoing drought in deals, with Wall Street banks and Europeans alike posting sharp declines in M&A fees in 2023. UK rival Barclays unveiled a 12% decline in investment banking fees for 2023, led by a 23% slump in revenue from M&A work.
Barclays also unveiled its first investor day since 2014, separating its business into five key units including separating its investment bank from its corporate bank. While the UK lender will look to reduce its reliance on its investment bank, it is not pulling back and within its dealmaking team intends to shift the balance away from debt underwriting to do more M&A and equity capital markets work.
Deutsche Bank’s origination and advisory business was up by 25% in 2023, buoyed by a rebound in debt capital markets activity as its M&A unit slipped 25%. A hiring spree of 50 managing directors at the German lender last year aims to shift the balance of its investment bank towards more M&A and equity capital markets work.
To contact the author of this story with feedback or news, email Paul Clarke
Home prices in November cooled after nine months of stronger gains. But some locales were still red hot.
Prices in November rose from the prior month at the slowest pace since February, according to the seasonally-adjusted S&P CoreLogic Case-Shiller Home Price Indices.
Seasonally adjusted home prices nationally inched up 0.24%, slower than October’s 0.59% month-over-month gain. Prices in an index tracking 20 of the nation’s large metropolitan areas increased a seasonally adjusted 0.15%, slower than the 0.63% gain one month prior.
In a sign of seasonality setting in, unadjusted prices dropped in November from October, with prices inching down 0.18% nationally, and declining 0.24% in an index tracking 20 large metropolitan areas. A month-over-month drop isn’t uncommon at this time of year: on average, national prices dip 0.05% from October to November, historic Case-Shiller data show.
In November, “U.S. home prices edged downward from their all-time high,” Brian D. Luke, head of commodities, real & digital assets at S&P Dow Jones Indices, said in a statement referring to the unadjusted data. “The streak of nine monthly gains ended in November, setting the index back to levels last seen over the summer months.”
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Some cities were still notching new highs, the data show. Unadjusted prices rose to the highest levels since at least 1987 in Miami, Tampa, Atlanta, Charlotte, New York, and Cleveland.
Prices nationally were 5.1% higher than one year prior, and were 5.4% higher in an index tracking 20 of the nation’s large cities. The 20-city gain was the largest since November 2023, but fell short of consensus expectations that called for a 5.7% increase, according to FactSet. Of the 20 cities tracked by the index, Portland was the only metro where prices remained lower than they were one year prior.
A low supply of homes for sale, combined with late 2022’s housing market correction, likely contributed to the strong year-over-year reading. There were 1.13 million previously owned homes for sale at the end of November, well below the prepandemic average of about 2.4 million, according to National Association of Realtors data.
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A drop in mortgage rates from October’s highs means home price gains could continue. “The rate has since fallen over 1%, which could support further annual gains in home prices,” Luke said.
Write to Shaina Mishkin at shaina.mishkin@dowjones.com