4 February 2021
In 2020, the FTSE travel and leisure sector – which includes restaurants and bars – set a new annual record for the number of profit warnings issued in a year, according to data from the latest EY Profit Warnings Report.
The sector issued 74 profit warnings in 2020, nearly three times the previous annual record of 28 warnings in 2018.
Notably, EY’s data shows that a high proportion of the FTSE travel and leisure sector are at risk of insolvency.
In 2020, 16 per cent of companies in the sector issued their third or more profit warning in a 12-month period, behind only FTSE retailers at 19 per cent.
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Film financier Great Point set for London IPO
Great Point Entertainment Income Trust will finance films and shows on television and streaming platforms such as Netflix.
Great Point Entertainment Income Trust (GPEIT) today announced its intention to float on the main market of the London Stock Exchange.
The London-based group will offer a target issue of 200m shares at 1 penny each at an initial issue price of £1 per ordinary share.
GPEIT is a newly established investment company which will finance content makers and commissioners in the television and film industry.
Its investment goal is to provide shareholders with dividend income and modest capital growth through exposure to media content finance.
Greatland Gold shares are 28% off their recent high. Would I buy?
More on: Image source: Getty Images.
Greatland Gold(LSE: GGP) shares have been one of the big risers since last year. Indeed, if I had invested in the stock this time last year, I would currently been sitting on a return of over 700%. With shares up by over 12% yesterday, there is also significant optimism that GGP has further to rise. But yesterday’s rise comes off the back of a steady decline over the past few weeks. This decline is due to negative drill results at its Scallywag mine in Australia, highlighting the risks of investing in gold stocks.
1 emerging market fund I’d buy today
More on: Image source: Getty Images.
Think of emerging markets and some people may immediately think of China. and although many experts believe the Chinese economy will grow further still, I think we should also look further afield and consider other emerging market areas. One country that has caught my eye is Vietnam.
The Vietnamese economy has been growing rapidly over the last few years, and a number of multinational organisations have recently established manufacturing operations there. According to a recent CNBC news article, Vietnam is likely to be Asia’s top performing economy of 2020 – beating even China!