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Studio Retail has posted pre-tax profit of £12.1m in the 53 weeks to 30 April 2023 following Frasers Group's takeover, compared with a loss before tax of £75.7m in the previous year.
Studio Retail surged back into the black after recovering from losses of over £75m as it collapsed into administration.
Barclays initiated coverage of Frasers Group on Tuesday with an ‘overweight’ rating and 1,060p price target, as it said the company was "poised for European expansion".
Analysts at Goldman Sachs initiated coverage on investment manager M&G with a 'buy' rating and 240.0p target price on Tuesday, stating it had "attractive growth, capital returns, and valuation".
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