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Wes Streeting pledges 'wealth tax that works'

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Wes Streeting pledges 'wealth tax that works'
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Perth Bears ‘overwhelmed’ by membership response

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Perth Bears ‘overwhelmed’ by membership response

On Wednesday, primarily across Western Australia and New South Wales, rugby league enthusiasts desperate to join the National Rugby League’s newest expansion club, the Perth Bears, finally got their opportunity to secure one of two foundation membership packages.

Fans can either purchase a $79 foundation membership package – which includes merchandise, club offers and early priority access to secure 2027 match-based memberships – or a premium foundation member “Club 2027 membership” package for $3000, headlined by a made-to-order exclusive varsity jacket and limited edition medallion, along with early priority access to secure a match-based membership.

Devices were refreshed feverishly across the country such was the demand, as the Bears, a marriage of equals between WA and the North Sydney Bears, begin final preparations ahead of their entry into the NRL from next season.

The demand led to online reports of lengthy queues – with the overall interest in both packages taking the club aback, according to Mr De Ceglie.

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“We have been overwhelmed by the response and the demand,” he told Business News.

“We don’t want to talk specific numbers right now, but it’s fair to say it’s been at least triple what we expected in the first 24-hours. 

“We’re well on our way to being an absolute membership powerhouse of the NRL and the WA sporting landscape too.”

For context, the Dolphins, which entered the NRL back in 2023, had 28,594 members in 2025. 

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The Dolphins have been able to leverage off the existing Redcliffe Dolphins, a traditional powerhouse of the Hostplus Cup (formerly Queensland Cup) in terms of rusted-on local supporter base, bar, gaming and on-field facilities. 

HBF Park in East Perth, the Bears’ home ground, has a rectangular sport attendance capacity of approximately 20,441.

Rationale behind $3000 pricetag explained

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Predominantly on social media, there were some sections of prospective Perth Bears members who were less than impressed with the premium foundation membership price tag – with some labelling the club “out of touch” with the common fan or even holding a view that the club was dismissive of rising cost-of-living pressures impacting households.

Mr De Ceglie reiterated to Business News that the Bears were grateful for all supporters and the club anticipated leading into the launch that the premium foundation member package was only likely to attract a distinct segment of supporters.

“We anticipated only a small number of fans would choose this option and it is so far tracking very much in line with our target,” he said.

“We’re very grateful for all our supporters. 

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“The premium membership pricing was benchmarked against what the Dolphins used for its similar Glasshouse Club membership when they recently launched into the NRL. 

“We also benchmarked it, taking into account inflation, with memberships like the Harbour Masters used by the Fremantle Dockers when they entered the AFL. 

“I think it’s important to remember that the Perth Bears are a non-profit club and every bit of revenue we create goes back into the club and growing the greatest game of all in Western Australia.”

Lessons from online process

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While technical difficulties on the club’s website during the membership launch were not ideal, Mr De Ceglie pointed to the demand playing a role in it.

“The technical difficulties were two-fold — mainly because of the unprecedented demand and also because of some issues with our e-commerce provider,” he said.

“We keep planning for the extra demand, but it’s always so much more than even we have expected. 

“I think the lesson for the Perth Bears, and the greater sporting world, is that demand for NRL in Western Australia so much bigger than any of us anticipated. 

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“We are also grateful for the understanding and support from our fans, as well as their patience. 

“We’re working with the e-commerce provider to ensure anyone impacted by faults has their issue resolved as soon as possible. 

“It says a lot about the passion of the Bears fans that everyone has been really supportive.”

CEO says Bears could one day rival Broncos’ commercial success  

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The Bears have already announced their inaugural jerseys will be unveiled prior to the Melbourne Storm-Manly Sea Eagles match (1pm) at HBF Park on August 8, with those inside the stadium having the first opportunity to buy one on-site.

Mr De Ceglie said the Bears were focused on further expanding their commercial pipeline in the lead up to their 2027 debut – a commercial rise which he says could one day rival one of Australia’s wealthiest sporting brands.

“The Perth Bears continue to break commercial records across the board for not just the NRL but the national sporting landscape,” he said.

“I believe our jersey, for example, will be the most commercially successful for any sporting club in Australia. 

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“We want to enter the NRL in 2027 as both an economic and membership powerhouse. 

“I truly believe the Perth Bears can rival the Brisbane Broncos as the most commercially successful team in the NRL.”

Formed in 1982, Brisbane are the only NRL club on the ASX, having listed on May 12 1989.

The Broncos, which have a market cap of $159.8 million, posted a net profit of $7.77 million in 2025, up from $5.71 million.

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Its operating revenue rose by 20.8 per cent to $98.3 million, which included a 16.8 per cent uptick in sponsorship dollars.

As of December 31 2025, the Broncos’ total equity reached $53.5 million. 

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Sage grows revenues and profits on cloud products as more customers adopt AI

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The six months performance has led to a modest upgrade in full year outlook

Sage CEO Steve Hare

Sage CEO Steve Hare(Image: Philip Gatward)

Accounting and payroll software giant Sage has posted double-digit revenue and profit growth in what its CEO has labelled an excellent first half.

The Tyneside-based FTSE100 firm indicated that cloud products had driven much of the growth, with customers also making increased use of its AI systems. In unaudited results for the six months to the end of March, Sage reported 10% growth in statutory revenue to £1.36bn and a 15% leap in statutory operating profit to £293m, while annualised recurring revenue – a key measure for the group – grew 11% to £2.72bn and underlying operating profit was up 14% to £326m.

All of Sage’s markets delivered growth, led by North America with 14% revenue growth, where customers in the not-for-profit, construction, real estate and financial services sectors contributed and more adopted AI-powered functionality. Meanwhile in the UK, Ireland and Africa reported 10% growth and revenue was up 7% in Europe.

The performance prompted a modest rise in outlook with full-year total organic revenue growth expected to be above 9%.

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Bosses said they had made progress in embedding AI into customer work with the launch of new agents and the expansion of its flagship digital assistant, Copilot. That has meant integrating Copilot into existing products such as Sage Intacct and Sage Sales Management. The firm has also been making more use of AI in its own work, with benefits across its engineering, customer support, sales and marketing functions.

Steve Hare, chief executive officer, said: “Sage delivered an excellent first-half performance, with double-digit revenue growth, further margin expansion and strong cash flows. This reflects the focused execution of our strategy and a deep understanding of our customers’ needs.

“Small and mid-sized businesses trust Sage to run their mission-critical finance, payroll and HR workflows, where accuracy and compliance are non-negotiable. Our intelligent agents are already helping finance teams accelerate cash flows, close the books faster, plan more effectively and turn insight into action, without compromising control or accountability.

“By embedding AI directly into our customers’ day-to-day work, we are making our solutions more valuable, reinforcing our competitive advantages, and driving efficient, sustainable growth. With our trusted scalable platform, growing agent portfolio and strong momentum supported by investment across the business, I am confident in Sage’s ability to deliver growth and long term value for all stakeholders.”

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(VIDEO) Stephen A. Smith Says Anyone Involved in Luka Doncic Trade Deserves to Be Fired

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Luka Doncic
Luka Doncic
Stephen A. Smith Says Anyone Involved in Luka Doncic Trade Deserves to Be Fired

NEW YORK — ESPN’s Stephen A. Smith declared on “First Take” that anyone involved in the Dallas Mavericks’ trade of Luka Doncic deserves to lose their job, as the organization continues to face fallout from the February 2025 deal.

The Mavericks sent Doncic, along with Maxi Kleber and Markieff Morris, to the Los Angeles Lakers in a three-team deal involving the Utah Jazz for Anthony Davis, Max Christie and a 2029 first-round pick.

Smith made the comments during a segment discussing the recent firing of Mavericks head coach Jason Kidd. He stated that new team president Masai Ujiri made it clear that involvement in the trade would lead to consequences.

“And if we’re being honest, anybody who had something to do with that should lose their jobs,” Smith said on the May 20, 2026, broadcast.

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The Mavericks fired general manager Nico Harrison earlier in the season following the trade. Harrison had acquired players including Kyrie Irving, Daniel Gafford and PJ Washington in prior moves and helped lead the team to the 2024 NBA Finals.

Kidd was fired on May 20, 2026. Smith noted that Kidd had publicly clarified he was not involved in the trade decision until the final stages, after former owner Mark Cuban accused him of awareness.

Smith acknowledged Harrison’s other contributions but said the executive “will forever be attached to this deal as one of the worst in NBA history.” He expressed skepticism about Harrison receiving strong future opportunities due to the trade’s long-term impact.

Doncic, now with the Lakers, has performed at an MVP-caliber level in the 2025-26 season. He averaged near 40 points over stretches before an injury. The 26-year-old signed a contract extension with Los Angeles through 2028.

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Davis played 29 games for the Mavericks before being traded to the Washington Wizards in February 2026 in a multi-player deal. Dallas received Khris Middleton, AJ Johnson, Malaki Branham, Marvin Bagley III and multiple draft picks in that transaction.

The Mavericks selected Cooper Flagg with the No. 1 overall pick in the 2025 NBA Draft after a lottery win. The team has focused its rebuild around the young forward.

Masai Ujiri joined the Mavericks as president of basketball operations. Reports indicate he sought authority to make personnel changes, including the decision on Kidd.

Smith highlighted the business implications of losing Doncic, describing him as a “global iconic figure” who helps sell franchises domestically and internationally.

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The trade occurred on Feb. 1-2, 2025, and shocked the NBA with minimal prior leaks. Fan protests occurred in Dallas, and former Mavericks star Dirk Nowitzki reacted with a sad-face emoji.

Mark Cuban, who sold his majority stake, has repeatedly stated he would not have approved the trade of Doncic.

The Mavericks reached the NBA Finals in 2024 with Doncic and Irving but have struggled in subsequent seasons. The team finished the 2025-26 regular season with a sub-.500 record.

Kidd coached the Mavericks since 2021 and helped develop young players, including giving significant responsibility to rookie Cooper Flagg. Smith credited Kidd and his staff for player development but noted broader issues tied to the trade.

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Lakers fans and analysts have viewed the acquisition of Doncic as a major success. The team has competed strongly even in periods without LeBron James.

The Mavericks’ front office and ownership changes reflect an attempt to move past the trade. Ujiri’s arrival signals a new direction for the franchise.

Smith emphasized that the trade’s residue will affect reputations for years. He noted that while Harrison and Kidd had positive contributions elsewhere, the Doncic transaction defines their tenures with Dallas.

The 2026 NBA offseason will feature further roster construction for the Mavericks as they build around Flagg and address cap flexibility gained from recent moves.

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Discussions around the trade continue to dominate NBA media coverage more than a year later. “First Take” segments have revisited the deal multiple times, including one-year anniversary reflections.

Doncic remains a leading MVP candidate when healthy and has thrived in Los Angeles alongside other stars. His departure from Dallas continues to be cited as one of the most controversial transactions in league history.

The Mavericks have not commented officially on Smith’s remarks. The organization focuses on its current rebuild and upcoming draft assets.

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At Close of Business podcast May 21 2026

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At Close of Business podcast May 21 2026

Sam Jones speaks to Nadia Budihardjo about Emyria, a Perth-based company put in a strong position after a recent US executive decision.

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MaxLinear (MXL): Underappreciated AI Infrastructure Play With Major Upside Potential

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MaxLinear (MXL): Underappreciated AI Infrastructure Play With Major Upside Potential

This article was written by

I have been a Merchant Seaman that has traveled the world for over 30 years. Within the last 15 years, I developed a very intense interest in investing. I learned a lot of what I know about investing from The MF. Also because I have a engineering background, I often tend to gravitate to Tech stocks

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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(VIDEO) Air France Flight to Detroit Diverted to Montreal Over Congo Passenger Ebola Restrictions

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10 Key Things to Know About Rededicate 250 Faith Event

MONTREAL — An Air France flight from Paris to Detroit was diverted to Montreal on May 20, 2026, after U.S. authorities determined a passenger from the Democratic Republic of the Congo had boarded in violation of new Ebola-related entry restrictions.

Air France Flight 378, a Boeing 777 operating as Delta codeshare DL8719, departed Paris-Charles de Gaulle Airport around 4 p.m. local time. It landed at Montreal Trudeau International Airport at approximately 5:15 p.m. ET, according to FlightAware data.

U.S. Customs and Border Protection confirmed the diversion. A spokesperson stated: “Air France boarded a passenger from the Democratic Republic of Congo in error on a flight to the United States. Due to entry restrictions put in place to reduce the risk of the Ebola virus, the passenger should not have boarded the plane. CBP took decisive action and prohibited the flight carrying that traveler from landing at Detroit Metropolitan Wayne County Airport, and instead, diverted to Montreal, Canada.”

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The passenger was removed in Montreal. The aircraft remained on the ground for less than an hour before continuing to Detroit with the remaining passengers. There was no medical emergency on board.

Air France issued a statement: “Air France confirms that, at the request of U.S. authorities, Flight AF378 on May 20, 2026, operating the Paris-Charles de Gaulle–Detroit (DTW) route, was diverted to Montreal Airport after a Congolese passenger on board was denied entry into the United States. In fact, under new regulations, passengers arriving from certain countries, including the Democratic Republic of the Congo, may only enter U.S. territory via Washington (IAD) Airport. There was no medical emergency on board, and like all airlines, Air France is required to comply with the entry requirements of the countries it serves.”

Deborah Mistor, a business class passenger, told CBS News the captain announced the diversion about four hours before the scheduled Detroit arrival. He later confirmed there were no technical issues with the plane. Flight attendants then wore face masks.

The incident stems from U.S. restrictions implemented amid an Ebola outbreak caused by the Bundibugyo virus in eastern Democratic Republic of the Congo and parts of Uganda. The World Health Organization declared it a public health emergency of international concern on May 17.

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As of mid-May 2026, health officials reported hundreds of suspected cases and over 100 deaths in the region. The Bundibugyo strain has no approved vaccines or specific treatments.

On May 18, the CDC and Department of Homeland Security enacted measures under Title 42 of the Public Health Service Act. Non-U.S. passport holders who had been in the Democratic Republic of the Congo, Uganda or South Sudan in the previous 21 days face entry restrictions. Such travelers must enter through designated airports with enhanced screening, including Washington-Dulles International Airport.

CBP did not disclose details about the passenger’s recent travel history or symptoms. It remained unclear whether the individual was a Congolese national.

The Federal Aviation Administration referred inquiries to CBP. The CDC and Air France had no immediate additional comment beyond the diversion statement.

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The diversion highlighted enforcement of the new rules just days after implementation. Airlines must screen passengers for recent travel to affected areas before boarding U.S.-bound flights.

Passengers on Flight 378 continued to Detroit after the stop in Montreal. No further health incidents were reported upon arrival.

This marks an early test of the U.S. response to the Bundibugyo Ebola outbreak. Officials emphasize that the risk to the general public in the United States remains low due to the virus’s transmission method requiring direct contact with bodily fluids.

The Africa Centres for Disease Control and Prevention and WHO continue monitoring the outbreak centered in Ituri Province, DRC. Cross-border movement and regional insecurity complicate containment efforts.

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U.S. health authorities coordinate with international partners on screening, contact tracing and potential evacuations. A small number of U.S. citizens affected in the region have been medically evacuated.

The incident caused minor delays but no major disruptions to other flights. Montreal Trudeau International Airport handled the unscheduled arrival routinely.

Travelers and airlines adjust to the 30-day restrictions, effective through mid-June 2026. Enhanced public health measures at designated entry points include screening and monitoring protocols.

Air France and other carriers review boarding procedures to prevent similar occurrences. Compliance with destination country requirements remains mandatory.

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The event drew attention on social media and aviation forums, with passengers sharing accounts of the mid-flight announcement and crew precautions.

Broader context includes ongoing global health vigilance following previous Ebola outbreaks. The current strain’s characteristics influence response strategies, including the lack of approved countermeasures.

U.S. officials continue risk assessments. No confirmed Ebola cases linked to this flight or recent U.S. arrivals from the region have been reported.

The diversion of Air France Flight 378 underscores the intersection of international travel, public health policy and rapid enforcement of entry rules during emerging infectious disease threats.

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Emyria moves on clinical drugs play

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Emyria moves on clinical drugs play

A Perth-based company could win big from a change in US health policy.

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Apollo Micro Systems shares rally 22% in 3 days after strong Q4 results. Should you buy?

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Apollo Micro Systems shares rally 22% in 3 days after strong Q4 results. Should you buy?
The shares of Apollo Micro Systems have recorded a sharp surge recently, rallying 22% in three sessions following the release of its results for the January-March quarter of the financial year 2026.

The shares of the company jumped nearly 6% to hit a fresh 52-week high of Rs 377.7 apiece on NSE in the morning trading hours of Thursday. The multibagger stock has rallied 28% in one month and 153% in one year, delivering 1,022% returns over three years and 3,026% returns over five years.

The defence player on Monday reported a 163% year-on-year (YoY) surge in its consolidated net profit to Rs 36.8 crore for Q4 FY26, from Rs 14 crore in the corresponding quarter of the previous financial year. The firm’s revenue from operations meanwhile rallied 81% YoY to Rs 293.3 crore during the quarter under review, as against Rs 161.8 crore in the year-ago period.

Also Read | Multibagger Apollo Micro Systems shares soar 19% in two sessions. What’s behind the sharp rise?

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For the entire financial year which ended on March 31, 2026, Apollo Micro Systems reported a 90% YoY surge in net profit to Rs 107.4 crore, while revenue from operations jumped 61% You to Rs 940.3 crore. Apollo Micro Systems Managing Director Baddam Karunakar Reddy described FY26 as a “breakthrough year” for the company, driven by record revenue and profitability, the successful acquisition of IDL Explosives through ADIPL, the receipt of a DPIIT licence for UAV manufacturing, and the company securing its first export order.


Reddy also said another acquisition through ADIPL is likely to be completed before the end of the next financial year, which could further enhance the company’s capabilities and future growth prospects.
During the year, the company posted its highest-ever quarterly and annual EBITDA. It also delivered record profit after tax on both a quarterly and yearly basis, while achieving an all-time high order book. In addition, the company surpassed its annual PAT margin guidance.

Should buy, sell or hold Apollo Micro Systems shares?


Apollo Micro Systems has witnessed a strong breakout above the crucial Rs 355 resistance zone backed by sharp volume expansion, indicating fresh momentum buying and continuation of the ongoing uptrend, said Virat Jagad, Senior Technical Research Analyst, at Bonanza Portfolio.

Also Read | Market Trading Guide: Buy Manappuram Finance and Apollo Micro Systems on Thursday for gains up to 8%

“The stock is trading above all major EMAs, reflecting strong bullish structure across short- and long-term time frames, while RSI is sustaining above 60, supporting positive momentum despite minor volatility,” he said.

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Investors can consider fresh buying with a stop loss of Rs 340, while upside target should be placed at Rs 385 and Rs 400, the analyst added. “Sustained trade above Rs 355 can further accelerate bullish momentum in coming sessions,” he further said.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Jubilant Foodworks shares crash 8% after Domino’s India operator’s Q4 results. What spooked investors?

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Jubilant Foodworks shares crash 8% after Domino's India operator's Q4 results. What spooked investors?
Shares of Jubilant Foodworks crashed more than 8% on Thursday after the Domino’s India operator released its results for the fourth quarter of FY26, with brokerages reducing target prices citing multiple headwinds.

The company on Wednesday reported a consolidated net profit of Rs 79.79 crore for the January-March quarter of the financial year 2026, marking a whopping 66% year-on-year (YoY) rise from the Rs 48 crore net profit reported in the corresponding quarter of the previous financial year. The firm’s revenue from operations, meanwhile, grew 19% YoY to Rs 2,499 crore during the quarter under review, as against Rs 2,095 crore in the year-ago period.

Along with the Q4 results, Jubilant FoodWorks said its board recommended a dividend of Rs 1.2 per share (60%) with a face value of Rs 2 each for the financial year that ended on March 31, 2026. This is, however, subject to shareholders’ approval at the upcoming Annual General Meeting (AGM).

“During March, select markets experienced temporary LPG supply constraints, which had a limited and localised impact on our operations. Overall, this translated into an estimated 30–40 basis points impact on Q4 FY26 like-for-like growth of Domino’s India. The situation was effectively managed through swift operational measures, including temporary menu reconfigurations at a small set of stores, dynamic realignment of delivery catchments, and use of alternative energy sources. Since then, we have progressively reduced our dependence on LPG, diversified vendor sourcing to further de-risk supply, and benefited from improved availability following the Government of India’s interventions. In Q1FY27, the LPG supply has largely normalised, and the business operations have normalised to pre-disruption levels,” the company said in its letter to shareholders.

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Nuvama on Jubilant Foodworks

Nuvama said that Jubilant Foodworks’ Q4 earnings were “very weak” considering a pickup in growth sentiments across the QSR space and the peer group performing better. “The margin expansion outlook rests on two assumptions: accelerating Domino’s growth and Popeyes turning the corner on losses with scale. Both appear optimistic in the backdrop of rising cost pressures,” it said.
Nuvama maintained its ‘Buy’ rating with a negative bias on the shares of Jubilant Foodworks, and reduced its target price to Rs 646 apiece from Rs 744 apiece earlier. The latest target price implies an upside potential of nearly 37% from the stock’s previous closing price. The brokerage also reduced its earnings estimates for the Domino’s India operator.

Morgan Stanley on Jubilant Foodworks

Morgan Stanley maintained its ‘Equal weight’ rating on the shares of Jubilant Foodworks, with a target price of Rs 486 apiece, implying an upside potential of nearly 3% from the stock’s previous closing price.

The international brokerage highlighted that Domino’s India revenue growth moderated 5% YoY in Q4, and like-for-like growth declined sharply sequentially to 0.2%, ET Now reported. It added that the performance was impacted by lower average bill value and weaker dine-in sales.

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Morgan Stanley expects the company to face margin headwinds from LPC, labour and commodity inflation, while noting that it has taken nearly 1.2% price hike so far. According to the international brokerage, weak Q4 and near-term headwinds can keep the stock under pressure.

Goldman Sachs on Jubilant Foodworks

Goldman Sachs maintained its ‘Neutral’ call on the shares of Jubilant Foodworks, but reduced its target price to Rs 460 from Rs 480. The latest target price implies a downside potential of nearly 3% from the stock’s previous closing price.

The international brokerage said that the firm’s Q4 EBITDA was slightly ahead of estimates due to Dunkin’ classification as discontinued operations, ET Now reported. It, however, flagged near-term margin pressure from energy, wage and raw material inflation.

Also Read: Protean eGov Technologies jumps 20% after strong Q4 profit and revenue growth

Goldman Sachs reduced its earnings estimates for the company, while expecting Domino’s India growth to lag peers in FY27.

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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Matrix Service Company (MTRX) Presents at Sidoti Micro-Cap Virtual Conference – Slideshow

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Matrix Service Company (MTRX) Presents at Sidoti Micro-Cap Virtual Conference – Slideshow

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