Computacenter's Beat Should Reassure Tech Sector
1231 GMT - The upbeat tone of Computacenter's 2022 trading update is a marked contrast to last week's caution surrounding technology majors, Citi says in a note after the U.K. information-technology group reported strong demand and cash generation in 2022. "We see this positive statement being as much driven by the resilience of the group's market positioning as by the underlying strength of overall demand," analysts at the brokerage say, adding that the news is likely to bring some relief to the sector. Citi has a buy rating on the stock. Shares rise 8.1% at 2,158 pence. (elena.vardon@wsj.com)
Companies News:
Unilever Appoints Hein Schumacher as New CEO
Unilever PLC said Monday that it has appointed Hein Schumacher as its new chief executive officer, replacing Alan Jope who announced in September his plan to retire from the company.
---
Shell to Reduce Size of Executive Committee to Improve Performance
Shell PLC said Monday that it will reduce its executive committee from nine to seven members to further simplify the organization and improve performance.
---
Legal & General CEO Nigel Wilson to Retire
Legal & General Group PLC said Monday that Chief Executive Nigel Wilson plans to retire from the board after 10 years in the role, and that it will start the search for his replacement.
---
SThree FY 2022 Pretax Profit Rose on Record Net Fee Performance
SThree PLC said Monday that pretax profit for fiscal 2022 rose as it booked record net fee performance.
---
888 CEO to Immediately Leave Role
888 Holdings PLC said Monday that Chief Executive Itai Pazner will immediately leave his role.
---
Finsbury Food Buys Lees Foods for GBP5.7 Mln
Finsbury Food Group PLC said Monday that it has bought confectionery maker Lees Foods Ltd. for 5.7 million pounds ($7.1 million) in cash.
---
Capital & Counties Properties Says Business Conditions Have Been Positive
Capital & Counties Properties PLC said Monday that trading conditions across the Covent Garden estate have been positive over the past year, with Christmas like-for-like customer sales exceeding prepandemic levels.
---
Shaftesbury 1Q Occupier Levels Rose; Declares Interim Dividend
Shaftesbury PLC on Monday said its first-quarter occupier turnover was 42% higher than the previous year when it was affected by the Omicron coronavirus variant, and declared an interim dividend.
---
888 Suspends Some Online Activities Amid Compliance Investigation
888 Holdings PLC said Monday that it has suspended VIP activities in certain online markets pending the outcome of an internal compliance investigation.
---
Computacenter Sees 2022 Result Slightly Ahead of Guidance
Computacenter PLC said Monday that it expects its 2022 performance to be slightly ahead of guidance after a strong fourth quarter but anticipates inflationary pressures to continue into 2023.
---
Civitas Social Housing Sees Continued Rent Growth in 3Q
Civitas Social Housing PLC said Monday that received rents have continued to grow in its third quarter, with collections in line with expectations.
---
Personal Group 2022 Revenue Rose; Sees Profitable Growth in 2023
Personal Group Holdings PLC said Monday that revenue grew in 2022 and that it expects profitable growth in 2023.
---
Unilever Taps Dairy Boss as New CEO -- Update
By Peter Stiff
---
Centralnic to Report Record Revenue, Market-Beating Earnings for 2022
Centralnic Group PLC said Monday that it expects to report record revenue for 2022 and to beat market forecasts, driven largely by the growth of the online marketing segment.
---
DP Eurasia Expects to Beat 2022 Adjusted Ebitda Views After Jump in Sales
DP Eurasia NV said Monday that it expects to beat adjusted core profit expectations for 2022 as it reported a rise in group system sales for the year.
---
Impellam Sees 2022 Results Ahead of Views, Declares Special Dividend After Disposal
Impellam Group PLC on Monday said it sees 2022 results come in ahead of expectations and that it is selling its regional specialist and healthcare staffing businesses, leading it to declare another special dividend of 77.7 pence per share once the transaction is completed.
---
Sopheon to Report Market Beating 2022 Revenue, Adjusted Ebitda
Sopheon PLC said Monday that it expects to report a rise in 2022 revenue and adjusted Ebitda and to beat market forecasts.
---
Inspired Energy Shares Rise as 2022 Revenue, Ebitda Expected to Beat Forecasts
Shares of Inspired Energy PLC rose as much as 15% in early trade on Monday after the company said that its 2022 revenue beat market expectations on a strong final half of the year and a higher-than-than expected growth in its optimization services.
---
Norcros CEO to Step Down; Replacement Appointed
Norcros PLC said Monday that Chief Executive Nick Kelsall has decided to retire after 30 years with the company, and that Thomas Willcocks has been appointed as his successor.
---
Lenta Sales Rose 11% in 2022
Lenta PLC said Monday that sales rose 11% on year in 2022, despite lower consumer confidence denting its fourth-quarter results.
---
888 CFO to Stay Until End of 2023 After CEO Departure, Compliance Investigations
888 Holdings PLC said Monday that Chief Financial Officer Yariv Dafna has agreed to remain in his post until the end of 2023 rather than stepping down on March 31.
---
Kelso Group Director Steps Down, Names Nigel Knowles as Nonexecutive Chairman
Kelso Group Holdings PLC said Monday that Adam Rhodes has stepped down as director with immediate effect and that it has named Nigel Knowles as nonexecutive chairman.
---
Constance Iron to Raise GBP60 Mln in London IPO
Constance Iron Ltd. said Monday that it is considering floating on the London Stock Exchange's main market and is targeting to raise around 60 million pounds ($74.4 million) via a share placing.
---
Unilever Taps Dairy Boss as New CEO -- 2nd Update
By Peter Stiff
---
Trending: Unilever Names Hein Schumacher as New CEO
1054 GMT - Unilever PLC is among the most mentioned topics across news items over the past four hours, according to Factiva data, after the company named its new chief executive officer, a move that was welcomed by the market. The owner of Ben & Jerry's ice cream and Dove soap has appointed Dutch dairy co-operative boss Hein Schumacher as CEO, replacing Alan Jope who is retiring. Unilever has weathered economic turbulence pretty well and the market has welcomed Schumacher's appointment in expectation he will help steady the ship further, Hargreaves Lansdown says. "He's the current CEO of the Dutch dairy and food giant, FrieslandCampina, so he'll be seen both as a safe pair of hands and a fresh injection of ideas for the company," HL analyst Susannah Streeter writes. RBC Capital Markets analysts James Edwardes Jones and Emma Letheren say the company is seen needing a cultural and organizational shake-up but it's likely to be a while before any results materialize. "It usually takes about 18 months before we see evidence of improved execution and a re-rating of the shares of a consumer staples company," they say in a research note. Shares are trading 0.6% higher at 4,044.50 pence. Dow Jones & Co. owns Factiva. (ian.walker@wsj.com)
---
Trinity Exploration & Production 2022 Production Meets Guidance-- Energy Comment
Trinity Exploration & Production PLC on Monday reported slightly lower production for last year, in line with guidance. Here's what the Trinidad and Tobago-focused oil company had to say:
---
Braime Group Names Carl and Alan Braime as Joint CEOs, Nicholas Braime Steps Down
Braime Group PLC on Monday named Carl and Alan Braime as joint chief executive officers effective on Feb. 1, as Nicholas Braime steps down from the role.
Market Talk:
Fevertree Faces Significant Complexity 2023 and Beyond
1123 GMT - Fevertree Drinks is set for accumulating headwinds, with 2022's sales miss only cementing concerns, RBC Capital Markets analysts Emma Letheren and James Edwardes Jones say in a note. "Seven profit warnings and evidence of further cost headwinds to come prevent us from giving Fevertree the benefit of the doubt that glass costs are the last cost headwind it will face," they say. According to industry contracts, the drinks company could also face temporary disruption in the U.S. market due to macroeconomic pressures, the analysts add. RBC has an underperform rating on the stock and a price target of 800 pence. (michael.susin@wsj.com)
---
Insurance CEOs Played Musical Chairs in January, Says Berenberg
1139 GMT - Six European insurers in Berenberg's coverage have announced a change of chief executive officer so far this year. This shows investors are more in a hurry for results in an inflationary context that makes it more challenging for insurers to deliver as well as a sharper focus on governance, analysts at the brokerage say in a note after the news that Legal & General's CEO is retiring and Direct Line's agreed to step down. "Six in one month is a lot, given that in 2020-22 there were just eight changes, an average of just under three per year," they say. Looking at their track record, Berenberg concludes that change has generally been positive for relative stock performance and particularly good when the appointee was an outsider. (elena.vardon@wsj.com)
---
888 Has Tricky Waters to Navigate After Damaging News
(MORE TO FOLLOW) Dow Jones Newswires
01-30-23 0853ET
