BOE Raises Rates by 0.5 Point, Slowing Pace of Tightening
The Bank of England increased interest rates by 0.5 percentage point to 3.5%, following the Federal Reserve in slowing the pace of increases as inflation edges lower.
Companies News:
Serco Sees 2022 Revenue Slightly Above Views; 2023 Revenue Rising
Serco Group PLC said Thursday that it expects 2022 revenue to rise on year slightly ahead of guidance, and 2023 revenue to marginally increase.
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Sika-MBCC Proposal to Divest Some Assets After Merger Accepted by UK Antitrust Body
The U.K.'s competition watchdog accepted a proposal from Sika AG and MBCC Group to sell some of MBCC's assets, a move that the regulator says would prevent their merger from harming the British construction industry.
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Currys Cuts FY 2023 Guidance on Profit Dip After International Market Disruption
Currys PLC said on Thursday that guidance for fiscal 2023 has been downgraded after swinging to a pretax loss in the first half due to the disruption of its international markets and actions taken in face of competitors' heavy discounting.
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Drax Sees 2022 Ebitda Slightly Above Market Views
Drax Group PLC on Thursday said it expects 2022 earnings to be slightly above the top range of analyst expectations, reflecting strong pumped storage and hydro performance in its second half.
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STV Group Sees 2022 Advertising Revenue Slipping Slightly; Beating Prepandemic Levels
STV Group PLC said Thursday that it expects total advertising revenue for 2022 to slip 2% when compared with its record prior year, though remaining up 8% on 2019's prepandemic levels.
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DX (Group) Performance Continues to Meet Management Expectations
DX (Group) PLC said Thursday that performance since its business update in mid-November has continued to be in line with management expectations, and the pipeline of new business opportunities continues to be healthy.
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Tlou Energy to Raise A$3.1 Mln Toward Lesedi Project in Botswana
Tlou Energy Ltd. said Thursday that it is raising 3.1 million Australian dollars (US$2.1 million) via a share placing which will be used toward its Lesedi power project in Botswana.
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Biffa Swung to 1H Pretax Profit on Higher Prices
Biffa PLC on Thursday reported a swing to pretax profit for the first half of fiscal 2023 as price increases boosted its revenue and said it is well placed to trade through a potentially more challenging second-half.
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Actual Experience's FY 2022 Revenue Fell on Fewer Contracts
Actual Experience PLC said Thursday that revenue for fiscal 2022 declined due to contracts that weren't renewed during the year.
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Zotefoams Sees 2022 Adjusted Pretax Profit Beating Market Views
Zotefoams PLC said Thursday that performance since its business update has remained strong, and it now expects 2022 adjusted pretax profit to beat market expectations.
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Hunting Sees Higher 2023 Ebitda on Strong Order Book
Hunting PLC said Thursday that it is increasing its earnings target for 2023, driven by a strong sales order book.
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Sistema 3Q Profit Soars Amid Lower Costs
Sistema JSFC said Thursday that net profit for the third quarter has strongly increased after the group booked lower costs.
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Carclo Shares Fall After Flagging Lower 2H Profit
Carclo PLC shares fell Thursday after it said it expects second-half profit to be materially lower than previously expected after a customer canceled a supply contract.
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Libertine Holdings Shares Fall on Widened 1H Pretax Loss as Costs Rose
Libertine Holdings PLC shares fell Thursday after it said its first-half pretax loss widened on higher cost of sales and administrative expenses and despite a rise in revenue.
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Science Group Sees Strong Dollar Boosting 2022 Revenue, Profit
Science Group PLC said Thursday that it sees revenue and adjusted operating profit for 2022 slightly ahead of its board's expectations, boosted by the strength of the dollar.
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Currys Cuts FY 2023 Guidance After 1H Swing to Pretax Loss -- Update
Currys PLC said on Thursday that guidance for fiscal 2023 has been downgraded after swinging to a pretax loss in the first half due to the disruption of its international markets and actions taken in face of competitors' heavy discounting.
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Petrotal Shares Rise after Peru River Blockade Removed, Opening Route
Petrotal Corp. shares rose Thursday after the company said a river blockade in Peru has been removed, allowing oil barge transportation access to its operating area and making its Brazilian export route available.
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Carr's Group Appoints David White as CFO Designate
Carr's Group PLC said Thursday that it has appointed David White as chief financial officer designate with effect on Jan. 3.
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XLMedia Explores Sale of Its Personal Finance Division
XLMedia PLC said Thursday it is exploring the potential sale of all its personal finance assets as it restructures the division.
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Town Centre Securities Names Craig Burrow as Incoming Group Property Director
Town Centre Securities PLC said Thursday that it has appointed Craig Burrow as group property director, joining the board with effect from Jan. 1.
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1Spatial Names Stuart William Ritchie CFO After Andrew Fabian Steps Down
1Spatial PLC on Thursday said it has appointed Stuart William Ritchie as its new chief financial officer after Andrew Fabian resigned from the role.
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Argos Resources' Shares Fall on Asset Sale, Delisting Plan
Shares of Argos Resources Ltd. fell 21% on Thursday after the company said that it has reached an agreement to sell its PL001 production license interests in the North Falkland Basin and if completed, plans to cancel its trading on London's junior AIM.
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Mondi to Sell Russian Operations to Gotek
Mondi PLC said Thursday that it has agreed to sell its three Russian packaging-converting operations to Russian packaging producer Gotek Group for 24 million euros ($25.6 million) in cash.
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Critical Metals PLC Acquisition
TIDMCRTM
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Future PLC Seeking Shareholder Approval for Capital Reduction
Future PLC said Thursday that it is seeking shareholder approval for a capital reduction in order to create additional distributable reserves in order for any future dividends or share buybacks.
Market Talk:
Drax Expected to Get EGL Biomass Cost Adjustment, RBC Says
1116 GMT - Drax Group is expected to get approval for the U.K. government's biomass cost adjustment as part of the Electricity Generator Levy, RBC Capital Markets says in a note. Drax said it has experienced increased biomass costs in the past year and expects them to reach over GBP100/MWh in 2023. This is above historical averages, which Citi puts at GBP80/MWh, and above its own estimate of GBP91/MWh. "A November EGL technical paper discussed a cost adjustment for biomass, which would have important implications for the total amount of windfall tax that will ultimately be paid," RBC says. (elena.vardon@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
12-15-22 0731ET
