BOE's Cunliffe Says Digital Pound Not Guaranteed
1322 GMT - A U.K. central bank digital currency is likely to be needed but it's not guaranteed, BOE Deputy Governor Jon Cunliffe says. "Likely to [develop a CBDC] doesn't mean certain," Cunliffe tells the Treasury Select Committee on Tuesday. "Since we started this work we've had Covid and a real shift in digital living but we need to see how trends develop further over the next two to three years." Trends in the economy, society and technology will be assessed, Cunliffe says. The BOE will also need to see whether it's technically feasible including the trade-offs, any problems and costs, he says. (renae.dyer@wsj.com)
COMPANIES NEWS:
Unite Group 2023 Profit Rose on Increased Rental Income, Outlook Positive
Unite Group PLC said Tuesday that its 2023 profit rose on increased rental income, and said the outlook for the 2023-24 academic year is positive.
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Ocado Group FY 2022 Pretax Loss Widened on Higher Costs as Revenue Missed Market Views
Ocado Group PLC reported on Tuesday a widened pretax loss for fiscal 2022, dragged by costs pressures and investments at Ocado retail, and as revenue missed market expecations.
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Croda International 2022 Pretax Profit Boosted by Disposal Gain
Croda International PLC on Tuesday reported a 90% rise in pretax profit for last year with growth across all three sectors, after booking a 356 million pound ($429.5 million) gain from a disposal .
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St. James's Place 2022 Pretax Profit Dropped Amid Inflation, Investment Market Volatility
St. James's Place PLC said Tuesday that pretax profit dropped in 2022 amid rising inflation, macroeconomic and geopolitical uncertainty and investment-market volatility.
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Intertek 2022 Pretax Profit Rose But Missed Consensus; Is Confident on 2023
Intertek Group PLC said Tuesday that pretax profit for 2022 rose but missed consensus, and that it is entering 2023 confidently.
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Man Group 2022 Profit Rose on Higher Fees; Plans to Extend Buyback
Man Group PLC said Tuesday that pretax profit in 2022 rose on higher management and performance fees, and that it intends to repurchase more shares.
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Abrdn to Sell Abrdn Capital for GBP140 Mln
Abrdn PLC said Tuesday that it is selling its discretionary fund management business, Abrdn Capital, for 140 million pounds ($168.9 million).
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Serco Group 2022 Pretax Profit Rose; Launches GBP90 Mln Buyback
Serco Group PLC said Tuesday that 2022 pretax profit rose and backed its guidance for 2023, and said it is launching a share buyback.
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Rotork 2022 Pretax Profit Rose on Higher Volumes, Prices
Rotork PLC said Tuesday that pretax profit for 2022 rose, supported by higher positive price and volumes, which offset cost inflation and partially funded investments.
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Man Group Chairman John Cryan to Retire; Anne Wade Named Successor
Man Group PLC said Tuesday that Chairman John Cryan plans to retire at the end of this year after serving on the board since January 2015, and that Anne Wade will replace him.
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Travis Perkins 2022 Profit Slips on Higher Costs; Revenue Rose
Travis Perkins PLC said Tuesday that its 2022 pretax profit fell on lower property profits and higher costs despite increased revenue.
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Benchmark Holdings Swung to 1Q Pretax Profit on Growth Across Businesses
Benchmark Holdings PLC said Tuesday that it swung to pretax profit for the first quarter of fiscal 2023 after a strong start to the year, with growth in all business areas and a significant uplift in health.
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Abrdn Swung to 2022 Pretax Loss on Adjusting Items
Abrdn PLC said Tuesday that it swung to a pretax loss for 2022 due to adjusting items, missing consensus, and that it intends to return capital to shareholders in 2023 on a level similar to 2022.
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Image Scan Started FY 2023 With Strong Momentum
Image Scan Holdings PLC said Tuesday that its performance for fiscal 2023 started with a strong momentum and that it was increasingly confident in its sales pipeline for the year ending Sept. 30.
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Derwent London Swung to 2022 Pretax Loss on Valuation Losses; Outlook Positive
Derwent London PLC said Tuesday that it swung to a pretax loss for 2022 on a fall in property values, though rental income rose and it said its outlook was positive.
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McBride 1H Pretax Loss Widens on Energy, Labor Costs; Expects Return to Profit in 2H
McBride PLC on Tuesday reported a widened pretax loss for the first half of fiscal 2023, but said it has seen improving market conditions since the period end and expects a return to adjusted operating profit in the second half.
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Various Eateries FY 2022 Pretax Loss Widened on Higher Costs
Various Eateries PLC said Tuesday that its pretax loss for fiscal 2022 widened on the back of higher costs despite reporting a robust revenue increase.
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St. James's Place 2022 IFRS Profit Rose Despite Dip in Pretax Profit -- Update
St. James's Place PLC said Tuesday that profit rose in 2022 despite rising inflation, macroeconomic and geopolitical uncertainty and investment market volatility.
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Abingdon Health Shares Rise on 2H Revenue Expectations
Shares in Abingdon Health PLC rose Tuesday after it said although revenue for the first half of fiscal 2023 came in lower on year, it is expected to improve significantly in the second half.
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BrandShield 2022 Revenue Rose on Year; Boosted by New Business, Clients
BrandShield Systems PLC said Tuesday that 2022 revenue grew on year as it expanded its client base and increased new business.
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Safestay Shares Rise on Expectations of 2022 Revenue Beat
Safestay PLC shares rose Tuesday after the company said it expects to report 2022 revenue ahead of market expectations, while adjusted earnings are seen meeting market views, reflecting a return to near-normal market conditions.
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Essensys Sees FY 2023 in Line With Market Views
Essensys PLC said Tuesday that it remains on track to deliver performance for fiscal 2023 in line with market views after the first half was in line with the board expectations.
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Kape Technologies Says Unikmind Offer Undervalues It
Kape Technologies PLC said Tuesday that Unikmind Holdings Ltd.'s 1.25 billion pound ($1.51 billion) offer for the company materially undervalues Kape and its future prospects.
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XP Power CFO Oskar Zahn Resigns; Warns of Slowing Order Intake
XP Power Ltd. said Tuesday that Chief Financial Officer Oskar Zahn resigned and will leave the group on March 31, and that there is a slowing order intake in the semiconductor manufacturing equipment sector.
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ECSC Group Sees Small Ebitda Loss for 2022 as Sales Decline on Year
ECSC Group PLC said Tuesday that it expects to report a small adjusted Ebitda loss and lower revenue for 2022 despite a stronger second half.
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Zenith Energy Raises Around GBP2.3 Mln for General Purposes
Zenith Energy Ltd. said Tuesday that it has raised around 2.3 million pounds ($2.8 million), with proceeds to be used for a broad range of the company's activities.
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Nexus Infrastructure to Return Up to GBP63 Mln via Tender Offer
Nexus Infrastructure PLC said Tuesday that it will return up to 63 million pounds ($76 million) to shareholders by way of a tender offer, and that its performance in the first quarter of fiscal 2023 was in line with the board's expectations.
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Angling Direct Appoints New Chairman, CEO
Angling Direct PLC said Tuesday that its Chief Executive Andy Torrance has decided to step down to become nonexecutive chairman and that Chief Financial Officer Steve Crowe will assume the role of CEO.
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Workspace Chairman Stephen Hubbard to Step Down, Duncan Owen Named Successor
Workspace Group PLC said Tuesday that Chairman Stephen Hubbard will step down and that Duncan Owen will assume the role from July 6.
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Datalex CFO Dan Creedon to Step Down
Datalex PLC said Tuesday that Chief Financial Officer Dan Creedon plans to step down on June 30 and that the search for his replacement is underway.
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Eurowag Appoints Oskar Zahn as CFO
W.A.G Payment Solutions PLC said Tuesday that it has appointed Oskar Zahn as chief financial officer with effect from April 17, replacing Magdalena Bartos.
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Kavango Resources Completes Strategic Review; to Focus on Exploration, Acquisitions
Kavango Resources PLC said Tuesday that it has completed its strategic review, and that it will carry out an updated exploration plan and search out prospective metal exploration acquisitions.
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Dalata Hotel Swung to 2022 Pretax Profit on Pandemic Recovery; to Pay Dividend in 2H
Dalata Hotel Group PLC said Tuesday that it swung to a 2022 pretax profit as its revenue recovered beyond prepandemic levels, and that it will reintroduce a dividend in the second half of 2023.
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CAP-XX Shares Fall on Widened 1H Pretax Loss; Reviewing Litigation Funding Options
Shares in CAP-XX Ltd. fell Tuesday after the company said its pretax loss widened for the first half of fiscal 2023 after booking higher costs, and that it was reviewing options to fund its litigation process against Maxwell Technologies.
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Kitwave FY 2022 Pretax Profit Rose on Strong Sales Across Divisions
Kitwave Group PLC said Tuesday that pretax profit increased in fiscal 2022 as revenue grew in all business units and as Covid-19 related lockdown restrictions eased.
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Emirates Telecommunication Increases Vodafone Stake to Around 14%
Emirates Telecommunications Group Co. PJSC said Tuesday that it has increased its stake in Vodafone Group PLC to around 14% of the issued share capital.
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St. James's Place Posts Improved 2022 Cash Result But Stops Short of Specific 2023 Guidance -- Earnings Review
St. James's Place PLC reported its 2022 results on Tuesday. Here's what we watched:
MARKET TALK:
Travis Perkin Shares Fall as Property Market Braces for Tough 2023
(MORE TO FOLLOW) Dow Jones Newswires
02-28-23 0920ET
