BOE's Voting Pattern And Rhetoric Are Key For Sterling

BOE's Voting Pattern And Rhetoric Are Key For Sterling

1125 GMT - Sterling's reaction to the Bank of England's meeting Thursday will be determined by policymakers' voting pattern and the BOE's communications if a widely-expected 50 basis points interest rate rise is delivered, Ebury says. At November's meeting, the BOE pushed back against market pricing for rate rises, saying the peak rate would be lower than expected, Ebury strategist Matthew Ryan says in a note. "We suspect that it may do so once again this week, which could present some downside to GBP." Sterling could also weaken if the vote on the rate decision show an increasingly divided BOE, particularly if the statement and meeting minutes lean against market pricing, Ryan says. ([e-mail])

Companies News: 

SThree Sees FY 2022 Double-Digit Net Fee Growth, Beating Management Views

SThree PLC said Wednesday that it expects to deliver strong growth in fiscal 2022 ahead of its expectations driven by double-digit growth across all regions.

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Watches of Switzerland Backs FY 2023 Guidance Amid Increased Demand, Higher Prices

Watches of Switzerland Group PLC backed its fiscal 2023 guidance on Wednesday after reporting a pretax profit increase in the first half amid robust revenue in the U.S. market.

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Mirriad Advertising Sees 2022 Revenue Below Hopes; Upbeat on US Growth Ahead

Mirriad Advertising PLC said it expects revenue for the full year to miss market expectations, but that it is confident of future growth as it strengthens its focus on the U.S. market.

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LoopUp Sees 2022 Revenue Beating Market Views, But Earnings Missing Consensus

LoopUp Group PLC said Wednesday that it expects 2022 revenue to be marginally above market expectations, though earnings to slightly miss market views.

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ProCook Swung to 1H Pretax Loss Amid Challenging Consumer Backdrop

ProCook Group PLC reported on Wednesday a swing to pretax loss in the first half of fiscal 2023 driven by a challenging consumer backdrop, and that it expects underlying pretax profit for fiscal to be break-even.

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Helium One Increases Fund Raising to GBP9.9 Mln on Investor Demand

Helium One Group Ltd. said Wednesday that it has increased its planned fund raising to 9.9 million pounds ($12.2 million) due to significant investor demand.

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Amedeo Air Four Plus Swung to 1H Pretax Profit On Higher Rent, Finance Income

Amedeo Air Four Plus Ltd. said Wednesday that it swung to a pretax profit for the first half of fiscal 2023 after bringing in more rent and finance income, and booking significantly lower credit losses.

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Dalata Hotel Sees Record-High Revenue in 2022 on Continued Robust Trading in 2H

Dalata Hotel Group PLC said Wednesday that it expects to report a record revenue driven by a better-than-expected performance during the second half.

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IntegraFin FY 2022 Pretax Profit Fell On VAT-Linked Costs

IntegraFin Holdings PLC on Wednesday reported a drop in pretax profit for fiscal 2022 due to higher expenses from backdated value-added tax, and said it sees the business remaining resilient in fiscal 2023.

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Volution Group Four-Month Revenue to End of November Rose on Year

Volution Group PLC said Wednesday that revenue for the four months to Nov. 30 was 112 million pounds ($138.5 million), 7.7% higher on year.

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Fulcrum Utility Shares Fall on Widened 1H Pretax Loss Amid Mounting Costs

Shares of Fulcrum Utility Services Ltd. fell Wednesday after the company reported a widened pretax loss for the first half of fiscal 2023 amid a turbulent energy market and a challenging macroeconomic backdrop.

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National Atomic Company Kazatomprom's CFO, Chief Commercial Officer Resign

National Atomic Company Kazatomprom said Wednesday that Chief Financial Officer Kamila Syzdykova and Chief Commercial Officer Askar Batyrbayev have resigned from their positions to pursue other opportunities.

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GetBusy Sees 2022 Revenue Ahead of Market Views

GetBusy PLC said Wednesday that it expects its revenue for 2022 to be ahead of market expectations thanks to strong consumer acquisition and monetization.

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Barryroe Offshore Energy CFO to Step Down in February

Barryroe Offshore Energy PLC said Wednesday that Chief Financial Officer Simon Brett will resign, effective from Feb. 28.

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Billington Sees 2022, 2023 Adjusted Pretax Profit Beating Management Views; Shares Rise

Billington Holdings PLC shares rose Wednesday after it said that it expects both 2022 and 2023 adjusted pretax profit to significantly exceed management expectations on improving performance.

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Videndum Finance Director Martin Green Steps Down; Andrea Rigamonti Named CFO

Videndum PLC said Wednesday that Group Finance Director Martin Green is stepping down from his role and that Andrea Rigamonti is appointed group chief financial officer with immediate effect.

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Cohort Swung to 1H Pretax Profit on Higher UK Defense Sales; Shares Rise

Shares of Cohort PLC rose Wednesday after the company said it swung to a first-half pretax profit and revenue rose on higher U.K. Defense Ministry sales, and raised its interim dividend.

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CyanConnode 1H Pretax Loss Widens; Sees Contracts Boosting 2H

CyanConnode Holdings PLC on Wednesday said that its pretax loss widened in the first half of fiscal 2023 as revenue dropped but it expects upcoming contracts to boost the revenue in the second half.

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Corcel Shares Increase Sharply After GBP466,000 Share Placement

Corcel PLC shares jumped as much as 43% on Wednesday after the company said it has raised 466,000 pounds ($576,209) via a high premium share placing from Auspect Investment.

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Britvic Names Former Greggs's Chair Ian Durant as Incoming Chair Designate

Britvic PLC said Wednesday that it named former Greggs PLC Chair Ian Durant as chair designate, effective from Feb. 1.

 
Market Talk: 

TUI Shares Fall as Capital Raise Likely to Weigh on Price, Peel Hunt Says

1035 GMT - TUI shares fell Wednesday and are unlikely to improve after it said late Tuesday that it is planning a future rights issue to provide funds to repay Covid-19 support to the German government, Peel Hunt says. The travel operator's fiscal 2022 results met expectations Wednesday and management is cautiously optimistic about making progress this year, but the rights issue brings continuing uncertainty, Peel Hunt analysts say in a note. Repayment will cost EUR730 million in total, but potentially up to EUR957 million, and the issue could target around EUR1.4 billion, the brokerage says. "In light of the continuing uncertainty, we have lowered our target price to...148 pence from 190 pence," Peel Hunt says, retaining its hold rating on the stock. Shares fall 7.3% to 136.9 pence. ([e-mail])

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IntegraFin's Outlook Is Reassuring, RBC Says

1036 GMT - IntegraFin's solid full-year results support the view that the British financial-platform provider has broken the bad news cycle, RBC Capital Markets analyst Ben Bathurst says. For the Canadian bank, which has a sector perform rating on the stock, the company's ownership of its technology platform and its customer focus are growth-driving differentiators. Commentary around the outlook for the coming year is reassuring, given the inflationary pressures have been baked in to prior cost guidance, the analyst says. Growth is expected to continue, though at a slightly lower pace in the short-term, Bathurst says. Shares are flat at 307.6 pence. ([e-mail])

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Watches of Switzerland's Free Cash Flow Should Improve in FY 2023

1114 GMT - Watches of Switzerland reported a 1H performance as expected for profitability and in line with the guidance, Jefferies analysts say in a note. The luxury-watch retailer's free cash flow has been hit by inventory build, but this trend is expected to improve in FY 2023, they add. As watches sales are strong as ever, jewelry demand has softened against previous year given abnormal numbers of weddings in 2021 and increased competition, the analysts say. "As a reminder, the guidance does include potential for more challenging conditions in the second half," they say. ([e-mail])

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IntegraFin Maintaining Pricing Should Boost EPS, Says Shore Capital

1119 GMT - IntegraFin Holdings maintaining its pricing means upgrades, says Shore Capital analyst Ben Williams in a note. The British financial-platform provider said in a full-year earnings presentation that it is keeping its platform pricing at current levels. "For Transact not to reduce their platform pricing this year is a major change, and will combine with higher return on corporate cash to mean FY23[forecast] EPS of 12.8-13.2p, by our best estimate at this stage", the broker says. FactSet consensus stands at 12.47 pence. The brokerage has a hold rating on the stock. Shares are flat at 307.60 pence. ([e-mail])

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Watches of Switzerland's Cash Flow Dip Prompts Share Drop

1141 GMT - Watches of Switzerland shares fall 7% after reporting its 1H earnings given the market focus on the short-term, AJ Bell investment director Russ Mould says in a note. The luxury-watch retailer's margins slightly fell, while cash flow had a robust drop, he says. "The latter can partly be explained by having a big working capital outflow versus an inflow a year earlier," Mould adds. In a positive note, the results show a healthy company, with prices and volumes up despite the current backdrop, he says. "Reiterated 2023 guidance... is becoming a rarity in a world where earnings forecasts are being downgraded across multiple industry sectors," he says. ([e-mail])

Contact: London NewsPlus, Dow Jones Newswires;

(END) Dow Jones Newswires

12-14-22 0702ET