FTSE 100 Falls After Losses on Wall Street
0903 GMT - The FTSE 100 falls 0.6% to 7783.45 points after declines in U.S. stocks overnight following weak U.S. data on retail sales and industrial production that fuelled concerns about a worsening economic outlook. Mining shares slip on lower copper prices while oil and gas stocks retreat as oil prices drop. Housebuilders decline after a survey from the Royal Institution of Chartered showed U.K. house prices registered the most widespread falls in 13 years in December. Informa shares rise 1.4% after the events and academic publishing group said it expects to beat its previous 2022 guidance. (renae.dyer@wsj.com)
Companies News:
Sage Group 1Q Growth Met Expectations; Backs FY 2023 Guidance
Sage Group PLC said Thursday that growth was in line with expectations in the first quarter of fiscal 2023 and it backed its guidance for the full year.
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Harbour Energy Sees 2022 Ebitdax Increase on Robust Production
Harbour Energy PLC said Thursday that it expects to nearly double its Ebitdax for 2022 after achieving a production for the year at the top end of its guidance amid lower costs.
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Informa Expects to Beat 2022 Revenue, Adjusted Operating Profit Guidance
Informa PLC said Thursday that it expects to report higher revenue and adjusted operating profit for 2022 and to beat its previous guidance, after a strong performance which has continued into this year.
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Melrose Industries' Demerging Business Beat Its 2022 Expectations
Melrose Industries PLC said Thursday that its combined automotive, powder metallurgy and hydrogen businesses--set to be spun off--exceeded its expectations in 2022, with a combined rise in revenue and operating profit.
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Deliveroo 4Q Gross Transaction Value Grew 6%; 2H Adjusted Ebitda Was Breakeven
Deliveroo PLC said Thursday that fourth-quarter gross transaction value, or GTV, growth was 6% year-on-year, and that adjusted Ebitda in the second half was approximately breakeven for all operations.
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Boohoo Sees FY 2023 Revenue, Adjusted Ebitda Decline in Line With Market Views
Boohoo Group PLC said Thursday that it expects adjusted Ebitda for fiscal 2023 to be in line with market expectations following a revenue fall in the four months ended December.
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Dr. Martens 3Q Revenue Misses Board's Expectations
Dr. Martens PLC said Thursday that third-quarter revenue was below its expectations, blaming slower than expected direct-to-consumer growth in America as well as operational issues at its new Los Angeles distribution centre.
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PensionBee 2022 Revenue, Asset Base Rose as Inflows Climbed
PensionBee Group PLC said Thursday that 2022 revenue and assets under administration rose, amid strong inflows as it set out long-term targets.
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Frontier Developments Swung to 1H Operating Profit; Sees Earnings Growth for FY 2023
Frontier Developments PLC said Thursday that it expects to increase its earnings in fiscal 2023, despite lower revenue expectations, after swinging to an operating profit in the first half.
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AJ Bell's 1Q Total Assets Under Management Rose
AJ Bell PLC said Thursday that total assets under management for the first quarter of fiscal 2023 rose as it achieved robust gross and net inflows against a "continued challenging backdrop."
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Workspace Group Says 3Q Demand Was Resilient; Rent Rose
Workspace Group PLC said Thursday that rent roll in the third quarter rose and customer demand remained resilient though the number of enquiries and lettings fell.
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Dunelm Expects FY 2023 Profit Ahead of Market Views on Robust 2Q Trading
Dunelm Group PLC said Thursday that performance for fiscal 2023 is ahead of current market expectations after increased sales for the second quarter thanks to positive demand for autumn and winter products.
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Premier Foods Reports Strong 3Q Performance; Expects to Meet FY 2023 Views
Premier Foods PLC said Thursday that it had a strong third quarter performance, supported by its major grocery brands, and expects to meet the board's expectations for the year.
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Hotel Chocolat Sees FY 2023 in Line With Views After Record Christmas Performance
Hotel Chocolat Group PLC said Thursday that it continues to perform in line with market expectations following a record performance over the Christmas period, but that it remains cautious about consumer sentiment.
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PayPoint 3Q Net Revenue Rose
PayPoint PLC said Thursday that group net revenue from continuing operations in the third quarter of fiscal 2023 rose 9.8%, and that revenue from its e-commerce division increased 51%.
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Ashtead Technology Shareholder BP Inv2B Bidco Sells 15.5M Shares at 310 Pence Each
Numis Securities Ltd. said Thursday that it has sold 15.5 million shares in Ashtead Technology Holdings PLC on behalf of BP Inv2B Bidco Ltd. at 310 pence each.
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Gear4Music Shares Tumble on 3Q Lower Profit
Gear4Music (Holdings) PLC shares dropped on Thursday as profit in the three months to December slid amid sluggish consumer sentiment and postal disruptions.
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Marshalls 2022 Revenue Rose 22%; Sees Adjusted Profit Meeting Market Views
Marshalls PLC said Thursday that revenue rose 22% in 2022 on the back of acquiring Marley Group, and it sees adjusted pretax profit meeting market views.
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Elementis Had Solid 4Q; Expects to Meet 2022 Underlying Operating Profit Forecast
Elementis PLC said Thursday that it had a solid performance over the fourth quarter of last year and expects to report underlying operating profit in line with market forecasts, and above the prior year.
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Eurowag to Post 2022 Net Revenue Increase on Higher Customer Numbers
W.A.G. Payment Solutions PLC said Thursday that it expects 2022 net revenue to rise in line with guidance on higher customer numbers, despite a challenging macroeconomic environment.
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Bakkavor Sees 2022 Profit in Line With Views on Robust UK Revenue Growth
Bakkavor Group PLC said Thursday that performance for 2022 has been in line with expectations as revenue reached a record high supported by higher pricing in the U.K.
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Craneware Shares Fall as Professional Services Revenue Unlikely to Recover; 1H Revenue Rose
Craneware PLC shares fell Thursday after it said that it no longer assumes professional services revenue will recover to historic levels in fiscal 2023, though first-half revenue and adjusted Ebitda met its expectations.
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ReNeuron Group Cuts 40% of Staff, Cash Extended into 2024
ReNeuron Group PLC said Thursday that it has reduced the company's headcount by 40% with a subsequent reduction in costs which now extends its cash into 2024.
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UK regulator's ESG boss says greenwashing fines 'will come' -- Financial News
The FCA's director of ESG said the regulator did not 'want to go straight for the stick' by handing out penalties for greenwashing
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Finsbury Food 1H Sales Rose 15% on Price Recoveries; Sees FY 2023 Meeting Views
Finsbury Food Group PLC said Thursday that sales for the first half of fiscal 2023 rose 15% on year, driven by price recovery initiatives on consistent volumes, and that it expects to meet full-year market views.
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Luceco Shares Rise After Backing of 2022 Adjusted Operating Profit Guidance
Luceco PLC shares rose on Thursday after the group said it expects to deliver adjusted operating profit for 2022 at the upper end of its guidance after a fourth-quarter performance in line with expectations, and that its chief financial officer will step down.
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Centaur Media Sees 2022 Revenue, Profit Rising; To Pay Special Dividend
Centaur Media PLC said Thursday that it expects to report a revenue and profit rise in 2022 and it will pay a special dividend, but maintained a cautious global outlook for 2023.
Market Talk:
Melrose Industries' Demerging Business Results Imply Good 2022 as a Whole
0753 GMT - Melrose Industries' 2022 update for its "DemergerCo" set of businesses--Automotive, Powder Metallurgy and Hydrogen, all to be spun-off--came in ahead of expectations, suggesting a strong performance for the wider business, RBC Capital Markets says. The turnaround specialist highlighted inflation headwinds were fully offset in 2022, with improved second-half momentum after a GBP30 million shortfall in recovery in 1Q, and restructuring benefits were achieved as planned, RBC analysts say in a note. "We highlighted... that our 2022 forecasts were around 4% ahead [of market consensus] and the trading update suggests consensus upgrades of 2%-3% are possible for the full-year just from the DemergerCo," the Canadian bank says. RBC retains its outperform rating and 165 pence price target on the stock. Melrose closed Wednesday at 149.65 pence. (joseph.hoppe@wsj.com)
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Sage Group's 1Q Update Likely to Lead to Full-Year Upgrades
0814 GMT - Sage Group's first-quarter update backs expectations of further growth acceleration despite a toughening macroeconomic environment, Citi says. The software company has reported positive trends continuing into the new year, and investors should expect market consensus for 2023 recurring revenue growth to move toward 10.5%, from around 9.8%, Citi analysts say in a research note. "The positive trends continue to be driven by the Sage business cloud, and in particular cloud native portfolio, suggesting new customer acquisition momentum remains intact," the U.S. bank says. Citi retains its buy rating and 920 pence price target. Shares are up 1.1% at 784.0 pence. (joseph.hoppe@wsj.com)
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Pound May Benefit in Long-Run From UK Labour Party's Plans For Brexit Fix
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01-19-23 0424ET
