FTSE 100 Falls as Traders Weigh Earnings
0851 GMT - The FTSE 100 falls 0.3% to 7889 points as traders wade through a slew of corporate earnings. Beazley drops 4.8% after the insurer said net profit slumped 48% in 2022 on investment losses. Flutter Entertainment declines 3.8% after the gambling company posted a 17% drop in full-year adjusted pre-tax profit. Schroders declines 3.2% after reporting a 23% decline in annual pre-tax profit as assets under management fell. Consumer healthcare group Haleon and London Stock Exchange shed 2.9% and 0.9% respectively after posting full-year earnings. Building materials company CRH jumps 9.9% and turnaround specialist Melrose Industries gains 3.5% after both companies posted well-received results. (renae.dyer@wsj.com)
COMPANIES NEWS:
Cairn Homes 2022 Pretax Profit Rose on Higher Sales; Plans EUR40 Mln Buyback
Cairn Homes PLC said Thursday that 2022 pretax profit and revenue increased significantly on higher volumes, and outlined a 40 million-euro ($42.7 million) share buyback program.
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PPHE Hotel Group Swung to 2022 Pretax Profit as Revenue Rose on Rising Demand
PPHE Hotel Group Ltd. said Thursday it swung to a pretax profit for 2022 as revenue rose and beat market expectations on increased demand, and that the booking momentum has continued into January and February.
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Vesuvius 2022 Profit, Revenue Rose After Market-Share Gains
Vesuvius PLC said Thursday that pretax profit and revenue rose in 2022 as it made market-share gains despite tough markets and inflationary cost pressures.
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GreenX Metals' Shares Halted on ASX Pending Capital Raising
GreenX Metals Ltd. said Thursday that trading in its shares on the Australian Securities Exchange have been suspended ahead of a planned capital raising announcement.
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Coats Group 2022 Pretax Profit Fell Amid Slowed 2H Sales; Raises Dividend
Coats Group PLC said Thursday that 2022 pretax profit fell on year amid slowing sales in the second half-year, but increased its medium-term target and raised its dividend.
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Tyman 2022 Profit Slips on Lower Sales Volumes, Despite Revenue Rise
Tyman PLC said Thursday that its 2022 pretax profit slipped slightly on lower sales volumes, a restructuring charge and marginally higher net finance costs, though revenue rose 13%.
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Vertu Motors Five-Month Performance in Line With Views; Sees Lower Debt in FY 2023
Vertu Motors PLC said Thursday that its five-month performance was in line with board expectations while trading conditions are normalizing following an exceptional period across the sector.
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Fiske Swung to 1H Profit on Lower Operating Expenses
Fiske PLC said Thursday that it swung to a pretax profit in the first half of fiscal 2023, as a reduction in operating expenses offset lower commission revenue.
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ITV 2022 Revenue, Profit Rose After Strong Studios Division Performance -- Update
ITV PLC said Thursday that 2022 pretax profit and revenue rose as its ITV studios division revenue grew 19%.
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Funding Circle Swings to Pretax Loss in 2022; Delays Medium-Term Target
Funding Circle Holdings PLC on Thursday reported a swing to pretax loss for 2022, as earnings fell due to government-guaranteed loan schemes ending, and said it has pushed back its medium-term target.
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Victorian Plumbing Says FY 2023 Started Strongly, Five-Month Revenue Rose 10%
Victorian Plumbing Group PLC said Thursday that it has had a strong start to the new fiscal year to date, with revenue growth of 10% over the five months ended Feb. 28.
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Totally Shares Fall After FY 2023 Earnings Warning
Totally PLC shares fell Thursday after it said it expects fiscal 2023 earnings to miss market expectations from the combined effects of high inflation, national strikes and clinical workforce shortages.
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Flutter Entertainment 2022 Pretax Loss Narrowed; Sees 2023 US Operations Ebitda Positive -- Update
Flutter Entertainment PLC said Thursday that its pretax loss narrowed for 2022 as revenue grew, and that it expects its U.S. operations to be Ebitda positive for 2023.
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National Express 2022 Pretax Loss Widens; Dividend Reinstated
National Express Group PLC said Thursday that its 2022 pretax loss widened after booking higher costs, and that it plans to reinstate the dividend.
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Brooks Macdonald 1H Pretax Profit Fell, Backs FY 2023 Views
Brooks Macdonald Group PLC reported on Thursday a decline in pretax profit for the first half of fiscal 2023, dragged by lower revenue and higher costs, while funds under management rose.
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Capital & Regional Swung to 2022 Pretax Profit, Reintroduces Final Dividend
Capital & Regional PLC said Thursday that it swung to a pretax profit in 2022 and revenue rose on improved net rental income, and reintroduced a final dividend.
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HSS Hire to Report Market Beating 2022 Adjusted Ebitda
HSS Hire Group PLC said Thursday that it expects to report market beating adjusted Ebitda for 2022 on revenue that rose 10% on a like-for-like basis following a strong performance from its rental and service businesses.
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Metro Bank 2022 Pretax Loss Narrowed on Higher Interest Rates
Metro Bank PLC on Thursday reported a narrowed pretax loss for 2022 having benefited from higher interest margin and as legacy issues regarding U.K. regulatory investigations closed during the year.
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Grafton Group 2022 Profit, Revenue Rose as Trading Normalizes
Grafton Group PLC said Thursday that its 2022 pretax profit and revenue rose, with trading returning to more normalized levels and a strong performance from its businesses, brands and market positions.
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Schroders 2022 Pretax Profit Fell on Mark-To-Market Movements, Acquisition-Related Costs
Schroders PLC said Thursday that 2022 pretax profit fell due to mark-to-market movements and acquisition-related costs, and that 2023 started positively, particularly in its Schroders Solutions division.
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Hunting PLC 2022 Earnings, Revenue Rose; Sets Out 2030 Strategy for Growth
Hunting PLC said Thursday that it booked higher earnings in 2022, driven by increased revenue, and outlined a new strategy to 2030 to grow and stabilize profit through to the end of the decade.
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Capita 2022 Pretax Profit Hurt by Lower Disposal Gains, Impairment
Capita PLC on Thursday reported a 78% fall in pretax profit last year due to lower disposal gains, and after booking an impairment in its accounts against businesses within the portfolio division.
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London Stock Exchange 2022 Pretax Profit Rose on Lower Costs, Raises Dividend
London Stock Exchange Group PLC said Thursday that pretax profit for 2022 rose on the back of lower costs and supported by positive progress across all divisions, and raised its dividend.
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ITV 2022 Revenue, Profit Rose After Strong Studios Division Performance
ITV PLC said Thursday that 2022 pretax profit and revenue rose as its ITV studios division revenue grew 19%.
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Melrose Industries 2022 Pretax Loss Narrowed, Beating Consensus
Melrose Industries PLC said Thursday that its 2022 pretax loss narrowed, beating consensus, as revenue rose, and that the recovery in the aerospace sector is well under way.
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Taylor Wimpey 2022 Pretax Profit Rose But 2023 Sales Seen Falling
Taylor Wimpey PLC said Thursday that pretax profit grew in 2022 on higher selling prices, though it expects sales to fall in 2023.
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Haleon 2022 Pretax Profit Fell on Higher Costs; Inaugurates Dividend
Haleon PLC said Thursday that 2022 pretax profit slightly fell on the back of increased costs, and that it has started to payout dividends.
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Beazley 2022 Pretax Profit Hurt by Investment Losses But Beat Forecast
Beazley PLC on Thursday reported a 48% fall in pretax profit for last year due to investment losses, which offset a strong underwriting performance, but beat market forecasts.
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Flutter Entertainment 2022 Pretax Loss Narrowed as Recreational Customer Base Grew
Flutter Entertainment PLC said Thursday that pretax loss for 2022 narrowed as revenue rose as it booked growth in the recreational customer base.
MARKET TALK:
Capita's Results Broadly In-Line and Moving in the Right Direction
0916 GMT - Capita's 2022 results were broadly in-line with expectations though there are still many moving parts in the business, RBC Capital Markets says. The U.K. outsourcing company's results are unlikely to lead to material changes to forecasts--good news given the company's history--and further positive news on disposals should come overt the next six months, RBC analysts Andrew Brooke and Karl Green say in a research note. The share price looks to have material upside on a sum-of-its-parts basis, but it's clearly not without risks, they say. The Canadian bank retains its outperform rating and 40.0 pence price target. Shares are up 8.4% at 31.56 pence. (joseph.hoppe@wsj.com)
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Sterling to Fall if BOE Survey Shows Cooling Labor Market
0915 GMT - Sterling could fall if the Bank of England's latest Decision Maker Panel survey of chief financial officers continue to show an easing in tight labor market conditions, ING says. "Assuming those trends continue, GBP interest rates can continue to fall behind those of the eurozone and the U.S. and see some modest sterling downside," ING analyst Chris Turner says in a note. EUR/GBP could rise to 0.8930 from 0.8868 currently, he says. The survey is out at 0930 GMT. Meanwhile, BOE chief economist Huw Pill is likely to follow BOE Governor Andrew Bailey in sounding cautious about the outlook for interest rates in a speech at 1500 GMT, which could also weigh on sterling, Turner says. (renae.dyer@wsj.com)
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Taylor Wimpey's Dividend Policy Reiteration Is Reassuring
(MORE TO FOLLOW) Dow Jones Newswires
03-02-23 0435ET
