New UK Home Sales Set to Fall Again, Goodbody Data Says

New UK Home Sales Set to Fall Again, Goodbody Data Says

1059 GMT - New U.K. home sales are set to swiftly fall again after a bounce in the year to date, triggering a decline in new homes asking prices, according to Goodbody research. The last five years of data for weekly sales trends suggest sales will fall beyond the first quarter, even without accounting for sharp declines in mortgage approvals and stretched first-time buyer affordability currently hitting the U.K. new homes market, Goodbody writes, according to its SiteWorks new homes market data. "A continued climate for major purchases consistent with [global financial crisis] levels is also indicative of weaker mortgage approvals to come," the Irish brokerage says. Barratt Developments and Persimmon are down 0.6% and 0.4% respectively, while Taylor Wimpey is up 0.5%. ([e-mail])

 
Companies News: 

Capita to Sell Resourcing Business to Inspirit Capital for GBP21 Mln

Capita PLC said Monday that it has agreed to sell its resourcing business to private equity investment company Inspirit Capital for 21 million pounds ($25.3 million) on a cash free, debt free basis.

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Kingswood Holdings Confirms Talks on Sale or Third Party Investment of U.K. Operations

Kingswood Holdings Ltd. on Monday said that talks have taken place on the potential sale or third party investment of its U.K. business operations as part of its strategic options, confirming recent press speculation.

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Seeing Machines 1H Pretax Loss Narrowed on Increased Revenue

Seeing Machines Ltd. said Monday that its pretax loss halved in the first half of fiscal 2023 as original equipment manufacturer revenue jumped 268% on year to $14.0 million.

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Craneware 1H Pretax Profit Falls Despite Higher Revenue; Sees FY 2023 in Line

Craneware PLC said Monday that pretax profit fell in the first half of fiscal 2023 after booking higher finance expenses and despite higher revenue, and that it sees results for the year in line with consensus.

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1Spatial Expects to Report FY 2023 Pretax Profit, Revenue Rise

1Spatial PLC said Monday that it expects to report a rise in pretax profit and revenue for fiscal 2023 and that momentum has continued into fiscal 2024.

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Clarkson 2022 Pretax Profit, Revenue Rose Boosted by Broking Division

Clarkson PLC said on Monday that its pretax profit rose in 2022 driven mainly by sales in its broking division, and raised its dividend.

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Home REIT Sees Two Tenants Representing 18% of Rent Enter Liquidation

Home REIT PLC said Monday that two tenants, making up a combined total of 18.2% of its annual rent, have entered creditors voluntary liquidation, and it has opened discussions with new prospective tenants.

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James Fisher Sells Nuclear Business for Nominal Sum; Sees 2022 Revenue Rising

James Fisher & Sons PLC said Monday that it has sold James Fisher Nuclear Holdings Ltd. and related properties to Rcapital Partners LLP for a nominal consideration, and it expects 2022 revenue to rise.

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Fusion Antibodies Sees Lower FY 2023 Revenue On Order Delays

Fusion Antibodies PLC on Monday said it expects its revenue and earnings for fiscal 2023 to be significantly lower than market expectations due to continued uncertainty over the timing of anticipated orders from project delays as clients seek further investment.

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ADVFN 1H Pretax Loss Widened Amid Management Disruptions

ADVFN PLC on Monday reported a swing to pretax loss for the first half of fiscal 2023 on lower revenue amid disruptions to management and structure changes in the period.

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GreenRoc Mining to Raise GBP550,000; Reaches Greenland Development Agreement

GreenRoc Mining PLC said Monday it aims to raise 550,000 pounds ($662,365) via a discounted placing which it will use toward its graphite project in Greenland, and that it signed a preliminary agreement with Norway's Leonhard Nilsen & Sonner AS in relation to the project's development.

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BATM Advanced Communications' 2022 Pretax Profit, Revenue Fall

BATM Advanced Communications Ltd. said Monday that 2022 pretax profit and revenue fell amid lower sales of Covid-19-related products.

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AssetCo to Buy Ocean Dial for GBP4.1 Mln

AssetCo PLC said Monday that it has agreed to buy Ocean Dial Asset Management Ltd. from Avendus Capital Asset Management for 4.1 million pounds ($4.9 million).

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Mac Alpha Raises GBP600,000 Via Share Issue

Mac Alpha Ltd. on Monday said it has raised 600,000 pounds ($722,580) via share issue and posted a pretax loss for the second half of 2022.

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Trellus Health Sees 2022 Ebitda Loss, Higher Revenue

Trellus Health PLC said Monday that it expects to report an Ebitda loss and higher revenue for 2022.

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Lookers Buys Fourways Vehicle Solutions

Lookers PLC said Monday that it has bought vehicle-hire and brokerage business Fourways Vehicle Solutions Ltd.

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MacFarlane Buys A.E. Sutton for GBP9 Mln

MacFarlane Group PLC said Monday that it has bought A.E. Sutton Ltd. for around 9 million pounds ($10.8 million), as part of the company's 'buy and build' strategy.

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Pantheon Resources Says Production at Alaska Well Has Restarted After Blockage

Pantheon Resources said on Monday that production restarted at its Alkaid #2 well in Alaska on Feb. 21 after the completion of the sand blockage clean-out.

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Power Metal Resources Swings to FY 2022 Net Profit

Power Metal Resources PLC on Monday reported a swing to net profit for fiscal 2022 after booking a capital contribution due to the completion of a capital reorganization by Golden Metal Resources PLC.

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Bluebird Merchant Ventures Raises $1.4 Mln Via Discounted Share Placing

Bluebird Merchant Ventures Ltd. said Monday that is has raised 1.2 million pounds ($1.4 million) via a discounted share placing and subscription to fund production at its Kochang gold and silver mine in South Korea.

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Adaptimmune to Buy TCR Therapeutics in $103M Stock Swap >ADAP TRCC

Adaptimmune Therapeutics PLC on Monday said it agreed to buy fellow cell-therapy company TCR Therapeutics Inc. in a stock swap worth around $103 million.

 
Market Talk: 

James Fisher's Nuclear Unit Disposal Looks a Smart Move

1046 GMT - James Fisher's disposal of its nuclear business for a nominal consideration of GBP3 is sensible and should facilitate the recovery of the group's profitability, Peel Hunt says. The marine-services provider's nuclear wing took a GBP800,000 provision in the first half of 2022 against an underperforming contract, and while it was hoped contracts would be awarded in the second half that would lift the unit back to GBP1 million-GBP2 million profitability, none have been announced so far, Peel Hunt analyst Alexander Paterson says in a research note. "We retain our hold rating and 400 pence price target but are confident in the quality of the group's core, market-leading operations," the brokerage says. Shares are down 5.3% at 370.0 pence. ([e-mail])

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Craneware's Customer Retention Boosts Hopes for Growth

1009 GMT - While Craneware's 2% organic growth reflected tough market conditions, a customer retention rate of more than 90% shows that the U.K.-based healthcare-software provider is proving resilient, Peel Hunt analysts say in a note. Inflation is currently limiting demand among new customers for its Trisus software, but this should improve in the medium term as the sector seeks to unlock cost efficiencies, they say. With strong customer retention figures validating the value of Trisus compared with peers, the building blocks for growth are now falling into place, the analysts say. Peel Hunt maintains a buy rating on the stock. Shares are up 2% at 1,530 pence. ([e-mail])

Contact: London NewsPlus; [e-mail]

(END) Dow Jones Newswires

03-06-23 0647ET