Sterling Recovers Toward Pre-Budget Levels, But Government Clarity Is Needed
0739 GMT - Sterling erases much of its losses against the dollar since Friday's mini budget, reaching a one-week high of $1.209, according to FactSet, but the government needs to clarify its plans sufficiently to avoid renewed declines, MUFG's Derek Halpenny says in a note. This week's intervention by the Bank of England and news that Prime Minister Liz Truss and Chancellor Kwasi Kwarteng will meet today with the head of the Office for Budget Responsibility has calmed trading in sterling. A YouGov opinion poll showing collapsing support for the ruling Conservative Party could encourage parliament opposition to the budget, Halpenny says. Still, the U.K.'s hefty external financing burden underlines the urgent need for clarity, he says. (email@example.com)
Cineworld 1H Pretax Loss Narrowed After Easing of Covid-19 Restrictions
Cineworld Group PLC said Friday that its first-half pretax loss narrowed as revenue rose after the easing of remaining Covid-19 restrictions in the first quarter.
Morses Club Remained Materially Lossmaking in 1H Due to Redress Claims
Morses Club PLC said Friday that it continued to be materially lossmaking in the first half of fiscal 2023 due to redress claims in its HCC division, and raised material uncertainty concerns.
JD Sports, Nike Partner to Offer Customer Rewards
JD Sports Fashion PLC said Friday that it has partnered with Nike Inc. to offer customer rewards.
Pennon Says 1H Performance In Line With Expectations
Pennon Group PLC said Friday that its performance for the first half ending Sept. 30 is in line with management expectations amid a volatile macroeconomic backdrop.
Dignity Swung to 1H Loss After Pricing, Product Mix Changes
Dignity PLC said Friday that it swung to a pretax loss for the first half of 2022 after market normalization post-Covid-19, an impairment and a significant change to the pricing and product mix.
Science in Sport Hangs Up 'For Sale' Sign; To Raise GBP5 Mln via Discounted Placing
Science in Sport PLC said Friday that it has started a review of the business that could lead to the sale of the company or some assets, and plans to raise 5 million pounds ($5.6 million) to support the business in the event of a further downturn on the economy.
Numis Expects 33% Revenue Drop for FY 2022 on Weaker Capital-Markets Activity
Numis Corp. said Friday that it expects revenue to fall 33% in fiscal 2022 due to weaker capital-markets activity and a strong comparison in the previous year.
LoopUp Group 1H Revenue, Pretax Profit Fell
LoopUp Group PLC said Friday that revenue and pretax profit fell in the first half of the year.
Real Good Food Says Early FY 2023 Was Challenging; Volumes Slipped
Real Good Food PLC said Friday that market conditions in early fiscal 2023 have been challenging, with volumes down both on year and compared with prepandemic levels, and it expects to take further cost-cutting measures.
Live Company Group 1H Pretax Loss Narrowed as Revenue Soared
Live Company Group PLC on Friday said its first-half pretax loss narrowed as revenue jumped.
Ince Group Sees Lower Comparable 1H Performance But FY Trading to Increase
Ince Group PLC said Friday that its performance for the first half of fiscal 2023 isn't expected to show any improvement on a like-for-like basis compared with the same period a year earlier, but that trading activity for the year as a whole is on track to increase.
DP Eurasia 1H Pretax Profit, Revenue Rose; Current Performance in Line With Views
DP Eurasia NV said Friday that pretax profit and revenue rose in the first half of 2022, reflecting robust growth in system sales, and that it is performing in line with the expectations of the board.
Science in Sport 1H Pretax Loss Widened on Russia Exit, Costs, Supply-Chain Issues
Science in Sport PLC said Friday that its first half pretax loss widened as it was hit by external headwinds, and despite a rise in revenue.
Ukrproduct Swung to 1H Loss as Ukraine War Weighs
Ukrproduct Group Ltd. reported on Friday that it swung to a loss in the first half of the year as the war in Ukraine disrupted the business and hit revenue.
Mode Global Holdings 1H Revenue Hurt by Market Volatility
Mode Global Holdings PLC said Friday that its first-half revenue was hit amid market volatility, but reported a slightly narrowed pretax loss.
Trackwise 1H Pretax Loss Widened Due to Exceptional Costs; Seeks Additional Funding
Trackwise Designs PLC said Friday that its pretax loss widened for the first half after it booked exceptional costs, and that it will need additional funding.
Fox Marble Holdings 1H Pretax Loss Widened on Takeover Costs
Fox Marble Holdings PLC on Friday said its pretax loss widened in the first half of the year due to costs incurred as part of the reverse takeover of Eco Buildings Group Ltd.
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(END) Dow Jones Newswires