Some Optimism for UK Housing Market but More Price Falls Expected
1248 GMT - Although there's some early optimism for the U.K. housing market in the latest Royal Institution of Chartered Surveyors survey, the sector is still slowing, with expectations for further price falls this year as macroeconomic headwinds weigh, Interactive Investor says. The survey reported a smaller-than-expected fall in the key house price balance and a shrinking negative reading on new buyer enquiries, Interactive head of investment Victoria Scholar says in a market comment. The market has been grappling with issues including rising mortgage rates and a cost-of-living crisis, along with sluggish economic growth, Scholar says. "The economic uncertainty with the revival of inflation post-pandemic and the Ukraine war has resulted in many would-be buyers holding off in anticipation mortgage rates and house prices will fall further this year," Scholar says. (joseph.hoppe@wsj.com)
COMPANIES NEWS:
ConvaTec Group 2022 Pretax Profit Fell on Higher Charges; Revenue Rose
ConvaTec Group PLC said Thursday that pretax profit fell in 2022 on higher expenses and charges, despite higher revenue, and raised its dividend payout.
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Aviva Swung to 2022 Pretax Loss; Launches GBP300 Mln Buyback
Aviva PLC on Thursday posted a swing to pretax loss for 2022 as it was hit by adverse market movements and launched a 300 million-pound ($355.3 million) share buyback.
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DS Smith Says Positive 1H Trends Have Continued Into 2H
DS Smith PLC said Thursday that positive trends experienced in the first half of the year have continued into the second, and performance has been in line with the board's expectations.
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Informa 2022 Pretax Profit, Revenue Rose; Buys Tarsus for $940 Mln
Informa PLC said Thursday that pretax profit and revenue rose for 2022 and that it was buying Tarsus for $940 million.
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Spirax-Sarco Engineering 2022 Pretax Profit Fell, Missed Consensus on Higher Costs
Spirax-Sarco Engineering PLC said Thursday that 2022 pretax profit fell and missed consensus after booking higher costs, and that it expects sales and adjusted operating profit to be more weighted toward the second half of 2023.
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Endeavour Mining 4Q Profit Fell on Impairments; Revenue Rose
Endeavour Mining PLC said Thursday that it swung to a fourth quarter pretax loss on a one-off impairment of goodwill, though revenue rose.
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Entain 2022 Revenue, Earnings Rose: US JV Set to Be Ebitda Positive in 2H 2023
Entain PLC said Thursday that revenue and underlying earnings rose in 2022 and that it expects its U.S. joint venture to be Ebitda positive in the second half of 2023.
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M&G Swung To 2022 Pretax Loss; Says On Track To Meet 2024 Capital Generation Target
M&G PLC on Thursday reported a swing to 2022 pretax loss and said it is on track to meet its capital generation target by the end of 2024.
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Hammerson 2022 Net Loss Narrows on Lower JV Losses, Property Revaluations
Hammerson PLC on Thursday reported a narrowed net loss for last year--beating market forecasts--after reporting lower losses from joint ventures and revaluations on properties.
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Alliance Trust Swung to 2022 Pretax Loss Amid Inflation, Ukraine War, Higher Interest Rates
Alliance Trust PLC said Thursday that it swung to a pretax loss in 2022 amid high inflation, the war in Ukraine and higher interest rates.
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Harbour Energy 2022 Net Profit Fell Due to UK Tax Charge; Launches $200 Mln Buyback Program
Harbour Energy PLC said Thursday that 2022 net profit fell and missed consensus after booking a $1.5 billion one-off non-cash deferred tax charge associated with the U.K.'s Energy Profits Levy, and that it was launching a $200 million share buyback program.
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HSBC Says IFRS 17 Implies Lower 2023 Net Interest Income Guidance, 1H 2022 Figures
HSBC Holdings PLC on Thursday said its net interest income guidance for 2023 is expected to be lower under the IFRS 17 accounting standard, which it said will only change the timing of profit recognition.
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Franchise Brands 2022 Pretax Profit, Revenue Rose Driven by B2B Division
Franchise Brands PLC said Thursday that pretax profit rose significantly in 2022 on higher revenue, beating expectations and driven by record growth at its business-to-business division.
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Kier Group 1H Profit Doubled on Strong Operations; Order Book Grows
Kier Group PLC said Thursday that its pretax profit for the first half of fiscal 2023 doubled despite flat revenue, and its order book rose.
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Domino's Pizza FY 2022 Pretax Profit Fell on Costs, Interest Rates; Sees Higher FY 2023 Ebitda
Domino's Pizza Group PLC said Thursday that fiscal 2022 pretax profit fell on technology platform costs and interest rates, and that it expects higher profitability for the year ahead.
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PageGroup 2022 Pretax Profit, Revenue Rose Amid Record Performance
PageGroup PLC said Thursday that pretax profit and revenue rose in 2022, with a record performance in 27 countries.
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Town Centre Securities Swung to 1H Loss on Property Valuation Losses
Town Centre Securities PLC said Thursday that it swung to a pretax loss in the first half of fiscal 2023, driven by property valuation falls.
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IQE Sees 1H 2023 Revenue to Decline GBP30 Mln on Weakening Demand
Shares of IQE PLC fell 27% in early trade on Thursday after the company said that it expects revenue for the first half of this year to fall around 30 million pounds ($35.5 million) due to inventory build-up throughout the supply chain as demand weakens.
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Jarvis Securities Shares Fall on Lower 2022 Pretax Profit; Model B Client Base Cut
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CHP Software and Consulting to Raise GBP22 Mln From Alfa Financial Shares Sale
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Hansard Global 1H Pretax Profit Rose Despite Dip in Fees, Commissions
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WANdisco Shares Suspended After Discovery of Potentially Fraudulent Irregularities
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NWF Sees Fiscal 2023 Pretax Profit Beat on Strong 3Q
NWF Group PLC said Thursday that it expects to beat market expectations for fiscal 2023 pretax profit, driven by strong trading in the third quarter and its acquisition of Sweetfuels Ltd which it bought in December.
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N4 Pharma's Pretax Loss Narrowed in 2022 on Lower R&D Costs
N4 Pharma PLC on Thursday reported a narrowed pretax loss for 2022 on lower R&D costs and said that it is financially well positioned to complete work streams for the year ahead.
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Atlantic Lithium Shares Rise on Trading Restoration, Rejection of Short-Seller Allegations
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Silver Bullet Data Services Sees Ebitda in Line, Revenue Growth of More Than 50% for 2022
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EnSilica to Raise Up to GBP2.5 Mln via Discounted Placing, Subscription, Retail Offer
EnSilica PLC said Thursday it will raise up to 2.5 million pounds ($3 million) via a discounted placing, a subscription and a retail offer and that it will use proceeds to respond to "additional sector and contract momentum," and strengthen the balance sheet.
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Alpha Financial Sees Fiscal 2023 Results Ahead of Market Views
Alpha Financial Markets Consulting PLC said Thursday that it expects to report results for fiscal 2023 significantly ahead of market views, boosted by performance in North America.
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Network International 2022 Pretax Profit Rose, Sees Higher 2023 Ebitda Margin
Network International Holdings PLC said Thursday that pretax profit rose 32% in 2022 on revenue growth across its markets, and that it sees a higher profitability margin in 2023.
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Volution Group 1H Pretax Profit Edges Up Amid Broad-Based Growth
Volution Group PLC said Thursday that pretax profit rose in the first half of fiscal 2023 on higher revenue, with growth experienced in all regions.
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Bens Creek CFO Murat Erden Resigns
Bens Creek Group PLC on Thursday said that Murat Erden has resigned from his position as chief financial officer and that current finance controller Arondeep Binnig will assume the day-to-day responsibilities of the role.
MARKET TALK:
WANdisco's Potential Fraud Looks Like a Nightmare
(MORE TO FOLLOW) Dow Jones Newswires
03-09-23 0920ET
