Secure Trust Bank PLC said Thursday that new business lending fell 11% in the fourth quarter after the company tightened credit criteria due to the current macroeconomic environment.
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Kooth Sees 2022 Revenue in Line Market Views as Expansion Progresses
Kooth PLC said Thursday that it expects to report 2022 revenue in line with market expectations as it looks to expand across the U.K. and into the U.S.
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Keywords Studios Names Donald Robert as Next Chairman
Keywords Studios PLC said Thursday that Donald Robert has been appointed chairman designate effective Feb. 1, and that he will become chairman at the company's annual general meeting in May.
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Arecor Therapeutics Sees 2022 Meeting Market Expectations
Arecor Therapeutics PLC said Thursday that it expects to report 2022 results in line with market expectations, and that it closed the year with a strong cash balance.
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CPPGroup Sees 2022 Revenue From Core Business Rising, Earnings Beating Market Views
CPPGroup PLC said Thursday that it expects 2022 revenue from continuing operations rose and earnings from continuing operations to beat market views, as it carries out its migration to an insurtech business.
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Kodal Minerals Shares Rise After $117.75 Mln Funding for Bougouni Lithium Project
Kodal Minerals PLC shares rose on Thursday after the company said it has agreed a $117.75 million conditional funding package for the Bougouni lithium project in Mali, and that it will dispose one of its projects.
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Dr. Martens Shares Dive After Profit Warning
Shares of Dr. Martens PLC fell as much as 28% on Thursday after the bootmaker warned on its performance, citing 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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Brooks Macdonald CFO to Step Down
Brooks Macdonald Group PLC said Thursday that Chief Financial Officer Ben Thorpe has decided to leave the company.
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Moelis & Company hires UBS veteran Fahrholz to bolster London office -- Financial News
The boutique has said it will continue to hire as rivals cut back
Market Talk:
Boohoo Might Face Further Earnings Downgrades
1127 GMT - Boohoo Group shares fall 9% after the online fashion retailer reported lower revenue in the four months to Dec. 31, though it forecast annual adjusted Ebitda in line with market expectations. The company has reduced its revenue guidance and narrowed its adjusted Ebitda margin guidance for the year ending Feb. 28, implying a result 4% short of consensus Ebitda expectations, RBC Capital Markets says. "We lack confidence in Boo's top-line recovery, especially while its international proposition remains uncompetitive," RBC analysts say in a note. "As such, we view Boohoo as vulnerable to further market-share loss, with potential for further Ebitda downgrades." (philip.waller@wsj.com)
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Sage Group Looking More Confident With 1Q Update
1132 GMT - Sage Group's first-quarter update provides further evidence of a more confident narrative coming from the company, with recent annual recurring revenue progress and reiterated outlook, Shore Capital says. The software company confirming guidance is reassuring but unlikely to lead to market consensus upgrades--though it could improve near-term sentiment, Shore analyst Martin O'Sullivan says in a note. "Today's new information incrementally supports our view that the company's organic revenue growth prospects are promising and are likely to be resilient owing to its recurring revenue model and diversified customer base for whom the group's software is business critical," the investment group says. Shore retains its buy rating and fair value of 920 pence a share on Sage's stock. Shares are down 0.9% at 769.2 pence. (joseph.hoppe@wsj.com)
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Bakkavor Faces Continued International Business Concerns
1135 GMT - Bakkavor's update showed that its U.K. business execution is going according to plan, but that international sales are facing persistent problems, Shore Capital analysts Clive Black and Darren Shirley say in a note. The provider of prepared food reported like-for-like revenue growth of 14.3% for 2022 in the key U.K. market, driven mainly by higher prices, implying modest volume gains, they say. However, its China business faced significant negative external factors, while U.S. sales growth was impaired by an continuing contractual dispute, the analysts add. "Whether Bakkavor's International operations are right or not for the business will be a debate that is not extinguished by this update," they add. (michael.susin@wsj.com)
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Sage's 1Q Update Shows Promise of Its Organic Revenue Growth
1142 GMT - Sage Group's first-quarter update was reassuring and incrementally supports Shore Capital's view that the company's organic revenue growth prospects are promising and are likely to be resilient thanks to its recurring revenue model and diversified customer base, analyst Martin O'Sullivan says in a research note. The software company's organic recurring revenue growth was driven by growth in cloud-native and cloud-connected solutions, he adds. Shore Capital has a buy rating on the stock. (kyle.morris@dowjones.com)
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Hotel Chocolat's Strong Christmas Should Support Earnings Targets
1214 GMT - Hotel Chocolat enjoyed record seasonal sales in the run up to Christmas, boosting confidence that the company can hit its strategic target of 20% Ebitda margins by 2025, Liberum analysts say in a note. "Footfall dynamics are robust highlighting the appeal of the brand and its diverse product range," they say. In addition, Hotel Chocolat's store recovery is likely provide further margin expansion as cost efficiency projects that start to flow, the analysts say. Shares rise 9.7%. (michael.susin@wsj.com)
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Deliveroo Could Revive Share Price Once It Shows Profits
1339 GMT - Deliveroo is still losing money despite it trumpeting an improvement in adjusted Ebitda, AJ Bell investment director Russ Mould says in a research note. On a positive note, 4Q gross transaction value rose 9% on year and 9% for the whole of 2022, though 4Q orders fell 2% on year as consumers face the cost-of-living crisis, he says. "Deliveroo could yet revive its share price, if it can show profits and cash flow, and it is adjusting to the new reality by retreating from certain markets, such as Spain, the Netherlands and Australia, and focusing on those where its competitive position is stronger," he says. Analysts don't expect the company to report an unadjusted profit until 2025 at the earliest, he says. (kyle.morris@dowjones.com)
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
01-19-23 0913ET
