Sterling Falls Vs Dollar, Rises Vs Euro; Little Moved by UK Budget
1403 GMT - Sterling remains lower against the dollar while rising against a weaker euro, showing little reaction after U.K. Treasury chief Jeremy Hunt refrained from delivering any major surprises in his spring budget. Hunt confirmed an extension to its energy price cap and extra childcare support while fuel duty will remain frozen and corporation tax will increase from 19% to 25%, as planned. GBP/USD trades at 1.2079, little changed after the budget. EUR/GBP falls to a 12-week low of 0.8718 from 0.8752 beforehand, although this is driven by lower European Central Bank interest rate expectations as Credit Suisse leads a decline in European shares after its largest investor said it wouldn't provide further financial support. (renae.dyer@wsj.com)
COMPANIES NEWS:
Burberry Names Kate Ferry as Next CFO
Burberry Group PLC said Wednesday that it has appointed Kate Ferry as chief financial officer with effect by early September 2023 at the latest.
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Keywords Studios 2022 Revenue, Profit Rise Amid Sustained Demand
Keywords Studios PLC said Wednesday that revenue and pretax profit rose for 2022 as the company saw sustained demand for content and a continuing trend toward external service provision.
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Balfour Beatty 2022 Profit Significantly Rose; Will Repurchase GBP150 Mln of Shares
Balfour Beatty PLC said Wednesday that its 2022 pretax profit significantly rose together with revenue, and it will repurchase a further 150 million pounds ($182.4 million) of shares over 2023.
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Trainline FY 2023 Revenue Rose on International Ticket Sales Growth
Trainline PLC said Wednesday that its revenue for fiscal 2023 jumped on strong growth in net ticket sales, and that it sees its adjusted core earnings for the year in line with views.
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Bloomsbury Publishing Sees FY 2023 Revenue, Profit Ahead of Views
Bloomsbury Publishing PLC said Wednesday that it expects to report revenue and profit materially ahead of views for fiscal 2023 after booking a strong performance at the end of the year.
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Kin & Carta 1H Pretax Loss Widened on Higher Costs
Kin & Carta PLC said Wednesday that pretax loss for the first half of fiscal 2023 has widened on the back of higher costs due to macroeconomic pressures.
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Hyve Group Agrees to GBP320 Mln Takeover by Providence Equity Partners
Hyve Group PLC said Wednesday that it has agreed to a 320 million pound ($389.1 million) takeover by private equity firm Providence Equity Partners LLP.
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Ferrexpo 2022 Profit, Revenue Fell Significantly Due to Ukraine War
Ferrexpo PLC said Wednesday that its 2022 pretax profit and revenue significantly fell, principally due to the Russian invasion of Ukraine.
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IG Group 3Q Trading Revenue Fell on Lower Activity
IG Group Holdings PLC on Wednesday said that its third-quarter net trading revenue fell on lower market volatility and a 5% drop in active client numbers reflecting quieter market conditions.
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Kingswood Holdings Sees 2022 Operating Profit Below Views on Delayed Transaction
Kingswood Holdings Ltd. said Wednesday that operating profit for 2022 is anticipated to come in below the board expectations on the back of lower U.S. investment banking revenues and a delayed transaction.
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Marshalls 2022 Pretax Profit Fell on Adjustments; Sees 2023 Volumes Decreasing
Marshalls PLC said Wednesday its 2022 pretax profit significantly fell due to adjusting items, and said it expects 2023 volumes to reduce.
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Chemring Order Book Increases, 90% of Expected Revenue Covered
Chemring Group PLC said Wednesday that its order book has increased 30% on year as 90% of the expected revenue is now covered, and that its expectations for fiscal 2023 are unchanged.
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Centaur Media 2022 Profit, Revenue Rose; Declares Second Special Dividend
Centaur Media PLC said Wednesday that 2022 revenue and pretax profit rose, and declared a second special dividend for the year.
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Tremor International Says It Isn't Currently In a Sales Process
Tremor International Ltd. on Wednesday confirmed it isn't currently in a sale process as it responded to press speculation.
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Versarien Raises GBP318,000 Via Share Placing
Versarien PLC said Wednesday that it has raised 318,000 pounds ($386,656) through a share placing and that proceeds will be used to continue the commercialization work of its products.
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SigmaRoc Wins Around $18 Mln as Claim Against Swedish Government Succeeds
SigmaRoc PLC said Wednesday that its claim to seek compensation from Sweden over a land-use restrictions dispute has been successful.
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FDM Group 2022 Pretax Profit Rise Driven by North America Sales
FDM Group (Holdings) PLC said Wednesday that pretax profit in 2022 rose, as revenue was driven by sales in North America, and that it has proposed a dividend.
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4imprint 2022 Revenue, Profit Rose; Declares Special Dividend
4imprint Group PLC said Wednesday that revenue and pretax profit rose significantly in 2022 after it booked strong momentum and that it was proposing a special dividend.
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Ariana Resources Sees 2023 Gold Production From Turkish Mine Decreasing
Ariana Resources PLC said Wednesday that gold production from its 23.5%-owned Kiziltepe mine in Turkey is expected to decrease in 2023.
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TruFin 2022 Pretax Loss Narrowed in Line With Views, Is Confident About Year Ahead
TruFin PLC on Wednesday said its pretax loss for 2022 narrowed slightly, in line with expectations, and that it is confident about the year ahead.
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Reabold Resources Gets GBP18.7 Mln Takeover Proposal From Portillion SPV O&G
Reabold Resources PLC said Wednesday that it has received an unsolicited takeover approach from Kamran Sattar on behalf of Portillion SPV O&G worth around 18.7 million pounds ($22.7 million) which it believes undervalues the company.
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Petra Diamonds Raises $72.1 Mln in Fourth Diamond Tender
Petra Diamonds Ltd. said Wednesday that it sold 505,398 diamond carats in the fourth tender of fiscal 2023 for $72.1 million, up from 305,366 carats for $42.3 million in the third tender.
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Advanced Medical Solutions 2022 Pretax Profit Rose; Declares Increased Dividend
Advanced Medical Solutions Group PLC said Wednesday that pretax profit rose in 2022, driven by strong sales in both units, and that it proposed an increased dividend.
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Frontier IP Swung to 1H Pretax Loss on Fall in Value of Exscientia Shares
Frontier IP Group PLC said Wednesday that it swung to a first-half pretax loss, driven by the fall in the value of its shares in Exscientia.
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HSBC cuts some senior dealmaker salaries by 25% -- Financial News
Newly-promoted managing directors in dealmaking roles will receive smaller salaries
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Ocean Harvest Technology to Float on London's Junior AIM
Ocean Harvest Technology Group PLC said Wednesday that it plans to float on London's junior AIM with trading expected to start on March 29.
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AltynGold Gold Output, Revenue Rose in 2022; Production Slipped in 4Q
AltynGold PLC said Wednesday that gold production and revenue rose in 2022, but that overall ore production slipped in the final quarter.
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Europa Oil & Gas CEO Steps Down; CFO William Holland Named Successor
Europa Oil & Gas (Holdings) PLC said Wednesday that Chief Executive Officer Simon Oddie has decided to retire from the role with immediate effect, and named Chief Financial Officer William Holland as its new CEO.
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Dianomi Cofounders Step Down from Roles, Board with Immediate Effect
Dianomi PLC said Wednesday that cofounders Raphael Queisser and Cabell De Marcellus will step down from their roles as chief operating officer and chief technology officer, respectively, and from the board with immediate effect.
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Purplebricks in Discussions With Strike Ltd. Over Participation in Sales Process
Purplebricks Group PLC said Wednesday that it has been in discussions with Strike Ltd. over their potential participation in the formal sales process for the company.
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Severfield Buys Voortman Steel Construction to Expand European Presence
Severfield PLC said Wednesday that is has agreed with Voortman Steel Construction Holding BV to buy the Netherlands-based company for 24 million euros ($25.8 million) to gain further access to the European market.
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Dialight Says Sanmina Litigation to Go to Court
Dialight PLC said Wednesday that a court has denied a motion for summary judgment from its former manufacturing partner Sanmina Corp. to dismiss certain elements of Dialight's claims and counter-claims in relation to the termination of their manufacturing services agreement.
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Synergia Energy Shares Fall After Going Concern Warning
Synergia Energy Ltd. shares fell up to 14% on Wednesday after the company said its half-year pretax loss widened and it said there is material uncertainty regarding its ability to continue as a going concern.
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John Lewis Partnership Appoints First CEO
John Lewis Partnership PLC said Wednesday that it has appointed Nish Kankiwala as the group's first chief executive officer, with effect on March 27.
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Volution Appoints Nigel Lingwood Chair Designate; Paul Hollingworth to Step Down
Volution Group PLC said Wednesday that Nigel Lingwood has been appointed chair designate and will succeed Paul Hollingworth as nonexecutive chair, effective June 23.
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Polyus 2022 Revenue, Gold Sales Fell on Lower Production
Polyus PJSC said Wednesday that its 2022 revenue and gold sales both declined on year on lower production.
MARKET TALK:
Deliveroo Set for Higher Revenue, Narrowed Pretax Loss for 2022
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03-15-23 1042ET
