Sterling Falls as Cautious Remarks From BOE's Bailey Weigh
0826 GMT - Sterling falls as investors continue to digest cautious remarks from Bank of England Governor Andrew Bailey on Wednesday about the outlook for interest rates. Bailey signalled that further rate rises weren't guaranteed and said he hasn't seen any data to justify the recent rise in the market's rate expectations. "We now expect the BOE to deliver one more 25bps hike this month but doubt that rates will need to rise as far as current market pricing," MUFG currency analyst Lee Hardman writes. The BOE's relatively cautious stance remains a negative factor for sterling in the near-term, he says. GBP/USD falls 0.6% to 1.1956 and EUR/GBP rises 0.3% to 0.8892. (renae.dyer@wsj.com)
COMPANIES NEWS:
Flutter Entertainment 2022 Pretax Loss Narrowed as Recreational Customer Base Grew
Flutter Entertainment PLC said Thursday that pretax loss for 2022 narrowed as revenue rose as it booked growth in the recreational customer base.
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Beazley 2022 Pretax Profit Hurt by Investment Losses But Beat Forecast
Beazley PLC on Thursday reported a 48% fall in pretax profit for last year due to investment losses, which offset a strong underwriting performance, but beat market forecasts.
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Haleon 2022 Pretax Profit Fell on Higher Costs; Inaugurates Dividend
Haleon PLC said Thursday that 2022 pretax profit slightly fell on the back of increased costs, and that it has started to payout dividends.
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Taylor Wimpey 2022 Pretax Profit Rose But 2023 Sales Seen Falling
Taylor Wimpey PLC said Thursday that pretax profit grew in 2022 on higher selling prices, though it expects sales to fall in 2023.
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Melrose Industries 2022 Pretax Loss Narrowed, Beating Consensus
Melrose Industries PLC said Thursday that its 2022 pretax loss narrowed, beating consensus, as revenue rose, and that the recovery in the aerospace sector is well under way.
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ITV 2022 Revenue, Profit Rose After Strong Studios Division Performance
ITV PLC said Thursday that 2022 pretax profit and revenue rose as its ITV studios division revenue grew 19%.
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London Stock Exchange 2022 Pretax Profit Rose on Lower Costs, Raises Dividend
London Stock Exchange Group PLC said Thursday that pretax profit for 2022 rose on the back of lower costs and supported by positive progress across all divisions, and raised its dividend.
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Capita 2022 Pretax Profit Hurt by Lower Disposal Gains, Impairment
Capita PLC on Thursday reported a 78% fall in pretax profit last year due to lower disposal gains, and after booking an impairment in its accounts against businesses within the portfolio division.
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Hunting PLC 2022 Earnings, Revenue Rose; Sets Out 2030 Strategy for Growth
Hunting PLC said Thursday that it booked higher earnings in 2022, driven by increased revenue, and outlined a new strategy to 2030 to grow and stabilize profit through to the end of the decade.
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Schroders 2022 Pretax Profit Fell on Mark-To-Market Movements, Acquisition-Related Costs
Schroders PLC said Thursday that 2022 pretax profit fell due to mark-to-market movements and acquisition-related costs, and that 2023 started positively, particularly in its Schroders Solutions division.
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Grafton Group 2022 Profit, Revenue Rose as Trading Normalizes
Grafton Group PLC said Thursday that its 2022 pretax profit and revenue rose, with trading returning to more normalized levels and a strong performance from its businesses, brands and market positions.
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Metro Bank 2022 Pretax Loss Narrowed on Higher Interest Rates
Metro Bank PLC on Thursday reported a narrowed pretax loss for 2022 having benefited from higher interest margin and as legacy issues regarding U.K. regulatory investigations closed during the year.
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HSS Hire to Report Market Beating 2022 Adjusted Ebitda
HSS Hire Group PLC said Thursday that it expects to report market beating adjusted Ebitda for 2022 on revenue that rose 10% on a like-for-like basis following a strong performance from its rental and service businesses.
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Capital & Regional Swung to 2022 Pretax Profit, Reintroduces Final Dividend
Capital & Regional PLC said Thursday that it swung to a pretax profit in 2022 and revenue rose on improved net rental income, and reintroduced a final dividend.
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Brooks Macdonald 1H Pretax Profit Fell, Backs FY 2023 Views
Brooks Macdonald Group PLC reported on Thursday a decline in pretax profit for the first half of fiscal 2023, dragged by lower revenue and higher costs, while funds under management rose.
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National Express 2022 Pretax Loss Widens; Dividend Reinstated
National Express Group PLC said Thursday that its 2022 pretax loss widened after booking higher costs, and that it plans to reinstate the dividend.
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Flutter Entertainment 2022 Pretax Loss Narrowed; Sees 2023 US Operations Ebitda Positive -- Update
Flutter Entertainment PLC said Thursday that its pretax loss narrowed for 2022 as revenue grew, and that it expects its U.S. operations to be Ebitda positive for 2023.
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Totally Shares Fall After FY 2023 Earnings Warning
Totally PLC shares fell Thursday after it said it expects fiscal 2023 earnings to miss market expectations from the combined effects of high inflation, national strikes and clinical workforce shortages.
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Victorian Plumbing Says FY 2023 Started Strongly, Five-Month Revenue Rose 10%
Victorian Plumbing Group PLC said Thursday that it has had a strong start to the new fiscal year to date, with revenue growth of 10% over the five months ended Feb. 28.
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Funding Circle Swings to Pretax Loss in 2022; Delays Medium-Term Target
Funding Circle Holdings PLC on Thursday reported a swing to pretax loss for 2022, as earnings fell due to government-guaranteed loan schemes ending, and said it has pushed back its medium-term target.
MARKET TALK:
Haleon's 2022 Earnings Missed Expectations, Guidance Seen as Mixed
0808 GMT - Haleon's 2022 earnings don't look so positive, given that the group beat market expectations on sales but missed EBIT, RBC Capital Markets analysts James Edwardes Jones and Emma Letheren say in a note. The consumer-healthcare business said it also expects slightly better-than-expected sales for 2023 but its margins will be worse than consensus, the analysts say. Neither does Haleon provide any update regarding its Zantac litigation, they add. RBC has a perform rating on the stock at a price target of 320 pence.(michael.susin@wsj.com)
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Taylor Wimpey's Early 2023 Shows Encouraging Improvements
0800 GMT - Taylor Wimpey's 2022 results came in broadly as expected and the house builder noted an improvement in early 2023 sales, Citi says. The company's performance is encouraging, but proving the sustainability of current trends is crucial for the market to become more optimistic on the possibility of strong volume deliveries in 2024-25, Citi analyst Ami Galla says in a research note. "Near term the outcome of renegotiating subcontracted trades is likely to provide more clarity on underlying build cost inflation and the resultant margin impact," the U.S. bank says. Citi retains its buy rating and 127 pence price target on the stock. (joseph.hoppe@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
03-02-23 0346ET
