UK Supermarkets Forecast to Relatively Outperform Retail Sector
0813 GMT - Shore Capital says it can't be sure that the set of earnings of U.K. supermarkets, nor their supply chains, will be immune to the effects of the current cost inflation environment. However, the nature of grocery means that it will retain resilient economic characteristics assuming some effective U.K. government intervention, especially since the supermarket's balance sheets and solvency rates are strong and robust, the U.K. investment group says in a note. "In such contexts, the supermarkets are likely to continue to relatively outperform the more discretionary retail set," Shore says. (sabela.ojea@wsj.com; @sabelaojeaguix)
Companies News:
Petroneft Resources Shares Fall on Continuing Nord Imperial Dispute
Shares in Petroneft Resources PLC fell Tuesday after the company said that it was progressively shutting down its wells at Russia's License 61 field as Nord Imperial LLC temporarily suspended the acceptance and transfer of oil from the field.
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Bigblu Broadband 1H Adjusted Earnings Flat, Revenue Rose After Strength in Australia
Bigblu Broadband PLC said Tuesday that adjusted earnings were flat on year and that revenue grew as it saw strength in its Australian business and churn rates reduce.
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Bunzl 1H Pretax Profit, Revenue Rose; Raises 2022 Operating Margin Expectations
Bunzl PLC said Tuesday that its first-half pretax profit and revenue rose, driven both by acquisitions and organic growth, and raised its full-year operating margin expectations.
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Surface Transforms Awarded GBP13 Mln Contract by Battery-EV Company
Surface Transforms PLC said Tuesday that it has been selected as a Tier 1 supplier of a carbon ceramic brake disc to a battery-electric-vehicle company.
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Insig AI Draws Down GBP240,000 on Loans Agreements
Insig AI PLC said Tuesday that a further tranche of 240,000 pounds ($280,968) on two convertible loan facilities have been drawn down.
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Diurnal Group Agrees to High Premium $56.5 Mln Takeover by Neurocrine Biosciences
Diurnal Group PLC said Tuesday that it has agreed to a 48.3 million-pound ($56.5 million) takeover by Neurocrine Biosciences Inc.
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DP Poland's CFO to Step Down
DP Poland PLC said Tuesday that Chief Financial Officer Malgorzata Potkanska will step down with effect on Sept. 30.
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Joules Says Talks With Next Remain Positive, in Place
Joules Group PLC said Tuesday that it continues to be in talks with Next Plc about a potential equity investment in the company and the use of Next's total platform services to support its expansion plans.
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Revolution Beauty Shares to Be Suspended Due to Delayed FY 2022 Results
Revolution Beauty Group PLC said Tuesday that its shares will be suspended from AIM trading from Thursday as it will be unable to publish its audited results for fiscal 2022 on Wednesday.
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Braemar Shipping Services Raises FY 2023 Profit View on Exceptionally Strong Trading
Braemar Shipping Services PLC said Tuesday that it has raised its expectations for fiscal 2023 underlying operating profit after booking exceptionally strong trading during the first five months.
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Centralnic Swung to 1H Pretax Profit as Revenue Grew Due to Organic Growth
Centralnic Group PLC said Monday that it swung to pretax profit for the first half of 2022 as revenue grew on the back of continued organic growth supplemented by acquisitions, and that it is performing toward the high end of the board's forecasts.
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Biffa, Energy Capital Further Extend Takeover Decision Deadline
Biffa PLC said Tuesday that the deadline for private-equity firm Energy Capital Partner LLC to make a formal offer or walk away from takeover discussions has been further extended.
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Dechra Pharmaceuticals Buys US Veterinary Pharmaceutical Group Pharmex for $260 Mln
Dechra Pharmaceuticals PLC said Tuesday that it has acquired California-based veterinary pharmaceutical manufacturer Pharmex, Inc. for $260 million on a debt-free and cash-free basis.
Market Talk:
Bunzl Drops as Margin Outlook Underwhelms Investors
0841 GMT - Shares in Bunzl top the FTSE 100 fallers, down 4% after the distribution group's margin guidance disappointed investors. "Although it raised its operating-margin outlook, it's still expected to fall in the full year versus 2021," Interactive Investor Head of Investment Victoria Scholar says in a note, adding that while demand for the company's products rose during the pandemic, it has faced tougher times as conditions have become more normal. "The global geopolitical uncertainty and equity market turmoil weighed on the stock between April and June, but since the lows, Bunzl has enjoyed a strong uptrend, rallying by more than 20%. Shares are giving back some of those gains today." (philip.waller@wsj.com)
Bunzl Shares Slip on Disappointing Outlook
0834 GMT - Bunzl shares fell early in the session after its first-half earnings disappointed investors, Interactive Investment says. The distribution-and-outsourcing group raised its operating-margin outlook, but still expects its 2022 margin to fall on-year, Interactive Investor head of markets Victoria Scholar says in a research note. "The stock initially slumped to the bottom of the FTSE 100, shedding more than 5% but has since pared some of those losses," Scholar says. Global geopolitical uncertainty and equity market turmoil weighed on the stock between April and June but since the lows, Bunzl has enjoyed a strong uptrend, rallying by more than 20%. Shares are giving back some of those gains today, Interactive Investor says. Shares are down 4.2% at 2,984.0 pence. (joseph.hoppe@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
08-30-22 0606ET
