UK House Prices Falling Faster than Expected - -2-

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.

 
Market Talk: 

Workspace Shares Look Cheap Given Solid Performance

1104 GMT - Workspace Group's third-quarter business update shows a solid letting performance, which stands in stark contrast to the low price its shares command, RBC Capital Markets says. The office-rental company's short lease lengths, skew toward small to medium enterprise tenants, and the economic sensitivity of office markets in general mean its near-term earnings are likely to be particularly hurt by recession, RBC analysts say in a research note. "However, we believe that this is more than reflected in a share price 62% below its prepandemic levels, given the structural growth in demand for more flexible office space and Workspace's strong position within this broad based sub-market," the Canadian bank says. RBC retains its outperform rating on the stock with a 625-pence price target. Shares are up 0.2% at 494.8 pence. ([e-mail])

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Boohoo's Sales Could Continue to Fall

1102 GMT - Boohoo is considered one of the "pandemic falling stars" as it continues to suffer from a challenging consumer backdrop, IG Group chief market analyst Chris Beauchamp says in a note as shares fall 9.4%. The online fashion retailer is expected to have its sales under pressure and to keep falling as consumer spending squeezes despite severe cost-saving measures and rationalizing across the board, Beauchamp says. Boohoo shares reached record highs of 413.0 pence during the pandemic and currently trade at 42.95 pence. ([e-mail])

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Deliveroo Update Shows Potential of Sector

1052 GMT - Deliveroo's outperformance on profitability in the second half follows similar news from Just Eat Takeaway.com, showing there is potential in a sector currently pricing gross transaction value stagnation and limited profitability, Jefferies analysts say in a research note. "There is now clear upwards pressure to 2023 guidance and consensus," they say. Jefferies has a buy rating on the London-listed food-delivery company's stock with a target price of 155.00 pence. Shares trade up 0.3% at 92.32 pence. ([e-mail])

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Melrose Industries' Demerging Businesses Show a Strong 2022

1041 GMT - Melrose Industries' 2022 business update for its "DemergerCo" set of businesses--Automotive, Powder Metallurgy and Hydrogen, all to be spun-off--details a strong performance, reflecting the benefits of restructuring and the catch-up from the GBP30 million inflation lag in the first half, Peel Hunt says. "The detail to come from today's [capital markets day] and demerger documentation will enable us to separate companies in terms of central cost, debt and pension allocation," Peel Hunt analysts say in a research note. Peel Hunt retains its buy rating but cuts its price target on the stock to 195 pence from 285 pence, which it said reflects its sum-of-the-parts on the demerger, compared to its previous return on equity investment model. Shares are down 1.7% at 147.15 pence. ([e-mail])

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Sage Group's 1Q Beat Bryan Garnier's Expectations

1037 GMT - Sage Group's first-quarter revenue may have met management expectations but it exceeded the trend Bryan Garnier expected for the first half, with some acceleration in recurring and subscription revenue growth driven by new customer acquisition and migrations. The software company's activity hasn't been perceptibly hit by the recession at this stage, especially since small-medium businesses continue to prioritize tech investment to streamline processes and productivity and do more with less, Bryan Garnier analysts say in a research note. "We expect the share price to react positively to this publication," the European investment bank says. Bryan Garnier retains its neutral rating and 830 pence price target on the stock. Shares are down 0.7% at 770.4 pence. ([e-mail])

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Deliveroo Investors Expect Steps Toward Profitability

1035 GMT - Although Deliveroo's 4Q update is nothing to write home about, it does represent progress in what is a challenging market, eToro analyst Adam Vettese says in a note. The food delivery company said it roughly broke even in 2H, helped by a steady rise in the value of consumer orders and tight cost control, but while the gross value of each transaction is rising, customers are placing less orders - down 2% on year in the period, Vettese says. The company said it won't issue full-year guidance until March and this is expected to be exceptionally cautious considering the current environment, he says. "At the very least, investors will expect the firm to take another step toward profitability," Vettese says. ([e-mail])

Contact: London NewsPlus; [e-mail]

(END) Dow Jones Newswires

01-19-23 0625ET