UK Inflation Expected to Fall Gradually in Months Ahead

UK Inflation Expected to Fall Gradually in Months Ahead

0805 GMT - U.K.'s annual inflation rate is expected to moderate in the coming months, Pantheon Macroeconomics' chief U.K. economist Samuel Tombs says in a note. Food and gasoline inflation will likely decline due to high-base comparisons, and the slump in shipping costs and recent slowing in producer prices should start to emerge in the data around the turn of the year, he says. Pantheon expects U.K. annual inflation to ease to about 9% by March from October's 11.1%, while the outlook beyond 1Q 2023 largely depends on the government's approach to subsiding energy prices. "The big picture is that inflation likely will remain above 2% throughout 2023, probably dissuading the Bank of England from pivoting to cutting interest rates next year," he says. ([e-mail])

 
Companies News: 

Experian 1H Pretax Profit Fell Amid Higher Costs; Backs FY 2023 Views

Experian PLC on Wednesday reported a fall in pretax profit for the first half of fiscal 2022 and reiterated its full-year guidance despite expecting the economic backdrop to be tougher over the year.

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Deliveroo to End Operations in Australia

Deliveroo PLC said Wednesday that it has decided to stop operations in Australia as it doesn't hold a broad base of strong local positions, but said this won't change full-year guidance.

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British Land Swung to 1H Pretax Loss on Interest Rate Hikes; Raises Dividend

British Land Co. said Wednesday that it swung to a pretax loss in the first half of fiscal 2023 as portfolio valuations fell on rising interest rates, though revenue rose and it increased its dividend.

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Sage Group FY 2022 Profit Fell as Costs Rose

Sage Group PLC said Wednesday that fiscal 2022 pretax profit fell as costs increased due to a change in recurring and nonrecurring items, including higher net gains in the prior year from disposals.

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SSE Swung to 1H Pretax Loss After Booking Higher Costs; Backs Guidance

SSE PLC said Wednesday that it swung to a pretax loss for the first half of fiscal 2023 after booking higher costs, and backed its guidance for the year.

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CMC Markets 1H Pretax Profit Rose on Higher Market Activity

CMC Markets PLC said Wednesday that pretax profit for the first half of fiscal 2023 rose slightly as market activity accelerated, and that the group's expansion plans remain on track.

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McBride Performing in Line Year to Date Despite Challenging Market

McBride PLC said Wednesday that it has performed in line with expectations in the year to date, despite uncertainty in the political and macroeconomic environment.

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Mediclinic International 1H Boosted by More Inpatients, Day Cases

Mediclinic International PLC on Wednesday reported a 4.4% rise in pretax profit for the first half of fiscal 2023 on revenue that was boosted by more inpatient and day case admissions, but offset by lower average revenue per case compared with the pandemic-affected comparable period.

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Premier Foods 1H Pretax Profit, Revenue Rose on Brand Strength

Premier Foods PLC said Wednesday that pretax profit and revenue rose in the first half of fiscal 2023, with consistently strong growth recorded across its brand portfolio.

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Tullow Oil 10-Month Production Meet Views; Narrows 2022 Guidance Range

Tullow Oil PLC said Wednesday that production for 2022 is in line with expectations, and narrowed the range of its full-year guidance.

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Hill & Smith PLC Upgrades 2022 Operating Profit Views on Robust Performance

Hill & Smith PLC said Wednesday that it expects full-year operating profit to be ahead of market expectations as revenue continued to be robust.

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Senior 10-Month Performance in Line With Views; Maintains Full-Year Outlook

Senior PLC said Wednesday that it performed in line with management's expectations in the 10-month period ended October, and maintained its full-year guidance.

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CLS Holdings Expects 2022 EPS to Rise, Says It Is Well-Positioned for Future

CLS Holdings PLC said Wednesday that it is on track to meet market views for 2022 earnings per share, and that it is well-positioned to weather challenging economic conditions.

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IDOX FY 2022 Revenue, Adjusted Ebitda Rose in Line With Views

IDOX PLC said Wednesday that it expects to report an increase in revenue and adjusted earnings before interest, taxes, depreciation and amortization for fiscal 2022, in line with the board's expectations.

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Bridgepoint Backs 2022 Views Amid Resilient Performance

Bridgepoint Group PLC said Wednesday that it remains on track to achieve its full-year guidance despite the challenging macroeconomic backdrop.

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Beazley Raises Around GBP350 Mln via Discounted Placing

Beazley PLC said Wednesday that it has conditionally raised around 350 million pounds ($415.3 million) via a discounted placing, a subscription and a retail offer, missing a previously announced bookbuild target.

 
Market Talk: 

Sage's Recurring Revenue in Focus

0814 GMT - Sage Group's fiscal 2022 results should be well received by the market, with annualized recurring revenue a particular highlight, Jefferies analysts Charles Brennan and Alex Nguyen say in a research note. The FTSE 100 software group's ARR accelerated from 10% growth at the first half to 12% at the full year, a forward-looking measure of revenue growth. Sage has guided to an acceleration in fiscal 2023 recurring revenue, which should be welcomed, considering a normally conservative managment, they say. Jefferies has a buy rating on the stock with a price target of 780.00 pence. Shares are up 4.9% at 793.00 pence. ([e-mail])

Contact: London NewsPlus; [e-mail]

(END) Dow Jones Newswires

11-16-22 0353ET