UK Real Estate Could Be Positioning for a Recession -- Market Talk

0821 GMT - The U.K. real estate sector is facing its toughest environment in over a decade as its shares fell by 22% on a year-to-day basis given the inflationary pressures, analysts at Berenberg Kieran Lee and Tom Horne say in a note. Despite that inflation normally increases rental growth, the impeding recession pushes to a conservative view on it due to reduced consumer demand and squeezed margins, they say. Debt finances costs are forecast to increase by 61 basis points to 2027, topping with lower market investment volumes, the delay of development activity, higher central costs and reduced occupational demand, they add. (michael.susin@wsj.com) 


 
Companies News:

Bank of Ireland Appoints Gavin Kelly as Interim CEO

Bank of Ireland Group PLC said Wednesday that it has appointed Gavin Kelly as its interim chief executive and executive director while it searches for the successor of outgoing Chief Executive Francesca McDonagh.

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GRC International FY 2022 Pretax Loss Narrowed as Billings Rose

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Shoe Zone Sees FY 2022 Adjusted Pretax Profit of Not Less Than GBP10.5 Mln

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Dalata Hotel Swung to 1H Pretax Profit as Revenue Rose 9% Above 2019 Levels

Dalata Hotel Group PLC said Wednesday that it swung to a pretax profit in the first half of 2022 as revenue rose 9% above levels seen in 2019, and that it is cautiously optimistic about its performance for the remainder of the year.

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Bank of Cyprus 1H Pretax Profit Jumped, Boosted by Interest-Rate Environment

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Polarean Imaging 1H Pretax Loss Widened on Greater Expenses, FX Losses

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System1 to Launch Strategic Review for Growth, Increasing Shareholder Value

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Fulham Shore Says Performance Resilient, in Line With Views Despite Challenges

Fulham Shore PLC said Wednesday that its performance to date was resilient and in line with management expectations despite the turmoil in the U.K. economy and recent train strikes.

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Cake Box Warns About Missing FY 2023 Market Views Due to Lower than Expected Franchise Sales

Cake Box Holdings PLC said Wednesday that it expects to miss market expectations for the fiscal year ending March 31, 2023, as a result of a worsened trading environment and lower-than-expected sales at the franchise level during July and August.

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Esken's Renewables Business on Track to Meet FY 2023 Views; Sees Small Ebitda Hit to Aviation

Esken Ltd. said Wednesday that its renewables business is on track to meet its earnings expectations for fiscal 2023, though it also expects a small Ebitda hit to its aviation business as its airport logistics partner ceases operations.


Contact: London NewsPlus; paul.larkins@wsj.com

(END) Dow Jones Newswires

08-31-22 0548ET