UK Retail Sales Outlook Faces Concerns Amid Cost of Living Crisis
0843 GMT - The 0.3% on month fall in U.K. retail sales in February is a sign of what is to come in the next few months, when further rises in both inflation and interest rates are likely to hit consumer spending, Capital Economics says. Households are in for a prolonged period of negative real wage growth, and in this context it seems inevitable that consumers will continue to pare back spending in the coming months, the economic-research firm says. "It is hard to see how overall consumer spending growth will make much headway over the remainder of this year," CE says. (xavier.fontdegloria@wsj.com)
Companies News:
J.P. Morgan Sells 60 Million Shares in Airtel Africa for Singapore Telecom at 140 Pence Each
J.P. Morgan Securities PLC said Friday that Singapore Telecom International Pte has sold 60 million ordinary shares in Airtel Africa at a price of 140 pence each.
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Anglo American Sells Remaining Stake in Thungela Resources for $115 Mln
Anglo American PLC said Friday that it has sold its remaining shareholding in Thungela Resources Ltd. via a discounted accelerated bookbuild placing aimed at major financial institutions.
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Smiths Group 1H Pretax Profit Rose on Strong Demand; Backs Guidance
Smiths Group PLC said Friday that first-half pretax profit and revenue rose, and that it is confident in meeting guidance for the full year.
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Airtel Africa Closes Tower Sale in Malawi for $54.7 Mln
Airtel Africa PLC said Friday that it has reached the first closing of the transaction to sell its telecommunications tower company in Malawi to Helios Towers PLC for $54.7 million.
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United Utilities Expects 3% Revenue Rise for FY 2022
United Utilities Group PLC said Friday that it expects a 3% rise in revenue for fiscal 2022, and that its performance was in line with the board's expectations for the year.
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CyanConnode to Raise GBP2 Mln Via Discounted Share Placing, Subscription Offer
CyanConnode Holdings PLC said Friday that it is proposing to raise two million pounds ($2.6 million) via the issue and subscription of shares in the company at a discounted price.
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Everyman Media 2021 Pretax Loss Narrowed as Covid-19 Measures Eased
Everyman Media Group PLC said Friday that its pretax loss for 2021 narrowed while revenue more than doubled as coronavirus pandemic restrictions were relaxed compared from the year before, though not entirely eliminated.
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Petropavlovsk Says It Can't Pay Gazprombank Loan Due to Sanctions
Petropavlovsk PLC said Friday that it is currently prohibited from making a $560,000 loan payment due to the inclusion of Gazprombank on the U.K.'s sanctions list in relation to Russia's invasion of Ukraine.
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Aeorema Communications Swings to 1H Pretax Profit on High Demand
Aeorema Communications PLC said Friday that it swung to a pretax profit for the first half of fiscal 2022 on increased revenue after it experienced strong demand.
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Wickes 2021 Pretax Profit Rose on Market Share Gains
Wickes Group PLC on Friday reported an increase in pretax profit for 2021, driven by further market-share gains and its digital strength.
Market Talk:
Smiths Group Delivers Strong 1H but Retains Guidance -- Market Talk
0810 GMT - Smiths Group delivered a solid first half to the year, outperforming earnings before interest and taxation market expectations by 3%, though it maintained full-year guidance, RBC Capital Markets says. The British engineering group keeps its full-year guidance of 3% organic revenue growth and speaks of strong demand in most customer end markets, though the company says supply-chain issues are a significant factor in the unchanged outlook, the Canadian bank notes. "The future strategy for accelerated growth is sound, but a lack of emphasis on margin progression means the market may need to see more proof before pricing in an improved outlook," RBC says. RBC retains its sector-perform rating and price target of 1,500 pence on Smith's stock. (joseph.hoppe@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
03-25-22 0501ET
