CAPITA PLC Shell Needs to Build Upstream Longevity
1118 GMT - Shell needs to show it can fund its dividend from its core business in a sustainable way to build a positive investment case, as the expected dividend bump won't be enough, RBC Capital Markets says ahead of the oil major's Capital Markets Day next week. "In our view, this requires Shell to provide a path for upstream (+ integrated gas) volumes from current levels out to 2030," RBC analyst Biraj Borkhataria writes in a research note. While some investors fear upstream mergers and acquisitions, which would likely need to be paid in cash and therefore result in higher capital expenditure, these concerns could be squashed by incorporating inorganic activity into the capex budget, the analyst says. Shares are up 0.5% at 2.306,50. (christian.moess@wsj.com)
COMPANIES NEWS:
M&G's Assets Under Management and Administration Edged Up in 1Q
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Capita Agrees to Sell Noncore Software Businesses for Enterprise Value of GBP33 Mln
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Mitie Group's FY 2023 Pretax Profit Jumped on Contract Wins, Renewals and Extensions
Mitie Group said Thursday that its pretax profit more than doubled in fiscal 2023 on a revenue driven partly by contract wins, renewals and extensions.
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Galliford Try Receives GBP26 Mln in Settlement; Will Pay Special Dividend
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FirstGroup to Launch GBP115 Mln Buyback Program After Swing to FY 2023 Pretax Profit
FirstGroup said Thursday that it swung to a pretax profit for fiscal 2023 as revenue rose due to growth in First Bus and First Rail divisions, and that the board would propose a buyback program of up to 115 million pounds ($143 million).
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Churchill China on Track to Meet 2023 Profit Expectations
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Crest Nicholson Swung to 1H Pretax Profit Despite Revenue Slip
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CMA Says Hitachi-Thales Deal Could Reduce UK Competition
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Wizz Air FY 2023 Pretax Loss Narrowed Amid Record Passenger Numbers
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Glenveagh Properties Experiencing Strong Demand, Reiterates 2023 Guidance
Glenveagh Properties said Thursday that its market continues to benefit from very strong underlying demand and reiterated its 2023 guidance.
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Midwich Completes Share Placing at 425 Pence Each
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AdvancedAdvT to Buy Five Capita Units in Reverse Takeover; Shares Suspended
AdvancedAdvT said Thursday that its shares have been suspended under takeover rules as it has agreed to a reverse takeover of five non-core software businesses from Capita PLC.
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Hargreaves Services Expects to at Least Meet FY 2023 Market Views
Hargreaves Services said Thursday that it expects to at least meet market expectations for fiscal 2023, after a strong performance from its Services business and a better-than-expected contribution from its German joint venture.
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Gama Aviation's Pretax Loss Narrowed in 2022
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Altitude Group Sees FY 2023 Revenue, Adjusted Earnings Rise; FY 2024 Ahead of Year-Prior Period
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Camellia Sees 2023 Adjusted Pretax Profit Lower Than in 2022
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Shearwater Group FY 2023 Revenue Fell; Sees Market Conditions Improving in Current Year
Shearwater Group said Thursday it will report a fall in revenue for the year ended March 31 with adjusted Ebitda at around breakeven, and that fiscal 2024 has seen improving market conditions.
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Barryroe Offshore Shares Drop on Withdrawal of Placing, Open Offer
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Sopheon Making Progress in 2023 To-Date; Full-Year Revenue Visibility Rises
Sopheon said Thursday that it has made continued commercial progress in 2023 to-date, with full-year revenue visibility increasing to $31 million, from $28 million at the same time a year prior.
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RWS Holdings 1H Profit Slipped; Backs Full-Year Views and Discloses Buyback Intentions
RWS Holdings said Thursday that its first-half pretax profit slipped, though it expects its full-year results to at least meet guidance and market forecasts and declared share buyback intentions.
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Sabien Technology Flags Strong Sales of M2G Unit in FY 2023
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Boku Extends Share Buyback Program by Up to GBP10.5 Mln
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i3 Energy Plans to Cancel Share Premium Account to Open Cash Return Options
i3 Energy said Thursday that it is seeking shareholder approval to cancel its share premium account, giving it the ability to consider paying out dividends or other shareholder returns.
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Pantheon Resources Chairman to Step Down; David Hobbs Named Successor
Pantheon Resources said Thursday that Executive Chairman Phillip Globe intends to retire, and named David Hobbs as successor.
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IGas Appoints Chris Hopkinson as CEO, Philip Jackson as Nonexecutive Chairman
IGas Energy said Thursday that it has appointed Chris Hopkinson as chief executive officer Philip Jackson as nonexecutive chairman, effective immediately.
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R.E.A. Holdings' 1H to Be Hurt by Lower Prices, Exchange Rates, But Output Up on Year
R.E.A. Holdings said Thursday that fresh-fruit bunch output rose in the January to May period and that its first-half results will reflect the lower selling price of crude palm oil as well as a significant exchange loss stemming from the strengthening of the Indonesian rupiah against the U.S. dollar.
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Bonhill Group Shares Plummet on AIM Trading Cancellation Plan
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AOP Health Gets Zero Acceptances to Mandatory Offer for Shield Therapeutics
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CAB Payments Holdings Considers London Listing
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Fiinu 2022 Pretax Loss Widened, Sees Full UK Banking License in 2H
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Bank of Cyprus Raises Current, Next Year Targets on Higher Rates Expectations
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Entain Sees TAB NZ Partnership, 365scores Buy Delivering Earnings up to GBP20M in 2024
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MARKET TALK:
FirstGroup's Strong Balance Sheet Gives Buyback, Acquisitions Scope
(MORE TO FOLLOW) Dow Jones Newswires
06-08-23 0840ET
