BOE's Gilt Sale Scheme 'Runs in the Background': Pill
0831 GMT - The Bank of England gilt sale operation is running "in the background" and is not responsive to monthly data news, said Bank of England economist Huw Pill at the Beesley lecture on Wednesday. The BOE began unwinding its holdings under the Asset Purchase Facility on November 1 with the sale of short-maturity and medium-maturity gilts. "The MPC has flagged that it will use Bank Rate as its active instrument to address new shocks as they emerge, leaving the QT programme to run 'in the background' as long as market conditions permit," Pill said. ([email protected])
Kingfisher Cuts FY 2023 Profit Views Amid Higher Investments
Kingfisher PLC said Thursday that profit for fiscal 2023 is expected to be lower than previously guided as the company increased investments and expenses.
Intertek Revenue Rose in 2H to Date; Sees 2022 Earnings Growth
Intertek Group PLC said Thursday that it is on track to deliver its full-year targets after booking 8.5% revenue growth at constant currency in the period from July to the end of October.
Dr. Martens 1H Pretax Profit Fell on Higher Costs; Boosts Dividend
Dr. Martens PLC said Thursday that pretax profit for the first half of fiscal 2023 fell amid higher costs, but increased its dividend payout to reflect its confidence in the future of the business.
Hornby 1H Loss Widened But Flags Strong Order Book
Hornby PLC said Thursday that its first-half loss widened, as it refrained from giving a full-year outlook ahead of the busy Christmas period.
TClarke Sees 2022 Revenue Below Expectations Despite Strong 2H to Date
TClarke PLC said Thursday that trading for the second half of the year to date has been strong, but revenue for the year will be less than previously planned, with 40 million pounds ($48.2 million) of that expected to be booked next year.
Mothercare 1H Pretax Profit Fell Amid Challenging Backdrop; Appoints New CEO
Mothercare PLC said Thursday that pretax profit for first half of fiscal 2023 fell dragged by lower sales and higher costs amid a challenging backdrop across its markets, and that Daniel Le Vesconte will be the company's new chief executive.
Safestore Holdings FY 2022 Earnings Rose; 4Q Revenue Increased
Safestore Holdings PLC said Thursday that it expects fiscal 2022 earnings to rise as it benefited from strong growth in U.K. revenue and good performances in other markets.
Jet2 Swung to 1H Profit on Strong Demand; Expects to Beat FY 2023 Market Views
Jet2 PLC said Thursday that it swung to a pretax profit in the first half of fiscal 2023 on a strong return of demand, and expects to exceed full-year market expectations.
MacFarlane Group Year to Date Revenue Up 11%; To Meet Full-Year Expectations
MacFarlane Group PLC said Thursday that revenue for the year to date is up by 11%, and that it expects full-year earnings to be higher than last year and to meet expectations.
PayPoint Upbeat on FY 2023, Declares Interim Dividend as 1H Revenue Rose
PayPoint PLC said it is confident for the remainder of the fiscal year and will pay a higher dividend, as first-half revenue grew across divisions.
Michelmersh Sees 2022 Beating Market Views; Kicks off GBP3 Mln Buyback
Michelmersh Brick Holdings PLC shares rose Thursday after it said that performance continued to be positive in the final quarter of 2022 and that it expects to beat full-year market views, and declared a share buyback of up to 3.0 million pound ($3.6 million).
Ince Group Raises GBP4.7 Mln via Placing, Retail Offer; More Than Planned
Ince Group PLC said Thursday that it has raised 4.7 million pounds ($5.7 million) via the share placing and retail offer first announced late on Wednesday, slightly more than planned.
XPS Pensions 1H Pretax Profit Fell; Sees FY 2023 Ahead of Views
XPS Pensions Group PLC said Thursday that it is confident its fiscal 2023 performance will be ahead of expectations, and that first-half pretax profit fell on higher costs despite a robust rise in revenue.
Morses Club Swung to 1H Loss as Redress Claims Weigh
Morses Club PLC said Thursday that it swung to a pretax loss in its first half, as it continued to flag uncertainty over its viability as a going concern amid customer redress claims.
Gateley (Holdings) 1H Revenue, Underlying Adjusted Pretax Profit Rose
Gateley (Holdings) PLC said Thursday that performance for the first half of fiscal 2023 has been robust, backed on increased sales business resilience despite the macroeconomic backdrop.
Intertek Sees Slower Products Growth in Four Months to October
0820 GMT - Intertek's group organic revenue growth for the July-to-October period was 5.6%, slightly below market consensus of 6.1%, driven by slowing new product development in its products division, Jefferies says. The inspection and product-testing company's revenue of GBP1.14 billion did exceed expectations by 2%, however, Jefferies analysts Allen Wells and Kean Marden say in a research note. "Full-year outlook is still for 'robust' like-for-like revenue growth, but margins are now expected 'below 2021'--versus 'slightly below' previously--which is unlikely to be seen as completely unexpected given the [peer] SGS SA warning last week, in our view," the U.S. bank says. Jefferies retains its hold rating and 4,200.0 pence price target on the stock. Shares are down 0.2% at 3,852.0 pence. ([email protected])
Kingfisher's Resilient Performance Shows Strategy Improvement
0805 GMT - Kingfisher reported a resilient third-quarter performance driven by better-than-expected sales despite a top-end guidance downgrade, RBC Capital Markets analysts Richard Chamberlain and Manjari Dhar say in a research note. The home-improvement retailer's three-month sales were GBP3.3 billion, above RBC's forecast of GBP3.2 billion, reflecting the introduction of a more effective trading strategy with improved digital offer, better inventory and cost control, they say. "We think the longer-term outlook for home improvement still looks resilient, with people spending more time at home, more wear and tear, plus in the UK a significant proportion of old and energy-inefficient housing," the analysts say. ([email protected])
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(END) Dow Jones Newswires
November 24, 2022 03:50 ET (08:50 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.