Halifax's UK House Price Gains at Odds With Other Evidence, Goodbody Says
0929 GMT - Pricing in the U.K. housing market is proving resilient for now but the evidence is still stacked in favor of underlying weakness, Goodbody says, citing new Halifax data for February. Prices were up 1% on month in February on a seasonally adjusted basis and up 2% on an annual basis, according to the British banking brand's latest house-price index. But "other evidence tells a different story," Goodbody analyst Shaun McDonnell says in a note. "Our own SiteWorks analysis of the new homes market...suggests transactions will take a sharp fall in the coming months and we continue to expect high single-digit declines in 2023," the Irish brokerage says. Shares in Barratt Developments and Taylor Wimpey are up 0.2% and 0.6% respectively, while Persimmon shares are down 0.4%. (joseph.hoppe@wsj.com)
Companies News:
WPP Buys German Healthcare Specialist 3K Communication
WPP PLC said Tuesday that it has bought German healthcare specialist 3K Communication, strengthening its healthcare presence in Europe and expanding its operations in Germany.
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Fresnillo 2022 Pretax Profit, Revenue Fell On Lower Prices, Cost Inflation
Fresnillo PLC said Tuesday that pretax profit and revenue fell in 2022, hit by volatile precious metal prices and higher cost inflation among other pressures, and that it expects further macroeconomic pressures in 2023.
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John Wood Group Minded to Reject Latest 237 Pence a Share Proposal From Apollo
John Wood Group PLC said Tuesday that it has received a fourth cash proposal of 237 pence a share from Apollo Global Management, Inc which it said undervalues the group and is minded to reject.
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Ashtead Group 3Q Pretax Profit Rose as Revenue Beat Consensus; Raises FY 2023 Guidance
Ashtead Group PLC said Tuesday that pretax profit rose as revenue beat consensus for the third quarter of fiscal 2023, and that full-year results will be ahead of the board's expectations.
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Reach 2022 Pretax Profit Fell as Print Revenue, Advertising Decreased
Reach PLC said Tuesday that 2022 pretax profit fell as print revenue and advertising decreased.
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Greggs 2022 Pretax Profit, Sales Rose Amid Record Store Openings
Greggs PLC said Tuesday that pretax profit rose in 2022 on higher sales, as the company enjoyed record store openings in the period despite a tough macroeconomic backdrop.
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Purplebricks Major Shareholder Withdraws Board Member to Ensure Equality
Purplebricks Group PLC said Tuesday that Nonexecutive Director Ait Voncke, the board representative of major shareholder Axel Springer SE, has stepped down after considering shareholder equality expectations following the launch of a strategic review of the company.
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Foxtons 2022 Profit, Revenue Rose on Strong Lettings Performance
Foxtons Group PLC said Tuesday that its 2022 pretax profit significantly rose as revenue also increased, with growth across all businesses and particularly lettings, and that early 2023 performance met its views.
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STV Group 2022 Pretax Profit Rose Despite Advertising Fall
STV Group PLC said Tuesday that pretax profit rose in 2022 despite a slight fall in total advertising revenue.
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Elementis Pretax Loss Widened on $103 Mln Impairment Charge
Elementis PLC on Tuesday reported a widened pretax loss for 2022 after booking a large impairment charge in its accounts, and said that it is confident in meeting its medium-term operating margin target.
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IWG 2022 Pretax Loss Narrowed as Revenue Rose on Strong Demand; Optimistic for 2023
IWG PLC said Tuesday that its 2022 pretax loss narrowed and it delivered its highest ever revenue, as demand increases for flexible working spaces, and it was cautiously optimistic for 2023.
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Johnson Service 2022 Pretax Profit, Revenue Rose on Higher Hospitality Volumes
Johnson Service Group PLC said Tuesday that 2022 pretax profit rose as revenue increased on higher hospitality volumes and price increases, and that it expects 2023 to be in line with market expectations.
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Bank of Ireland Proposes EUR350M in Returns for 2022, Sees Higher Interest Income in 2023
Bank of Ireland Group PLC on Tuesday said it sees higher net interest income in 2023 reflecting business momentum and interest rate expectations as it posted 2022 results and proposed 350 million euros ($374 million) in dividends and buybacks.
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dotDigital 1H Profit Fell Amid Investment
dotDigital Group PLC said Tuesday that profit for the first half of fiscal 2023 fell as it invested in personnel and business infrastructure to support growth.
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Revolution Bars Swung to Pretax Loss in 1H Amid Cost-Of-Living Crisis
Revolution Bars Group PLC on Tuesday reported a swing to pretax loss for the first half of fiscal 2023 as the company faced continued external headwinds including strikes, cost inflation and the cost-of-living crisis.
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System1 Says Board-Change Proposals Aren't in Its Best Interest
System1 Group PLC said Tuesday that the board firmly believed that the changes outlined in a requisition notice request filed by two former executives weren't in the best interest of the company or its shareholders.
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Premier Foods Expects to Beat Management's FY 2023 Forecasts
Premier Foods PLC said Tuesday that earnings for fiscal 2023 are expected to beat management's expectations after a strong performance in recent weeks which has continued the momentum experienced in the third quarter.
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In The Style Shares Plummet on Plans to Sell Business and Delist
In The Style Group PLC shares plummeted Tuesday after the company said it plans to cancel its shares trading on London's alternative investment market and sell its operating business for 1.2 million pounds ($1.4 million), following a strategic review.
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H&T Group 2022 Pretax Profit Rose on Continued Pawnbroking Business Growth
H&T Group PLC said Tuesday that 2022 pretax profit rose as its pawnbroking business continued its sustained growth, and that it remained confident that the trading environment will be positive for its business.
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GreenX Metals Raises GBP3.9 Million via Share Placing
GreenX Metals Ltd. on Tuesday said it raised around 3.9 million pounds ($4.7 million) from European and Australian investors through share placement.
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Just Group 2022 Pretax Loss Widened, Backs Growth Target
Just Group PLC said Tuesday that pretax loss for 2022 widened, and declared a dividend in line with its policy as it reiterated its underlying operating profit growth target of 15% a year.
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Spirent Communications 2022 Profit, Revenue Rose on Demand, Product Launches
Spirent Communications PLC said Tuesday that pretax profit rose as revenue increased on renewed strength in high-speed ethernet from market demand and new product launches.
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Wincanton Shares Fall After UK Government Drops Contract; Sees FY 2024 Missing Views
Shares in Wincanton PLC plummeted Tuesday after the company said that the U.K. government has dropped a customs contract, and that it expects fiscal 2024 pretax profit to materially miss market views.
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Calnex Shares Fall on FY 2024 Financial Performance Warning
Shares in Calnex Solutions PLC fell after the company said that market-driven delays are likely to hurt its financial performance in fiscal 2024, with revenue more heavily weighed toward the second half, and that its financial performance will be below that achieved in the year ended March 31.
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Fadel Partners Plans London IPO
Fadel Partners, Inc. said Tuesday that it expects to float on London's alternative investment market in late March, under the ticket symbol "FADL".
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Keller 2022 Pretax Profit Falls on Effects of Covid-19 Pandemic, Ukraine War
Keller Group PLC said Tuesday that pretax profit fell in 2022 amid supply chain issues, inflationary pressure from the Covid-19 pandemic and the war in Ukraine, but it has started the new year with increased momentum and is well placed for major contract awards.
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Ariana Resources Will Increase Venus Minerals Shareholding After Loan Conversions
Ariana Resources PLC said Tuesday that it will increase its shareholding in Venus Minerals Ltd following two loan conversions as it advances its plan to list on the London Stock Exchange.
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Tremor International Shares Drop on Lower 2022 Profit, Revenue
Shares in Tremor International Ltd. fell 12% on Tuesday after the company said pretax profit and revenue for 2022 decreased as economic uncertainty hurt the advertising industry during the year.
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Saietta Group' Shares Dive on Lower FY 2023 Revenue Guidance
Shares of Saietta Group PLC fell as much as 22% on Tuesday after the company lowered its revenue guidance for fiscal 2023 amid changes to the financing of its joint venture in India.
Market Talk:
Elementis Should See Market React Well to FY 2023 Growth Expectation
0950 GMT - Elementis should see a positive market reaction to its expectation of further financial progress in fiscal 2023, Jefferies analysts write in a research note. "The forecast suggests that there should be low-single-digit upgrades to consensus's adjusted operating profit, though the scale of the upgrades is likely to be pared back by the skew of profits towards the second half-year," the analysts say. The offset was its talc business booking a loss for the year and a $103 million impairment due to demand weakness and high energy costs. The unit will be combined with coatings to create performance specialties, which is more about accelerating top-line growth than cost synergies, Jefferies says. (christian.moess@wsj.com)
Spirent Communications Under Pressure But Set for Recovery in 2H
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03-07-23 0523ET
