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. (firstname.lastname@example.org)
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
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
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
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
TClarke Sees 2022 Revenue Below Expectations Despite Strong 2H
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
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
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
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
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
Ince Group Raises GBP4.7 Mln via Placing, Retail Offer; More
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
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
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
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
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@example.com)
Kingfisher's Resilient Performance Shows Strategy
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. (firstname.lastname@example.org)
Contact: London NewsPlus; email@example.com
(END) Dow Jones Newswires
November 24, 2022 03:50 ET (08:50 GMT)
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