FTSE 100 Flat as Traders Weigh Earnings
0856 GMT - The FTSE 100 trades flat as at 7486 points as
investors digest company earnings. Retail company Frasers Group
falls 3.5% as it maintained its profit forecast but warned of a
challenging macroeconomic environment and said the backdrop for the
coming year looks uncertain. British American Tobacco falls 2.2%
after the cigarette maker said U.S. industry volumes remain under
pressure due to economic factors and post-Covid normalisation of
consumption patterns while it expects finance costs to rise due to
higher interest rates and the dollar's strength. DS Smith gains
1.3% after the packaging group raised its interim dividend and said
it expects its full-year performance to be better than previously
British American Tobacco Backs 2022 Views Supported by New
British American Tobacco PLC backed its 2022 guidance on
Thursday after a robust performance from its vaping and oral
tobacco business, despite inflation hitting its supply chain.
DS Smith 1H Pretax Profit, Revenue Rose as Selling Prices
DS Smith PLC said Thursday that pretax profit jumped and revenue
rose for the first half of fiscal 2023, driven by higher average
selling prices reflecting a recovery of paper and other input
Frasers Group Backs FY 2023 Guidance After 1H Pretax Profit Rose
on Higher Sales
Frasers Group PLC on Thursday reported a rise in pretax profit
for the first half of fiscal 2023 as it benefited from higher sales
from its acquired brands, and backed its full-year guidance.
In The Style Group Hangs up 'For Sale' Sign; CEO to Step
In The Style Group PLC said Thursday that it has appointed
Lincoln International to help the board conduct a strategic review
of the business, which could lead to the sale of some or all of the
Numis FY 2022 Pretax Profit Fell on Deteriorating Market
Numis Corp. said Thursday that pretax profit for fiscal 2022
fell amid deteriorating market conditions, but added that its
merger and acquisitions business remains strong.
BATM Advanced Communications Says it Has Made Solid 2H
BATM Advanced Communications Ltd. said Thursday that it made
solid progress in the second half as business returned to normality
postpandemic despite supply-chain issues.
Hipgnosis Songs 1H Loss Narrows on Streaming Growth
Hipgnosis Songs Fund Ltd. said Thursday that its first-half loss
narrowed as revenue rose after strong growth from streaming.
S&U Sees FY 2023 Positive Performance Despite Challenging
S&U PLC said Thursday that is performing well despite the
macroeconomic uncertainty and it expects the current trend to
continue for the remainder of the fiscal year.
Purplebricks 1H Pretax Loss Widens; Sees Recovery Plan Bearing
Fruit in 2H
Purplebricks Group PLC said Thursday that its pretax loss for
the first half of fiscal 2023 widened on lower revenue and higher
operating costs, but backed its full-year guidance as it sees
financial benefits of its recovery plan in the second half.
Tullow Oil Appoints Richard Miller as Permanent Chief Financial
Tullow Oil PLC said Thursday that it has appointed Richard
Miller as chief financial officer from Jan. 1, having held the role
on an interim basis since April.
Balfour Beatty Sees Revenue Ahead on Year, Profit Ahead of
Balfour Beatty PLC said Thursday that full-year revenue is seen
ahead on year and profit is seen ahead of market expectations.
In The Style Swung to 1H Pretax Loss on Rising Costs, Lower
In The Style Group PLC on Thursday reported a swing to pretax
loss in the first half of fiscal 2023, driven by higher costs and
lower revenue, as consumer sentiment deteriorated amid the
uncertain macroeconomic outlook.
MyCelx Technologies Shares Jump as It Expects to Post in Line FY
Shares in MyCelx Technologies Corp. jumped 26% on Thursday after
the company said that it expects to end 2022 in line with market
Trakm8 Swung to 1H Pretax Loss on Lower Sales, Higher Costs
Trakm8 Holdings PLC on Thursday reported a swing to a half-year
pretax loss on the back of lower software sales and higher material
costs, but said it is confident of meeting market expectations.
BAT's Move Away From Traditional Tobacco is Encouraging
0854 GMT - British American Tobacco's update gives encouraging
signs as the group switches toward new category business, a
fast-growing area that includes vapor, oral and tobacco-heating
products, Interactive Investor's head of markets Richard Hunter
says in a note. The tobacco company, and the whole sector,
recognizes the longer-term need to lessen the reliance on
traditional tobacco, Hunter says. This reflects in the company's
3.2 million increase of new category consumers, which now stands at
a total of 21.5 million against a target of 50 million by 2030, he
says. "With increasingly established markets, [...] the group's
established scale and cash generation pulls the target closer,"
Hunter says. (firstname.lastname@example.org)
Frasers Group's 1H Profit Was Above Expectations Despite
0838 GMT - Frasers Group's first-half results showed a
better-than-expected pretax profit for the period despite sales
being around 4% below views, RBC Capital Markets analysts Richard
Chamberlain and Manjari Dhar say in a note. The U.K. sports-fashion
retailer's adjusted pretax profit of GBP267 million, compared with
RBC's expectations of GBP237 million, was supported by stronger
profit generation in the U.K. market, they say. The company's
premium lifestyle as well as wholesale and licensing businesses
more than offset a weaker performance in international retail, the
analysts say. RBC has a perform rating on the stock.
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
December 08, 2022 04:25 ET (09:25 GMT)
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