BP Investors' Upbeat Reaction to Results Is No Surprise
1030 GMT - BP shares top the FTSE 100 risers, up 3% after the
oil major reported record annual profit and raised its dividend.
While BP and rivals have benefited from higher gas prices due to
factors such as the Ukraine war, market forecasts suggest BP's
income will trail away in the next few years as extraordinary
market conditions fade, Hargreaves Lansdown says. However, BP said
that by the end of the decade, it could be earning earnings before
interest, taxes, depreciation and amortization of $51 billion-$56
billion and achieving a return on average capital employed of more
than 18%, HL says. "If BP's right, this is a pretty unprecedented
period of sustained high financial returns," HL fund manager Steve
Clayton writes. "No surprise, then, to see the market welcome the
React FY 2022 Earnings Rose Amid Organic Revenue Growth,
React Group PLC said Tuesday that fiscal 2022 earnings rose as
revenue benefited from organic growth and the acquisition of
LaddersFree in May.
BP Adds $28 Billion to Record Full-Year Profits of Oil
LONDON--BP PLC became the latest oil giant to post record annual
profit last year, joining peers on both sides of the Atlantic in
capitalizing on soaring energy prices.
Morgan Advanced Materials Sees 2022 Beating Market Views,
Expects 2023 Profit Hit
Morgan Advanced Materials PLC said Tuesday that it expects its
2022 performance to slightly exceed market expectations, though it
expects production inefficiencies to hit 2023 adjusted operating
Mattioli Woods 1H Pretax Profit Rose
Mattioli Woods PLC on Tuesday posted a rise in half-year pretax
profit and said that outlook for fiscal 2023 remains in line with
Ferrexpo Gets Ukrainian Court Order Freezing Subsidiary's Bank
Ferrexpo PLC said Tuesday that it has received a court order
issued at the request of a prosecutor in Ukraine, to freeze the
bank accounts of one of its subsidiaries based in the country,
Ferrexpo Poltava Mining.
Zinc Media Sees 2022 Revenue, Adjusted Earnings Ahead of Views
After Strong 4Q Performance
Zinc Media Group PLC said Tuesday that revenue and adjusted
earnings before interest, taxes, depreciation and amortization for
2022 are expected to be ahead of current market expectations after
it booked a strong fourth-quarter performance boosted by its The
Edge film content business.
Numis Flags Continuation of Difficult Market Conditions
Numis Corp. said on Tuesday that its revenue for the first four
months of fiscal 2023 was similar to the second-half run-rate of
fiscal 2022 as it experienced a continuation of difficult market
conditions but said it is well-placed to deliver when volumes
Ormonde Mining Shares Suspended After Peak Nickel Stake Buy,
Ormonde Mining PLC shares were suspended Tuesday after it said
it has acquired a 20% stake in Peak Nickel Ltd. for 450,000 pounds
($540,810), with options to include further acquisitions, including
a full takeover.
Sanderson Design Sees FY 2023 Revenue Broadly Flat
Sanderson Design Group PLC said Tuesday that revenue for fiscal
2023 is expected to be broadly flat on year after strong
performances from the Morris & Co. brand, licensing and North
America, but a hit from the withdrawal from the Russian market.
Frenkel Topping Sees 2022 Revenue in Line With Views
Frenkel Topping Group PLC said Tuesday that it expects to report
higher 2022 revenue in line with expectations and is keeping its
2023 outlook unchanged after a strong start to the year.
Victorian Plumbing Names Dan Barton as New CFO as Paul Meehan
Victorian Plumbing Group PLC on Tuesday that Daniel Barton has
been chosen as its new chief financial officer, replacing Paul
Meehan who will be stepping down from the role on March 31 to
pursue other opportunities.
Smartspace Software Shares Rise on FY 2023 Revenue Increase
Smartspace Software PLC shares rose Tuesday after it said it
expects fiscal 2023 revenue to rise and losses to beat market
Ebiquity Sees 2022 Revenue 20% Higher on Year
Ebiquity PLC said Tuesday that performance for 2022 was in line
with market expectations, with revenue set to be 20% higher on
Water Intelligence 2022 Pretax Profit Slipped, Buys Back
Water Intelligence PLC on Tuesday said its 2022 pretax profit
fell slightly due to non-cash expenses as it posted a 31% rise in
revenue and said it has reacquired its Nashville franchise.
Ixico Sees Double-Digit Revenue Growth in Fiscal 2024
Ixico PLC said Tuesday that it continues to see fiscal 2023
revenue of 7 million pounds ($8.4 million) and that it now expects
double-digit revenue growth for fiscal 2024.
Brooks Macdonald Names Richard Price as Acting Chairman as Alan
Brooks Macdonald Group PLC on Tuesday said Chairman Alan
Carruthers has resigned from the board with immediate effect due to
Deepverge Appoints Andrew Waters as Chief Financial Officer
Deepverge PLC said Tuesday that it has appointed Andrew Waters
as chief financial officer with immediate effect.
East Imperial Sees 2022 Revenue Jump on Broad Sales Growth
East Imperial PLC said Tuesday that 2022 revenue increased 16%
on year to around 3.2 million pounds ($3.8 million), driven by
increased sales across all markets.
Serica Energy Says Portfolio Production Was Strong in
Serica Energy PLC said Tuesday that production performance of
both the Serica and Tailwind portfolios has remained strong despite
challenging weather in January.
UK January House Prices Flat But Hope Ahead for Builders
1128 GMT - U.K. house prices were flat in January and on-year
growth slowed, according to new data from Halifax, as demand was
burdened by the Bank of England's consecutive rate rises,
Interactive Investor says. However, looking ahead, the central bank
could pause or even cut rates later this year, which is good for
the housing market, particularly if the economic downturn is less
devastating than feared, Interactive head of investment Victoria
Scholar says in a market comment. "The U.K. housebuilders suffered
painful stock market losses last year but shares in Taylor Wimpey
and Persimmon are both up by around 15% so far in 2023, reflecting
the prospect we could be approaching the peak for U.K. interest
rates," Scholar says. Barratt Developments is down 0.9%, Taylor
Wimpey is up 0.1% and Persimmon is up 0.7%.
Playtech Court Action Implies Upside to Caliplay Stake
1046 GMT - Playtech's legal dispute with its Mexican partner
Caliplay, which is seeking to buy out part of Playtech's interest,
demostrates the value of the stake, Peel Hunt analysts say in a
research note. If a sale of the stake takes place, it would once
again show that the gambling-software-development company's
structured agreements create value, and could also lead to a
material return of capital to shareholders, they add. Peel Hunt has
a buy rating on the stock with an 800 pence target price.
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(END) Dow Jones Newswires
February 07, 2023 07:29 ET (12:29 GMT)
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