The FTSE 100 closed Wednesday down 0.46%, having fluctuated
between positive and negative territory. The worst performers could
be found in commercial real estate, while Ocado traded sharply
lower on reports that AQR Capital Management was the latest to take
out a short position against the business, CMC Markets UK chief
market analyst Michael Hewson said in a research note. "As we come
to the end of the week, the month and the quarter there remains a
great deal of uncertainty as to what sort of economy we will see in
the fourth quarter, and whether the determination of central banks
to keep rates high will change if we see further deterioration in
the economic outlook over the next few months," Hewson says.
Vanquis Banking Names Dave Watts as CFO
Vanquis Banking Group said it has appointed Dave Watts as chief
financial officer, who will join the board and start the role in
Pendragon Pretax Profit Rises on Robust Performance
Pendragon said pretax profit for the first half rose on the back
of a robust performance despite a challenging backdrop.
XP Factory Pretax Loss Narrows as Comparative Sales Rise
XP Factory said its first-half pretax loss narrowed as revenue
rose on like-for-like sales growth on both its brands, and that
results for the year will be in line with market views.
Saga Sees FY 2024 Results Beating Views After 1H Pretax Loss
Narrowed; Names New CFO
Saga said it expects to beat market estimates for fiscal 2024
after posting a narrower pretax loss for the first half of the
year, and that it is appointing Mike Hazell as chief financial
officer to replace James Quin.
W.H. Ireland Swings to Pretax Loss Amid Challenging Backdrop
W.H. Ireland Group swung to pretax loss for fiscal 2023 after
revenue fell amid a challenging market backdrop, but said it
expects to return to a break-even position in fiscal 2024.
NCC Group Swung to Pretax Loss as Deteriorating Market
NCC Group said it swung to a pretax loss in fiscal 2023 due to a
deterioration of the macroeconomic and market environment on its
Safestyle UK Says It Won't Pay Dividend on Widened 1H Loss
Safestyle UK has reported a widened pretax loss for the first
half of 2023 due to higher costs and lower sales volume and said it
isn't paying a dividend given the losses.
Rainbow Rare Earths Will Raise GBP4.5 Mln in Share Placing
Rainbow Rare Earths said it will raise 4.5 million pounds ($5.5
million) in a discount share placing after acquiring an increased
stake in the Phalaborwa rare earths project in South Africa.
Zinc Media Pretax Loss Narrows as Organic Revenue Rose; 2023
Revenue Seen Above 2022
Zinc Media Group said Wednesday that first-half pretax loss
narrowed as organic revenue rose 12%, and that revenue for the year
is expected to surpass 2022 as it expects further revenue to be won
and recognized in 2023.
Amigo Holdings Shares Fall After Warning on Insolvency,
Delisting Without Assets Sale
Amigo Holdings shares fell after the company said it expects to
become insolvent in the next few months, with its London listing
automatically cancelled, if it can't sell its assets shortly.
Tasty Shares Fall After Warning of Inflation Hit to Profit,
Widened 1H Loss
Tasty shares fell after the group reported a widened pretax loss
for the first half of fiscal 2023 and warned that profitability
will continue to be hit by inflationary pressures in the second
Everyman Media Pretax Loss Widened on Higher Costs; Backs 2023
Everyman Media Group has a reported a widened pretax loss for
the first half of 2023 due to higher administrative and finance
expenses despite gross-profit margin growth, and said it expects to
meet full-year market expectations.
LSL Property Services Pretax Profit Falls on Lower Mortgage
LSL Property Services reported fall in first-half pretax profit
on the back of challenging market conditions as high inflation and
interest-rate increases dented demand for mortgage products.
Graft Polymer Shares Fall After Going Concern Warning
Graft Polymer (UK) shares slumped on Wednesday after the company
said there is material uncertainty regarding its ability to
continue as a going concern after it posted a fall in revenue and
wider pretax loss for the first half of 2023.
Coral Products Says Year Has Started Well, but Some Softening
Seen in 2Q
Coral Products said the new fiscal year has started well and in
line with market expectations, although it has experienced some
softening in the second quarter.
PPHE Hotel Group Lifts Interim Dividend After Strong
PPHE Hotel Group raised its interim dividend for the first half
of the year to 16 pence (19 cents) from 3 pence a year earlier
after a strong performance in the period.
First Property's Funds Under Management Fall on Divestment,
Lower Property Values
First Property Group said third-party funds under management
fell from March due to the sale of one property, a reduction in
property values and a weakening of the euro, the currency in which
its Romanian and Polish properties are valued.
TI Fluid Systems on Track to Return to Double-Digit Adjusted
TI Fluid Systems said it was on track to return to double-digit
adjusted earnings before interest and taxes margin, and backed its
outlook for the year.
Surface Transforms 1H Loss Widened on Higher Costs, Despite
Surface Transforms reported a widened pretax loss for the first
half of the year due to higher administrative expenses and despite
revenue and gross profit growth.
System1 Group Expects to Beat Full-Year Market Revenue, Profit
System1 Group said it expects to top market views for full-year
revenue and pretax profit after revenue increased in the first half
of fiscal 2024.
Byotrol CEO Vivan Pinto Steps Down; Former Chief Executive
Appointed Interim Replacement
Byotrol said Chief Executive Officer Vivan Pinto has stepped
down to pursue other opportunities, and that former CEO David
Traynor has been appointed as interim replacement until a
replacement is found.
Stelrad Group Names Annette Boren As Finance Chief
Stelrad Group named Annette Boren as its new chief financial
officer to succeed George Letham.
Arix Bioscience CEO Steps Down
Arix Bioscience said Chief Executive Officer Robert Lyne will
step down from the company by the end of 2023 to pursue a new
Panthera Resources Shares Fall On Indian Court's Petition
Shares in Panthera Resources fell 24% after the company said the
high court of Rajasthan, India, has rejected a writ petition from
Metal Mining India, a subsidiary of Panthera-owned Australian
company, Indo Gold.
Plant Health Care Pretax Loss Narrows on Revenue Growth, Lower
Plant Health Care has reported a narrowed pretax loss for the
first half as operation costs fell and revenue rose, and said it
expects a strong second half driven by further revenue growth.
Camellia Sees Widened 2023 Pretax Loss, Lower Revenue on Weaker
Production and Prices
Camellia said it expects lower revenue and a widened pretax loss
in 2023 due to lower production and prices in certain markets.
UK Property Firms Look Set to Face Office Rent Pressure
0946 GMT - U.K.-listed property developers drop after Jefferies
downgraded several sector players, citing potential pressure on
office rents. Jefferies cuts British Land and Land Securities to
under-perform from hold and reduces Great Portland Estates and
Derwent London to hold from buy. Vacancies in the London office
market are at a 30-year high and above the tipping point at which
rents fall, the brokerage says. "Retail was technology's first
casualty and we think offices are next," Jefferies analysts say in
a note. "Utilization has shrunk and landlords are losing pricing
power as tenants offload surplus space." British Land and Land
Securities fall more than 1%, GPE is down 3% and Derwent London
drops nearly 2%, with other developers also losing ground.
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones
(END) Dow Jones Newswires
September 27, 2023 11:59 ET (15:59 GMT)
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