Tesco Results Contain Positives Despite Spending Squeeze
Tesco 1H Contains Positives Despite Spending Squeeze
0806 GMT - Tesco shares rise 0.2% after the U.K. grocer reported
lower first-half pretax profit, but maintained its full-year profit
guidance, albeit at the lower end of the forecast range. While
Tesco and others are starting to feel the effects of the
consumer-spending squeeze, the results contain positives and
markets have looked favorably on results in early trading,
Hargreaves Lansdown says. "Tesco continues to generate significant
free cash-flow, with full-year guidance getting a boost and
investors rewarded with an ongoing buyback scheme and increased
interim dividend," HL analyst Matt Britzman writes. "Raising prices
behind the wider market is helping to keep cash-conscious shoppers
coming back for more, albeit there are increasing signs shoppers
are trading down from branded to own-brand items."
Tesco 1H Pretax Profit Fell on Increased Costs; Backs FY 2023
Tesco PLC said Wednesday that its pretax profit fell in the
first half of fiscal 2023 on increased costs, and it backed its
guidance for the full year despite post-coronavirus market
normalization and customer cost-of-living increases.
Vertu Motors Launches GBP3 Mln Share Buyback
Vertu Motors PLC said Wednesday that it has agreed a further 3
million pounds ($3.4 million) share buyback.
Assura Portfolio Performed Well in 1H; Annualized Rent Rose
Assura PLC said Wednesday that it has performed well in
developing its portfolio in the first half of fiscal 2023, with its
annualized rent toll rising on year.
Hyve Group Says China Uncertainty to Continue; Expects Revenue
Rise for FY 2022
Hyve Group PLC said Wednesday that it expects the uncertainty
around running events in China to continue in fiscal 2023 due to
the Covid-19 pandemic, and that it expects to report a rise in
revenue for fiscal 2022.
PCF Group Suspends New Lending, Accelerates Business Review
PCF Group PLC said Wednesday that it will suspend any new PCF
Bank lending activities until further notice, effective
immediately, and accelerate a review process of its operational
LondonMetric Property Says 1H Occupancy Remained High
LondonMetric Property PLC said Wednesday that occupancy has
remained high in the first half of fiscal 2022 and it is operating
with a low earnings from operational activities cost ratio.
Vertu Motors 1H Pretax Profit Fell on Higher Costs; FY 2023
Profits Seen Ahead of Views
Vertu Motors PLC said Wednesday that pretax profit fell in the
first half of fiscal 2023 after booking higher costs, and that the
board anticipates full-year profits to be ahead of market
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(END) Dow Jones Newswires
October 05, 2022 04:27 ET (08:27 GMT)
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