The FTSE 100 closed up 0.7% on Tuesday, with Imperial Brands
leading the risers after the tobacco group--which houses Davidoff,
Gauloises and JPS among its brands--published numbers for the first
half. "Pretax profits fell to GBP1.2 billion [$1.48 billion],
largely due to the costs of leaving Russia, which resulted in a
charge of GBP201 million, while a better-than-expected performance
in its Next Generation Products revenue has also helped," says
Michael Hewson, chief market analyst at CMC Markets U.K. Vodafone
posted fiscal 2022 results and guidance that were both uninspiring,
Hewson says, adding that focus has been on CEO Nick Read's strategy
for the business going forward.
Companies News:
Vodafone Group FY 2022 Adjusted Earnings Rose on Revenue Growth,
Cost Control
Vodafone Group PLC said Tuesday that fiscal 2022 adjusted Ebitda
rose on revenue growth and strong cost control.
---
U.K. Watchdog Refers LSEG's GBP274M Deal for Quantile to
In-Depth Investigation
The U.K. Competition and Markets Authority said Tuesday that it
is referring the acquisition of Quantile Group Ltd. by London Stock
Exchange Group PLC to an in-depth investigation.
---
Imperial Brands 1H Profit Fell on Charges Related to Leaving
Russian Market
Imperial Brands PLC on Tuesday reported a fall in pretax profit
for the first half due to charges related to its exit from Russia,
and raised its dividend payout.
---
Engie Upgrades 2022 Guidance on Strong 1Q
Engie SA on Tuesday said that it has upgraded its full-year
guidance following a strong performance in the first quarter.
---
S4 Capital Agrees on Media.Monks-TheoremOne Combination to
Expand Presence in the US
S4 Capital PLC said Tuesday that it has agreed to a combination
between Media.Monks and TheoremOne to expand its presence in the
U.S. market.
---
KKR Agrees to Acquire ContourGlobal for $2.1 Bln
U.S. private equity firm KKR & Co. said Tuesday that it has
agreed to acquire FTSE 250 power generation group ContourGlobal PLC
for $2.14 billion.
---
Victorian Plumbing 1H 2022 Pretax Profit, Revenue Fall; Backs
Guidance
Victorian Plumbing Group PLC said Tuesday that pretax profit
fell for the first half of fiscal 2022 after booking higher costs
and a fall in revenue, and backed its guidance for the year.
---
Britvic Says 1H Pretax Profit Rose on Higher Consumption; to Buy
Back Shares
Britvic PLC said Tuesday that its pretax profit for the first
half of its fiscal 2022, driven by increased consumption volumes,
and that it is planning a share buyback program.
---
Shoe Zone Swung to 1H Pretax Profit as Revenue Rose; Reinstates
Dividends
Shoe Zone PLC said Tuesday that it swung to a pretax profit for
the first half of fiscal 2022 on increased revenue, and reinstated
interim dividends, as it continued to recover from the
pandemic.
---
Angling Direct FY 2022 Pretax Profit, Revenue Rose on Improved
Pricing, Buying
Angling Direct PLC said Tuesday that pretax profit and revenue
rose for fiscal 2022 after improved buying and pricing due to
category management.
---
Mears Group CEO to Retire; Results for First Four Months of 2022
Ahead of Views
Mears Group PLC said Tuesday that Chief Executive Officer David
Miles will retire and that its current Chief Operating Officer
Lucas Critchley will assume the role at a future date.
---
Land Securities Swung to FY 2022 Pretax Profit Amid Pandemic
Recovery
Land Securities Group PLC said Tuesday that it swung to a pretax
profit in fiscal 2022 as it recovered from the hit from the
coronavirus pandemic.
---
C&C Group Swung to FY 2022 Profit on Strong Revenue as
Restrictions Eased
C&C Group PLC on Tuesday reported a swing to pretax profit
in fiscal 2022 as performance was boosted by fewer restrictions and
cost managing, and said that the new fiscal year has started
strongly.
---
Fintel Says Year-To-Date Performance Has Been Strong, in Line
With Views
Fintel PLC said Tuesday that its performance in the year to date
has been strong and in line with expectations.
---
AdvancedAdvT Launches GBP253.6 Mln Offer for M&C Saatchi --
Update
AdvancedAdvT Ltd. on Tuesday launched a 253.6 million pound
($312.5 million) takeover for advertising company M&C Saatchi
PLC.
---
Eckoh Sees FY 2022 Revenue in Line, Profit Ahead After Growth in
US Secure Payments
Eckoh PLC said Tuesday that revenue for fiscal 2022 was in line
with market expectations and that profit was ahead after strong
annualized recurring revenue growth in U.S. Secure Payments and a
resilient performance in the U.K.
---
Smartspace Software FY 2022 Loss Widened; Expects Strong Growth
in FY 2023
Smartspace Software PLC on Tuesday reported a widened loss for
the year ended Jan. 31, and said it expects strong growth in fiscal
2023.
---
Tritax EuroBox 1H Pretax Profit Rose on Property Gains
Tritax EuroBox PLC said Tuesday that pretax profit for the first
half of its fiscal 2022 significantly rose as revenue grew on the
back of property value gains.
---
Sureserve Group 1H 2022 Pretax Profit Up; Might Be Hurt by Cost
Increases
Sureserve Group PLC said Tuesday that pretax profit rose in the
first half of fiscal 2022 as revenue increased, and that its
business might be hit by general economic headwinds in terms of
cost increases.
---
Watkin Jones Swung to 1H Pretax Loss After Exceptional
Charge
Watkin Jones PLC said Tuesday that it swung to a pretax loss for
the first half of fiscal 2022 after it booked an exceptional charge
relating to the new Building Safety Act.
---
Accrol Says FY 2022 Revenue, Adj Ebitda in Line With Views;
Shares Rise
Shares in Accrol Group Holdings PLC rose Tuesday after the
company said that revenue, adjusted Ebitda and adjusted pretax
profit for fiscal 2022 were in line with market expectations, and
that the board has increased confidence in its outlook for fiscal
2023.
Market Talk:
DCC Looks Well-Placed to Continue Growth, Development
0855 GMT - DCC's results were in line with views as rising
pretax profit and Ebitda prompted a FY 2023 estimates upgrade,
Christopher Bamberry, an analyst at Peel Hunt, says in a research
note. The sales, marketing and support-services company's divisions
delivered growth despite global volatility around commodity
pricing, supply chains and inflation, and analysts raise their
pretax profit estimates to GBP596.8 million from GBP592.8 million,
Bamberry notes. "DCC has a strong and liquid balance sheet which
leaves the group very well-placed to continue its growth and
development in the coming years," Bamberry says. Peel Hunt rates
the stock buy with a 7,285-pence target price. Shares are up 3.3%
at 6,476 pence. (anthony.orunagoriainoff@dowjones.com)
Land Securities' Office and Retail Prospects Are Bright
0851 GMT - Reports of office working's demise may have been
premature as Land Securities returned to profit in fiscal 2022, and
astonishingly the company is seeing record leasing in central
London, AJ Bell says. The commercial-property developer and
investment company's attractive locations are proving a must for
employers that want to retain staff in the office at least some of
the time, AJ Bell investment director Russ Mould says in a research
note. LandSec's retail locations are recovering too as restrictions
ease, with the landlord putting effort in making these attractive
destinations for shoppers, the brokerage says. "Occupancy rates are
also up, though this recovery could be cut short as households cut
back on spending amid cost-of-living pressures," Mould says. Shares
are up 0.6% at 746.2 pence. (joseph.hoppe@wsj.com)
UK Labor Market Should Ease Somewhat Next Year
0850 GMT - The U.K.'s labor market showed signs of further
tightening in March and April, but it should slacken gradually over
the next 12 months and alleviate the pressure on wages, Pantheon
Macroeconomics' chief U.K. economist Samuel Tombs says in a note.
The participation rate is likely to increase, with new graduates
and immigrants entering the jobs market, while labor demand is set
to level off as the economy slows, the economic-research firm says.
This should keep a lid on wage growth, and a firm grip on
public-sector pay increases should also help to anchor improved
earnings in the private sector, Tombs says. "The [Bank of
England's] Monetary Policy Committee will not need to hike [the]
bank rate this year to the 2%-plus level currently envisaged by
markets," he says. (xavier.fontdegloria@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones
Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
May 17, 2022 12:55 ET (16:55 GMT)
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