UK Consumer Spending Looks Resilient Despite High Inflation
0820 GMT - U.K. consumer spending seems to be holding up despite
high inflation and low confidence, Pantheon Macroeconomics' chief
U.K. economist Samuel Tombs says in a note. Households could be
using savings or increasing borrowing to keep their consumption
levels, and worries over inflation could be partially offset by a
strong labor market, he says. People might expect to be worse off
due to increasing prices, but they are still more likely to
maintain their spending than if they were worried about losing
their job, Tombs says. Pantheon expects the U.K. economy to fall by
0.5% on quarter in 2Q, but to rise in both 3Q and 4Q, avoiding a
AstraZeneca's Covid-19 Vaccine Gets EU Approval for Third
AstraZeneca PLC said Monday that its Covid-19 vaccine has been
granted approval in the European Union as a third dose booster for
Ted Baker Selects Preferred Party for Sale; Sycamore Partners No
Ted Baker PLC said Monday that the board has selected an
undisclosed preferred counterparty and that Sycamore Partners
Management L.P. is no longer participating in the sale process.
M&C Saatchi Shareholder AdvancedAdvT Says Next Fifteen Offer
Is Too Low
AdvancedAdvT Ltd. said Monday that the 310.1 million pound
($387.4 million) offer from Next Fifteen Communications Group PLC
for communications group M&C Saatchi PLC doesn't reflect the
value of foregoing control and the significant synergies available
to the potential buyer.
Kingfisher Backs FY 2023 Profit View; To Buy Back Shares
Kingfisher PLC said Monday that sales fell in the first quarter
of fiscal 2023 due to strong comparatives the prior year but were
above prepandemic levels, and backed its full-year guidance and
outlined a share-buyback program.
EnQuest Says on Track to Meet 2022 Targets; Backs Guidance
EnQuest PLC said Monday that it is on track to meet its 2022
targets, and backed its guidance for the year.
Kainos Group FY 2022 Pretax Profit Fell, Reduces Dividend
Kainos Group PLC said Monday that pretax profit for fiscal 2022
fell on higher costs while revenue rose by one third driven by
strong demand across all its divisions, and declared a reduced
Empiric Student Property CFSO Lynne Fennah to Step Down in
Empiric Student Property PLC said Monday that Chief Financial
& Sustainability Officer Lynne Fennah plans to step down to
pursue other interests.
Empiric Student Property Says Occupancy Above Levels in Year
Empiric Student Property PLC on Monday reiterated guidance for
the 2022-2023 academic year, as occupancy levels to date are above
those in the last year before the pandemic.
LondonMetric Property Buys Two UK Retail Assets for GBP23.3
LondonMetric Property PLC said Monday that it has acquired two
retail assets in the U.K. for 23.3 million pounds ($29.1
Centralnic Swung to 1Q Pretax Profit as Revenue Rose;
Performance in Line With Views
CentralNic Group PLC said Monday that it swung to a pretax
profit for the first quarter of 2022 as revenue increased, and that
the board was confident the company is performing in line with
Creo Medical Group 2021 Pretax Loss Widened on Higher Costs
Creo Medical Group PLC said Monday that 2021 pretax loss widened
after booking higher costs, and that the progress it has made over
the last year underpins the board's confidence in the company's
opportunities in 2022.
Pelatro Says 2021 Loss Narrowed, 2022 Performance in Line
Pelatro PLC on Monday reported a narrowed loss for 2021 and said
that it continues to trade in line with expectations.
Deepmatter Appoints Alan Aubrey as Nonexecutive Chairman
Deepmatter Group PLC said Monday that it has appointed Alan
Aubrey as nonexecutive chairman, effective May 27.
Ince to Report Fall in FY 2022 Revenue, Pretax Profit Due to 4Q
Shares in Ince Group PLC fell in early trading Monday after the
company said that it will report a decline in revenue and pretax
profit for fiscal 2022 due to a challenging fourth quarter, and
that the final results for fiscal 2022 will be below
MTI Wireless Edge Ltd. 1Q Pretax Profit Rose on Higher
MTI Wireless Edge Ltd. said Monday that pretax profit rose in
the first quarter as revenue increased.
Moonpig Shares Rise After Proposal to Buy Smartbox Group for
GBP124 Mln; Raised Expectations
Shares in Moonpig Group PLC traded up 12% on Monday after it
said that it was proposing to buy Smartbox Group UK Ltd. for 124
million pounds ($154.9 million) as part of the acceleration of its
growth strategy, and that it has increased its fiscal 2023 revenue
Kingfisher's Long-Term Views Seen as Supportive
0835 GMT - Kingfisher improved its performance strategy through
boosting its digital offer, lowering inventory and cost control,
amid a positive long-term outlook, RBC Capital Markets analyst
Richard Chamberlain says in a note. The European home-improvement
retailer reported a resilient demand in 1Q with sales at GBP3.2
billion compared with a consensus of GBP3.1 billion. Kingfisher is
expected to benefit from customers spending more time at home,
engaging with do-it-yourself and energy-efficient housing, the
analyst says. RBC Capital Markets has an outperform rating on the
stock and a price target of 370,0 pence.
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(END) Dow Jones Newswires
May 23, 2022 04:55 ET (08:55 GMT)
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