Sterling Extends Losses After UK PMI Data

0858 GMT - Sterling extends its losses after May's U.K. manufacturing and services purchasing managers' index survey came in worse than expected. The S&P/CIPS manufacturing PMI dropped to 54.6 in May from 55.8 in April, compared to the 55.0 forecast by economists in a WSJ poll. The services PMI fell to 51.8 in May from 58.9 in April, versus an expected reading of 57.0. A level above 50 indicates expansion. The data "point to the economy almost grinding to a halt as inflationary pressure rises to unprecedented levels," S&P economist Chris Williamson says in the survey. GBP/USD falls to 1.2486 after the data from 1.2571 beforehand. EUR/GBP rises to a 12-day high of 0.8576 from 0.8521. (renae.dyer@wsj.com)

 
Companies News: 

Hikma Pharmaceuticals CEO Siggi Olafsson to Step Down

Hikma Pharmaceuticals PLC said Tuesday that Siggi Olafsson has resigned as Chief Executive Officer and will be temporally replaced by the executive chairman and former CEO Said Darwazah.

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RS Group FY 2022 Revenue, Pretax Profit Rose on Improved Performance Across Regions

RS Group PLC said Tuesday that fiscal 2022 pretax profit and revenue rose after experiencing improved performance in all three of the regions in which it operates.

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Shaftesbury Swings to 1H Profit, Doubles Dividend

Shaftesbury PLC said Tuesday that it swung to a profit in the first half of the fiscal year, mainly due to revaluation surpluses, and doubled its dividend.

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Cranswick FY 2022 Pretax Profit Rose; Current FY Performance in Line With Mgmt Views

Cranswick PLC on Tuesday reported a rise in pretax profit for fiscal 2022, and said performance for the current financial year has so far been in line with management expectations.

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Topps Tiles 1H Pretax Profit Rose; Says Sales Continue to Grow in 2H

Topps Tiles PLC on Tuesday reported a rise in pretax profit for the first half of fiscal 2022 and said that its performance remains strong, with like-for-like sales growing 5.7% in the first seven weeks of the second half.

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U.K. Regulator Clears National Express, Stagecoach Merger, But Deal Will Not Proceed

The U.K. Competition and Markets Authority said Tuesday that the merger between National Express Group PLC and Stagecoach Group PLC didn't qualify for investigation under the merger provisions of the Enterprise Act 2002.

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Hilton Food Says 2022 YTD Performance in Line With Internal Views

Hilton Food Group PLC said Tuesday that its performance in 2022 has been in line with internal expectations, with sales rising in the year to date.

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Homeserve FY 2022 Pretax Profit Rose on Strong Performance

Homeserve PLC said Tuesday that pretax profit for fiscal 2022 rose, driven by robust growth across all three divisions.

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Greencoat Renewables to Buy Axpo's Wind Farms in France

Greencoat Renewables PLC said Tuesday that it has signed a deal to buy a 65-megawatt portfolio of operating wind farms located in France from Axpo Holding AG, its second portfolio acquisition in the country.

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On the Beach 1H Pretax Loss Narrowed; Sees Profitability for 2H

On the Beach Group PLC on Tuesday reported a narrowed pretax loss for the first half of fiscal 2022, and said that it is confident about achieving profitability in the second half.

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Kier Performing in Line with Board's Views; Order Book Rose 6%

Kier Group PLC said on Tuesday that it has continued to perform in line with the board's expectations over the four months to the end of April, despite continued inflation pressures.

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Hyve Group Swung to 1H Pretax Loss After Russia Exit, Insurance Proceeds Decline

Hyve Group PLC said Tuesday that it swung to a pretax loss for the first half of fiscal 2022 after it exited Russia and its insurance proceeds relating to canceled events declined.

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Boohoo Group Reaches Final Settlement for California Claim

Boohoo Group PLC said Tuesday that it has reached a final settlement without admission of liability in relation to the Californian class action claim.

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Actual Experience 1H Loss Widened as Costs Rose, Sales Fell

Actual Experience PLC on Tuesday reported a widened loss for the first half of the fiscal year, as it raised investment in sales and marketing.

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SSP 1H Pretax Loss Narrowed as Pandemic Restrictions Eased

SSP Group PLC said Tuesday that its pretax loss narrowed for the first half of fiscal 2022 as revenue recovered due to the easing of pandemic restrictions, and that it is well-positioned for a strong summer in its key markets, notwithstanding supply-chain issues in the travel industry.

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Trinity Exploration Profits Rose in 2021, to Restart Drilling in 2H -- Energy Comment

Trinity Exploration & Production PLC on Tuesday reported improved profits for 2021, reflecting higher oil prices, and confirmed that it will resume drilling exploration in the second half of this year. Here's what the Trinidad & Tobago-focused oil company had to say:

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BrandShield Systems Raises GBP1 Mln to Fund Growth

BrandShield Systems PLC said Tuesday that it has raised 1 million pounds ($1.3 million) via a share subscription and will use the money toward key growth initiatives.

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Lords Group 2021 Pretax Profit Doubled, Is Confident on Medium-Term Targets

Lords Group Trading PLC reported on Tuesday a more-than-doubled pretax profit for 2021 and said that it is confident about meeting its medium-term targets.

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Avon Protection Swung to 1H Pretax Loss; CEO to Step Down

Avon Protection PLC said Tuesday that it swung to a first-half pretax loss as the extended delay in the sign-off of the U.S. federal budget affected customers.

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Restaurant Group Says 2022 Expectations Unchanged Despite Inflation Hit

Restaurant Group PLC said Tuesday that its expectations for 2022 remain unchanged despite increased food and drink inflation.

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Helical FY 2022 Pretax Profit Rose, Increases Dividend

Helical PLC said Tuesday that pretax profit for fiscal 2022 rose and that it increased its dividend payout.

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Greencore Group Swung to 1H Pretax Profit; Recovery Trends Continue

Greencore Group PLC reported on Tuesday a swing to a pretax profit for the first half of fiscal 2022, and said that its current second half performance is positive.

 

Contact: London NewsPlus; paul.larkins@wsj.com

(END) Dow Jones Newswires

May 24, 2022 05:34 ET (09:34 GMT)

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