Bank of England Seen in Need to Act Sooner, Simplify
0831 GMT - The Bank of England can't be blamed for not
anticipating the supply shocks from the Ukraine war or China
lockdowns, but it can be blamed for allowing inflation expectations
to surge during 2021, Berenberg's senior economist Kallum Pickering
says in a note. By not reacting sooner to rising inflation, the
bank is trying to catch up at a time when its credibility is
damaged, inflation expectations are high and the economy faces
recession risks, he says. "Badly designed communications now
amplify the previous policy error of not tightening sooner,"
Pickering says. "Unless the BoE opts for a leaner and more pointed
communication strategy, financial and economic actors will continue
to struggle to understand the BoE's reaction function or predict
what the bank may do next," he says.
FirstGroup Receives Approaches From I Squared Capital Advisors
FirstGroup PLC said Thursday that it has received a number of
unsolicited and conditional takeover proposals from private equity
company I Squared Capital Advisors (UK) LLP, the latest of which it
HSBC Mulls Listing of Indonesia Business, Bloomberg Reports
HSBC Holdings PLC is looking to list its Indonesian business in
Jakarta via an initial public offering and plans for the share sale
are at an advanced stage, Bloomberg reported, citing unnamed
Intermediate Capital FY 2022 Pretax Profit Rose Above Views,
Intermediate Capital Group PLC said Thursday that pretax profit
and revenue for fiscal 2022 rose above market expectations, and
increased its dividend payout.
Auto Trader FY 2022 Pretax Profit, Revenue Rose on Strong
Customer Numbers, Consumer Engagement
Auto Trader Group PLC said Thursday that fiscal 2022 pretax
profit and revenue rose as customer numbers, consumer engagement
and product uptake were at record levels.
Johnson Matthey Sells Battery Materials Business for GBP50
Johnson Matthey PLC said Thursday that it has sold its battery
materials business for 50 million pounds ($62.9 million) to the
battery chemicals and technology business EV Metals Group.
United Utilities FY 2022 Profit Falls as Inflation Pushes Up
United Utilities Group PLC on Thursday reported a lower pretax
profit for the year ended March 31, reflecting higher finance
Petrofac Forecasts Small Engineering & Construction EBIT
Loss in 2022
Petrofac Ltd. said Thursday that its core Engineering &
Construction arm will book a small loss before interest and taxes
Belvoir Group Says Year-To-Date Performance Is In Line
Belvoir Group PLC said Thursday that business for the four
months to April 30 was in line with management's expectations, with
revenue up 14%.
Henry Boot Sees 2022 Performance In Line With Views
Henry Boot PLC said Thursday that it continues to perform in
line with market expectations of a 47.8 million pound ($60.1
million) pretax profit for 2022.
Serco Group Upgrades 2022 Profit, Revenue Guidance on Strong
Serco Group PLC said Thursday that it is upgrading its guidance
for 2022 as it had a stronger-than-expected performance for the
first four months of the year, and noted that its full-year results
will now approach levels achieved in 2021.
Johnson Matthey Sees FY 2023 At Lower Half of Range; FY 2022
Hurt by Impairments, Charges
Johnson Matthey PLC on Thursday said it expects fiscal 2023
underlying operating performance to be at the lower half of the
market consensus range as it reported a 13% fall in fiscal 2022
pretax profit due to a large impairment and restructuring
Yu Group Sees 2022 Performance in Line With Market
Yu Group PLC said Thursday that it expects 2022 performance to
be in line with market expectations.
Staffline Says 2021 Exceeded Expectations; Current Performance
Is In Line With Expectations
Staffline Group PLC said Thursday that it exceeded expectations
in 2021 and that current performance is in line with expectations,
despite labor shortages and macroeconomic headwinds.
Curtis Banks's Chairman Retires; David Barral Named
Curtis Banks Group PLC said Thursday that Chairman Chris
Macdonald is retiring from the board after seven years in the
DP Eurasia Four-Month Sales Grew 57%
DP Eurasia NV said Thursday that its sales increased 57% in the
first four months of 2022, reflecting strong demand in Turkey.
AJ Bell 1H Pretax Profit Fell; Expects FY 2022 Profit in Line
AJ Bell PLC said Thursday that despite a robust performance its
pretax profit fell in fiscal 2022's first half due to strong
comparatives the prior year, and that it raised its dividend
Zinc Media Gets GBP4 Mln in New Business; Confident of On-Year
Zinc Media Group PLC said Thursday that it is confident of
on-year revenue growth after winning 4 million pounds ($5 million)
of new business in the last four weeks.
Wickes Group Backs Full-Year Guidance as Performance to Date in
Wickes Group PLC said Thursday that it is backing its full-year
guidance as year-to-date trading has been in line with
Hostmore Sees 2022 Margin Falling Below Medium-Term Target
Hostmore PLC warned Thursday that its Ebitda margin for 2022
will be in the low double digits as a result of cost increases and
S&U Says Profitability Since February Has Exceeded
S&U PLC said Thursday that it expects to achieve full-year
growth targets despite market uncertainties, as the company's
performance since February has been robust.
Robinson Sales, Profit Rose in First 4 Months of 2022 Vs. Year
Robinson PLC said Thursday that sales and profit in the first
four months of 2022 rose on year, as it increases prices amid an
inflation-led business environment.
Ricardo Aims to More Than Double Adjusted Operating Profit by FY
Ricardo PLC said Thursday that its performance remains in line
with the board's expectations for fiscal 2022 and that it is
expects adjusted operating profit to more than double over five
PayPoint FY 2022 Pretax Profit Jumps on Romania Exit
PayPoint PLC said Thursday that pretax profit for fiscal 2022
jumped after an exceptional gain from the disposal of its Romania
JD Sports Fashion's Shake-Up 'Has Created Concern'
0906 GMT - The departure of JD Sports Fashion's executive
chairman has unsettled investors despite plans by the U.K. retailer
to overhaul its corporate governance structure, AJ Bell says. JD
said late Wednesday that Peter Cowgill will step down immediately
as it decided to accelerate the separation of the roles of chairman
and chief executive, sparking a sharp drop in its shares. On
Thursday, they trade 0.5% lower at 111p. "Despite the shares not
extending yesterday's fall too much, it's clear the announcement
has created significant concern," AJ Bell investment director Russ
Mould says, adding that JD had done well under Cowgill's
leadership. "Investors must decide whether the apparent governance
improvements were worth losing such a successful leader of the
Contact: London NewsPlus; email@example.com
(END) Dow Jones Newswires
May 26, 2022 05:28 ET (09:28 GMT)
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