Unilever Could Face Persistent Cost Inflation, Says Jefferies
Unilever Could Face Persistent Cost Inflation
0919 GMT - Unilever's margins are expected to improve in the
second quarter but are still seen remaining under pressure given
that inflation seems set to stay in 2023, analysts at Jefferies
say. However, they estimate that a volume/mix--the price effect
from the variation between price and number of units sold--margin
for the 2Q to be -1.4%, ahead of the market consensus of -2.0%,
driven by stronger pricing. The analysts also expect a volume
tailwind as the consumer-goods giant benefits from a normalized ice
cream season in Europe. Jefferies has a buy recommendation on the
stock and a price target of 4,130 pence.
Barclays to Buy Kensington Mortgage Co., Portfolio for Around
Barclays PLC said Friday that it has agreed to acquire
Kensington Mortgage Co. and a related portfolio of U.K. mortgages
for around 2.3 billion pounds ($2.82 billion).
Ferguson Launches GBP375 Mln Share Buyback
Ferguson PLC said Friday that it is starting a share buyback of
375 million pounds ($459.8 million) in continuation of its $2
billion repurchase program.
Lamprell Says Blofeld Takeover Offer Is at a Significant
Lamprell PLC said Friday that it considers the takeover cash
offer from Blofeld Investment Management to be at a significant
discount to the prevailing share price and so far no agreement has
RPS Group Says Five-Month Performance Was Better Than
RPS Group PLC said Friday that its performance in the first five
months of the year was better than expected.
Greencoat Renewables Agrees to Buy 134MW Swedish Wind Farm --
ACQUIRER: Greencoat Renewables PLC, a renewable-infrastructure
Trackwise Designs Sees 2022 Sales Below Market Views on Lower
Trackwise Designs PLC said Friday that sales for 2022 are
expected to be below market views due to reduced customer
Foresight Sustainable Forestry Raises GBP45 Mln Via Equity
Foresight Sustainable Forestry Co. said Friday that it has
raised 45 million pounds ($55.2 million) via share issue to acquire
Essentra to Sell Packaging Businesses for GBP312 Mln
Essentra PLC said Friday that it will sell its packaging
businesses ESNT Packaging & Securing Solutions Ltd. and
Essentra Packaging US Inc. for 312 million pounds ($382.5 million)
Southern Energy Completes Expanded Share Placing, Raises $31.0
Southern Energy Corp. said Friday that it has completed an
increased placing of shares in the U.K., bringing the size of its
total offering to $31.0 million from $30.0 million.
Ultra Electronics Takeover by Advent's Cobham Moves Closer to UK
Ultra Electronics Holdings PLC said Friday that it has noted the
U.K. government is minded to accept the undertakings proposed by
Advent International Corp.'s Cobham Group Holdings Ltd. to allow
its takeover of Ultra.
LSL Property Services to Extend Share Buyback for Three
LSL Property Services PLC said Friday that it will extend its 10
million pound ($12.3 million) share-buyback program for an
additional three months, from the end of June to the end of
Lamprell Shares Fall on Liquidity Constraints Warning
Shares in Lamprell PLC fell Friday after the company said that
it is looking for a solution to meet its immediate funding
obligations of $75 million in June and July as it continues to be
affected by low-margin projects and insufficient revenue
Gulf Keystone Petroleum Cuts Top End of Production Guidance
Gulf Keystone Petroleum Ltd. on Friday narrowed its 2022
production guidance toward the lower end of the range.
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(END) Dow Jones Newswires
June 24, 2022 05:43 ET (09:43 GMT)
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