Strong February UK Retail Sales Mask Weak Outlook
24 März 2023 - 11:21AM
Dow Jones News
Strong UK Retail Sales Mask Weak Outlook as Financial Conditions
0929 GMT - Latest official data show U.K. retail sales
unexpectedly accelerated 1.2% in February from 0.9% in January
mainly driven by non-food and food sales. Nonetheless, the retail
sales outlook is weak as the effects of high interest rates are
expected to hurt sales, say UniCredit Research analysts in a note.
U.K. consumer confidence is at historically low levels, the
analysts say. "Consumer confidence, as measured by GfK, rose
slightly in March to -36 from -38 but remains historically weak,"
they say. (email@example.com)
Games Workshop Declares Dividend
Games Workshop Group PLC said Friday that it has declared a
dividend payout and that trading in the three months to the end of
February has been in line with expectations.
Smiths Group 1H Pretax Profit Rose as Revenue Beat Consensus,
Lifts Full-Year Guidance Again
Smiths Group PLC said Friday that first-half fiscal 2023 pretax
profit rose as revenue beat consensus, and again raised its
revenue-growth guidance for the year.
JD Wetherspoon Swung to 1H Pretax Profit as Sales Rose Above
J.D. Wetherspoon PLC reported on Friday a swing to pretax profit
for the first half of fiscal 2023 on the back of sales that were
ahead of prepandemic levels.
James Fisher & Sons to Report 2022 Revenue Rose, But Results
Delayed to April
James Fisher & Sons PLC said Friday that it expects to
report a rise in revenue for 2022, but that its results would be
delayed a month and published April 28 instead of March 28.
Tribal Group 2022 Pretax Profit Fell on Contract Delay; Cuts
Tribal Group PLC on Friday cut its final dividend on the back of
lower profits due mainly to the delays and subsequent cancellation
of its Nanyang Technological University contract in Singapore, and
despite higher revenue.
Quartix Technologies Starts 2023 in Line With Market Views
Quartix Technologies PLC said Friday that its performance in the
first two months of 2023 has been in line with market views for the
Warpaint Lifts Expectations After Strong 1Q Sales
Warpaint London PLC said Friday that it has lifted its
expectations for 2023 as sales increased in the first quarter of
Caledonia Mining to Raise Up to $13 Mln to Fund Projects;
Reports In-Line 2022 Earnings
Caledonia Mining Corp. said Friday that it plans to raise up to
$13 million via share placings and will use the money to provide
working capital to accelerate the planned work at three new gold
projects in Zimbabwe.
Ocean Wilsons 2022 Pretax Profit Fell on Decline in Value of
Ocean Wilsons Holdings Ltd. said Friday that 2022 pretax profit
fell due to a decline in the valuation of its investment portfolio,
and that in terms of uncertainty, the first quarter of 2023 was
reminiscent of the year-prior period.
San Leon Energy Expects to Complete Refinancing in Near Term
San Leon Energy PLC said Friday that it expects to complete its
refinancing in the near term although the process has taken more
Phoenix Copper Shares Fall as It Seeks to Issue
Copper-Price-Linked Bonds, Secures $2 Mln Facility
Phoenix Copper Ltd. shares fell on Friday after it said that it
is finalizing discussions regarding the placing of up to $80
million of corporate bonds linked to the copper price and that it
has secured dollar working capital through a credit facility.
J.D. Wetherspoon's Earnings Shows Continued UK Consumer
Resilience -- Market Talk
0943 GMT - J.D. Wetherspoon 1H results showed an improved
performance and further progress at the start of the second half,
demonstrating the continued resilience of the U.K. consumer
backdrop, Shore Capital analyst Greg Johnson says in a note. The
London-listed pub operator's total revenues rose by 14% to GBP916
million compared with the same period last year, reflecting
pandemic-related softer comparatives albeit total sales were only
3% ahead of 2019 levels, the analyst highlights. Current
performance is also broadly consistent with consensus estimates of
further profitability increase in 2H, he adds. "We see this as a
much-improved performance, although we remain cautious over the
customer base, pricing proposition and its metropolitan exposure,"
Johnson adds. (firstname.lastname@example.org)
J.D. Wetherspoon's Performance Boosts Investor Optimism
0919 GMT - J.D. Wetherspoon continues to clean up its balance
sheet as 1H results return to prepandemic levels, Interactive
Investor head of markets Richard Hunter says in a note. The pub
operator also kept capital investment with GBP48 million directed
at pubs, pub extensions and technology, he says. This continued
positive performance has brought investor optimism, leading to a
share price spike of 34% over the last three months, he says.
"Prospects for the group, like its margins, remain finely balanced,
with the market consensus of the shares as a hold suggesting that
investors will cautiously await more fruitful developments and
perhaps celebrate better results," he adds.
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(END) Dow Jones Newswires
March 24, 2023 06:06 ET (10:06 GMT)
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