Sterling Rises Further After BOE Lifts Rates
1218 GMT - Sterling extends its gains after the Bank of England
raised its key interest rate 25 basis points to 4.25%, as widely
expected. The BOE voted 7-2 for the move with two preferring
unchanged rates. It said inflation increased unexpectedly in the
latest data but is likely to fall sharply over the rest of the
year. The central bank reiterated that further rate rises would be
needed on any evidence of persistent price pressures. The BOE also
acknowledged recent global banking turmoil but stressed that its
remit is controlling inflation and that the U.K. banking system has
robust capital and strong liquidity positions. GBP/USD rises to
1.2315 after the decision from 1.2304 beforehand and EUR/GBP falls
to 0.8834 from 0.8841.(renae.dyer@wsj.com)
Companies News:
FinnCap, Cenkos to Merge in All-Share Deal
London-listed investment banks finnCap Group PLC and Cenkos
Securities PLC said Thursday that they have agreed to an all-share
merger under which finnCap will buy Cenkos for 21.1 million pounds
($25.9 million).
---
Safestyle UK Sees 2023 Revenue Below Views Amid Challenging
Consumer Backdrop
Safestyle UK PLC said Thursday that 2023 revenue is anticipated
to come in below current expectations amid a tough consumer
backdrop, and that it swung to a pretax loss in 2022.
---
Wickes 2022 Profit Fell on Non-Recurring Costs; Revenue Rose
Wickes Group PLC Thursday reported a fall in pretax profit for
2022, driven by non-recurring costs, and despite a rise in
revenue.
---
Crest Nicholson Says UK Housing Market Recovering; Early 2023
Sales Improving
Crest Nicholson Holdings PLC said Thursday that a recovery in
customer confidence and housing market activity is under way, with
sales improving in the new calendar year.
---
Inland Homes Shares to Be Suspended on 2022 Results Delay;
Considers Fund Raising
Inland Homes PLC said Thursday that it won't be able to publish
its 2022 results before the March 31 deadline and its shares will
be temporarily suspended, and it is contemplating a fund
raising.
---
C&C Sees FY 2023 Operating Profit Jump; To Resume
Dividends
C&C Group PLC said Thursday that it expects operating profit
for fiscal 2023 to nearly double on the back of increased revenue,
and that it seeks to return to dividend payments and further
capital returns.
---
Playtech Reports Record 2022 Earnings Driven by B2B Markets,
Snaitech
Playtech PLC said Thursday that adjusted pretax profit and
revenue rose in 2022, with record earnings driven by strength in
business-to-business markets and its Snaitech division.
---
Carr's Group FY 2022 Pretax Profit Rose Despite Higher Costs,
Supply-Chain Delays Hitting Engineering Unit
Carr's Group PLC reported Thursday a slight rise in pretax
profit for fiscal 2022 as revenue grew in its specialty agriculture
division, and despite a decline in engineering revenue due to
supply-chain issues and inflationary pressure.
---
Inchcape 2022 Pretax Profit Rise on Strong Sales; Raises
Dividend
Inchcape PLC said Thursday that pretax profit rose in 2022 on
growth across business segments and regional markets, and that it
has proposed a final dividend.
---
Audioboom Swung to 2022 Pretax Loss Despite Record Revenue
Audioboom Group PLC on Thursday reported a swing to pretax loss
for 2022 after booking share-based payment charges and despite
revenue hitting record levels, driven by higher monthly
downloads.
---
ECO Animal Health Sees FY 2023 Earnings Above Market Views;
Shares Rise
Shares in ECO Animal Health Group PLC rose 15% on Thursday after
the company said that it expects revenue and earnings before
interest, taxes, depreciation and amortization for fiscal 2023 to
be slightly ahead of market expectations amid strong performance in
Asia.
---
IDOX Expects Double-Digit Rise in FY 2023 Revenue
IDOX PLC said Thursday that it is well-placed to achieve
double-digit revenue growth in fiscal 2023 thanks to high levels of
recurring revenue, contract renewals, orderbook and a good
acquisition pipeline.
---
SRT Marine Systems Shares Rise on Narrowed FY 2023 Pretax Loss,
UK Contract News
Shares in SRT Marine Systems PLC rose Thursday after it said it
expects to report that pretax loss for fiscal 2023 narrowed as
revenue soared, and that it has agreed on a contract for a new U.K.
Coast Guard project worth 145 million pounds ($177.9 million).
---
Seplat Energy Terminates Consultancy Agreement, Files Suit
Against Former Chair
Seplat Energy PLC said Thursday that it has taken legal action
against its former chair after terminating a consultancy agreement
with its wholly-owned subsidiary and its co-founder with immediate
effect.
---
Zinnwald Lithium' Shares Jump on Premium Fund Raising
Shares of Zinnwald Lithium PLC rose 24% on Thursday after the
company said that it has raised 18.7 million pounds ($23 million)
via the premium share placing first announced late Wednesday.
---
888 Holdings Backs 2022 Guidance; Sees 2023 Earnings Meeting
Market Views
888 Holdings PLC said Thursday that its 2022 results will be
consistent with prior guidance, and it is confident in meeting
market expectations for adjusted earnings for 2023.
---
Osirium Technologies Shares Fall on Widened 2022 Pretax Loss
Shares in Osirium Technologies PLC fell 17% on Thursday after
the company reported a widened pretax loss for 2022 on higher
administrative expenses, despite higher revenue and record
bookings.
---
Pollen Street 2022 Pretax Profit Fell on Higher Costs
Pollen Street PLC said Thursday that 2022 pretax profit fell
after booking higher costs but that it was well-positioned through
its core strategies to drive long-term organic growth.
---
Sopheon Shares Rise on Higher 2022 Profit, Revenue
Sopheon PLC shares rose Thursday after it said its 2022 pretax
profit rose together with revenue, while adjusted earnings beat
market expectations.
---
Hardide Sees 1H Sales Up 7%, But Economic Headwinds Delaying
Customer Orders
Hardide PLC said Thursday that it has experienced growth across
its key markets over the first half of fiscal 2023 with sales 7%
ahead of the same period a year earlier.
---
GB Group Managing Director Nick Brown to Retire
GB Group PLC said Thursday that Group Managing Director Nick
Brown will retire from the board at the end of this month.
---
Marula Mining Hires Consultants, Lawyers, Ahead of London
Listing
Marula Mining PLC said Thursday that it is making continued
progress in its plans to float on London's junior AIM, with the
appointment of technical consultants and a law firm.
---
Gulf Keystone 2022 Pretax Profit Rose on Higher Production, Oil
Price
Gulf Keystone Petroleum Ltd. said pretax profit rose in 2022
thanks to an increase in oil prices and higher production, and that
it has declared a dividend payout.
Market Talk:
Gulf Keystone Petroleum Could Secure Multi-Year Production
Growth
1107 GMT - Gulf Keystone Petroleum's pending field-development
plan approval is key for future growth, Peel Hunt analysts write in
a research note. The oil producer in the Kurdistan region of Iraq
guides for gross average production in 2023 of 46,000-52,000
barrels per day, an 11% increase on year at the mid-point. But the
expansion of production is subject to a timely approval by the
Kurdistan regional government, which will be a key moment and will
signal a period of multi-year production growth, the analysts say.
Shares are up 3%. (christian.moess@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
March 23, 2023 08:39 ET (12:39 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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