Ashtead Gains After 1Q Profit Boost, Guidance Increase
Shares in Ashtead Group rise 3% after the plant-hire company
reported higher first-quarter pretax profit and forecast full-year
results above its expectations. Ashtead has benefited from the
post-lockdown recovery and bolt-on acquisitions boosting revenue
and profit, Hargreaves Lansdown says. Still, the group has been
affected by supply-chain issues, the brokerage says. "An inability
to get its hands on new equipment as planned means the average age
of the fleet has increased slightly," HL analyst Sophie Lund-Yates
says. "This is by no means a huge cause for concern, but will
become more problematic if it's a trend that doesn't reverse sooner
rather than later."
Companies News:
Keystone Law Group 1H Pretax Profit Rose
Keystone Law Group PLC said Thursday that pretax profit rose for
the first half of fiscal 2022 as revenue increased, and that it
expects its performance for the year to be materially above market
expectations.
---
Circassia 1H Pretax Loss Narrowed
Circassia Group PLC on Thursday reported a narrowed pretax loss
for the first half of 2021, and said that business in July and
August has been slightly above Ebitda break-even.
---
Enwell Energy 1H Profit Rose on Higher Production, Prices
Enwell Energy PLC on Thursday reported a significantly improved
profit for the first half of the year, reflecting higher production
and gas prices.
---
Chamberlin Expects to Restore Profitability in FY 2022, Shares
Rise
Shares in Chamberlin PLC rose Thursday morning after the
castings and engineering group said that it expects to return to
profitability in the second half of the fiscal year.
---
Ecotricity's Good Energy Bid Accepted by Shareholders With 2.1%
Stake
Ecotricity Group Ltd. said Thursday its offer for Good Energy
Group PLC has been accepted by shareholders representing a 2.1%
stake in the capital of the renewable-energy retailer.
---
CMC Markets Agrees $18.3 Mln ANZ Share Investing Client Base
Transition Deal
CMC Markets PLC said Thursday that Australia & New Zealand
Banking Group Ltd.'s share investing client base will transition to
CMC for 25 million Australian dollars ($18.3 million).
---
Hilton Food's 1H FY 2022 Pretax Profit Fell
Hilton Food Group PLC on Thursday reported a decline in pretax
profit for the first half of fiscal 2022 and said that its growth
prospects remain strong.
---
Gemfields Anticipates 1H Net Profit of $23.8 Mln
Gemfields Group Ltd. said Thursday that it expects to report a
net profit of $23.8 million for the first half of the year.
---
Symphony Environmental Technologies Swung to 1H Pretax Loss
Symphony Environmental Technologies PLC said on Thursday that it
swung to a pretax loss after booking higher costs for the first
half, and that the board was confident about delivering meaningful
revenue growth in the short to medium term.
---
Oxford Nanopore to Raise GBP300 Mln in London IPO -- Update
Oxford Nanopore Technologies Ltd. said Thursday that it intends
to raise around 300 million pounds ($415.3 million) at its initial
public offering in London, half of which will be provided by
Texas-based software provider Oracle Corp.
---
Wickes Group Swung to 1H Pretax Profit; Says Prospects Are
Positive
Wickes Group PLC on Thursday reported a swing to a pretax profit
for the first half of 2021, noting that its digital strength and
capability continue to underpin its performance.
---
Regional REIT Swung to 1H Pretax Profit
Regional REIT Ltd. said Thursday that it swung to a pretax
profit for the first half, and that the U.K.'s economic activity
rebound stemming from an easing of the pandemic's restrictions
bodes well for the rest of the year.
---
Marley Group Considers London IPO
Marley Group Ltd. said Thursday that it is considering listing
on the main market of the London Stock Exchange.
---
McColl's Retail Appoints Karen Bird as Chief Operating
Officer
McColl's Retail Group PLC said Thursday that it has appointed
Karen Bird as chief operating officer with immediate effect.
---
Novacyt to Revise Down 1H Revenue Due to UK Covid-19 Contract
Dispute -- Update
Novacyt SA said Thursday that its revenue for the first half of
the year will be lower than originally announced as a result of its
dispute with the U.K. Department of Health and Social Care over a
supply contract, and that it will also book higher costs.
---
John Lewis Narrowed 1H Loss, But Signals Uncertainty Ahead
John Lewis Partnership PLC narrowed its first-half loss as sales
grew and it cut costs, but said its full-year outlook was uncertain
on supply-chain and cost pressures.
Market Talk:
Philip Morris Takeover of Vectura Offers Litmus Test on ESG
Dedication
1025 GMT - Philip Morris International's takeover of Vectura
looks like a test of how serious major companies are about ESG
concerns, AJ Bell says. The tobacco company's takeover was
relentless and it will need that energy to have hope of reaching
its target of $1 billion from "Beyond Nicotine" products by 2025,
AJ Bell's financial analyst Danni Hewson says. However, scepticism
remains given that $1 billion is still a tiny proportion of overall
cash generated, and that Philip Morris will still make money
playing both sides of the health spectrum--selling both tobacco and
inhalers, the brokerage says. "Discomfort is good, it tends to
deliver change, but care must be taken that the promised change
does come and there [are] no detours on the journey," Hewson
says.
---
Superdry's FY Pretax Profit Came in Ahead of Liberum Views
1025 GMT - Superdry's results for fiscal 2021 are better than
Liberum had expected on the pretax-profit line, the brokerage says.
The U.K. clothing brand is benefiting from a recovery seen in
growth from the fourth quarter, Liberum adds, noting that the
pandemic allowed the group to sharpen its strategy and strengthen
its leadership with new appointments. "We think the share price
weakness of the last few months will reverse and Superdry remains
one of our top picks," it adds. Shares are up 19% at 388.50
pence.
---
Ryanair's Upgraded Growth Target Could Lead to Consensus
Upgrades
1005 GMT - Ryanair's passenger numbers rising to 225 million by
March 2026from 149 million in March 2020 could see consensus
upgrades if profitability per passenger is maintained, UBS says.
"Indeed, an around 11% upgrade to passenger numbers versus our
passenger forecasts for 2026 at similar levels of profitability
would all else being equal also increase our net income from around
EUR2.3 billion to around EUR2.5 billion. There is the potential for
improved profitability per passenger given the gearing," the Swiss
bank says. UBS has a neutral rating on the stock and a EUR16.80
target price. Shares are up 6.4% at EUR16.34.
---
Surge in UK Breakeven Rates Drives Gilt Yields Higher
0737 GMT - Above-forecast inflation data in the U.K. triggered
an increase in breakeven rates, a measure of market-based inflation
expectations derived from the difference between nominal government
bond yields and comparable inflation-linked yields, says UniCredit.
Nominal government yields rose on both side of Atlantic, driven by
an increase in breakeven rates triggered by higher-than-expected
inflation data in the U.K., it says, adding that 10-year gilt
breakeven rates increased by 9 basis points.
Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka
Halas at sarka.halas@wsj.com
(END) Dow Jones Newswires
September 16, 2021 06:44 ET (10:44 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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