UK supermarkets forecast to relatively outperform the retail sector
0813 GMT – Shore Capital says it cannot be sure UK supermarkets’ overall revenue, or their supply chains, will be immune to the effects of the current cost inflation environment. However, the nature of the grocery store means it will retain resilient economic characteristics assuming effective UK government intervention, especially as the supermarket’s balance sheets and solvency ratios are strong and robust, the group says. British investment in a note. “In such contexts, supermarkets will likely continue to outperform more discretionary retail as a whole relatively,” Shore said. (sabela.ojea@wsj.com; @sabelaojeaguix)
Companies News:
Petroneft Resources shares fall amid Nord Imperial dispute
Shares of Petroneft Resources PLC fell on Tuesday after the company said it was phasing out its wells in Russia’s License 61 field as Nord Imperial LLC temporarily suspended accepting and transferring oil from the field.
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Bigblu Broadband 1H Adjusted profit stable, revenue increased after strength in Australia
Bigblu Broadband PLC said on Tuesday that adjusted profits were flat for the year and revenue increased due to the strength of its Australian business and lower churn.
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Bunzl 1H profit before tax, sales up; Raises operating margin expectations for 2022
Bunzl PLC said on Tuesday that its first-half profit and pretax revenue increased, driven by both acquisitions and organic growth, and that it raised its operating margin guidance for the entire business. ‘year.
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Surface Transforms wins £13m contract from Battery-EV company
Surface Transforms PLC announced on Tuesday that it has been selected as a Tier 1 supplier of a carbon-ceramic brake disc for a battery electric vehicle company.
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Insig AI draws £240,000 from loan deals
Insig AI PLC said on Tuesday that a further 240,000 pounds ($280,968) of two convertible loan facilities had been drawn down.
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Diurnal Group agrees to high-premium $56.5 million takeover by Neurocrine Biosciences
Diurnal Group PLC announced on Tuesday that it has agreed to a £48.3 million ($56.5 million) takeover by Neurocrine Biosciences Inc.
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CFO of DP Poland resigns
DP Poland PLC announced on Tuesday that Chief Financial Officer Malgorzata Potkanska will step down with effect from September 30.
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Joules says discussions with Next remain positive, in place
Joules Group PLC said on Tuesday it continued to be in talks with Next Plc about a potential equity stake in the company and using Next’s total platform services to support its plans to expand. expansion.
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Revolution Beauty shares to be suspended due to delayed fiscal 2022 results
Revolution Beauty Group PLC said on Tuesday that its shares will be suspended from AIM trading from Thursday because it will not be able to release its audited results for the 2022 financial year on Wednesday.
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Braemar Shipping Services Boosts FY2023 Profits on Exceptionally Strong Trading
Braemar Shipping Services PLC said on Tuesday it raised its expectations for 2023 underlying operating profit after recording unusually strong transactions in the first five months.
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Centralnic moved to a pre-tax profit in the first half as revenue increased due to organic growth
Centralnic Group PLC said on Monday it had moved to a pre-tax profit for the first half of 2022 as revenue rose on continued organic growth supplemented by acquisitions, and was at the upper end of the forecast. board of directors.
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Biffa and Energy Capital further extend the takeover decision deadline
Biffa PLC said on Tuesday that the deadline for private equity firm Energy Capital Partner LLC to make a formal offer or walk out of takeover talks has been further extended.
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Dechra Pharmaceuticals buys US veterinary pharmaceutical group Pharmex for $260 million
Dechra Pharmaceuticals PLC on Tuesday announced that it has acquired California-based veterinary pharmaceutical maker Pharmex, Inc. for $260 million, debt-free and cash-free.
Market Talk:
Bunzl drops as margin outlook disappoints investors
08:41 GMT – Shares of Bunzl topped the FTSE 100 fallers, down 4% after the retail group’s margin forecast disappointed investors. “While it has raised its operating margin outlook, it is still expected to fall for the full year compared to 2021,” Interactive Victoria Scholar’s chief investment officer said in a note, adding that while demand for the company’s products has increased during the pandemic, it has faced tougher times as conditions have become more normal. “Global geopolitical uncertainty and equity market turmoil weighed on the stock between April and June, but since the lows, Bunzl has been on a strong uptrend, rallying more than 20%. Shares are returning some of that earnings today.” (philip.waller@wsj.com)
Bunzl shares disappointing outlook
08:34 GMT – Shares of Bunzl fell early in the session after its first-half earnings disappointed investors, according to Interactive Investment. The retail and outsourcing group raised its operating margin outlook, but still expects its 2022 margin to decline year-over-year, Victoria Scholar, head of markets at Interactive Investor, said in a research note. “The stock initially fell to the bottom of the FTSE 100, losing more than 5%, but has since pared some of those losses,” Scholar said. Global geopolitical uncertainty and equity market turmoil weighed on the stock between April and June, but since the lows, Bunzl has been on a strong uptrend, rallying more than 20%. Stocks are giving back some of those gains today, says Interactive Investor. The shares are down 4.2% at 2,984.0 pence. (joseph.hoppe@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswire
August 30, 2022 06:06 ET (10:06 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
