House Builder Shares Rise on Potential UK Stamp Duty Cut
1020 GMT – Speculation that the new U.K. government will unveil a stamp duty cut on Friday has breathed life back into house builders’ shares, which have been weak this year on fears of a property market slowdown, AJ Bell says. A now-reversed cut was implemented early on during the Covid-19 pandemic, which boosted property prices and transactions. “Investors have lost count of how many times the government has provided stimulus measures to the housing industry, and once again it looks like the sector will receive an energy boost from Number 10,” AJ Bell investment director Russ Mould says. Barratt Development shares are up 3.3% at 418.1 pence, Persimmon is up 3.9% at 1,389.0 pence, Taylor Wimpey gains 2.9% at 106.05 pence and Berkeley Group rises 1.5% to 3,558.0 pence. (email@example.com)
Land Securities London Portfolio Signs New Rent; Occupancy on the Rise
Land Securities Group PLC said Wednesday that operational momentum has continued in its central London portfolio, signing new rent, with occupancy rising since the end of fiscal 2022.
Keywords Studios 1H Pretax Profit Rose Amid Strong Demand Levels for Content
Keywords Studios PLC reported on Wednesday a significant rise in pretax profit for the first half of 2022, as revenue rose on strong demand levels for its content.
S4 Capital 1H Operating Loss Widened Significantly; FY Outlook Unchanged
S4 Capital PLC on Wednesday reported a significantly widened operating loss for the first half of 2022, and said its full-year like-for-like net revenue growth target remains unchanged at 25%.
Aveva Agrees to GBP9.48 Bln Takeover by Schneider
Aveva Group PLC said Wednesday that it has agreed to a 9.48 billion pound ($10.79 billion) takeover by its major shareholder French energy management and automation group Schneider Electric SE.
Galliford Try FY 2022 Pretax Profit Fell; Starts GBP15 Mln Share Buyback
Galliford Try Holdings PLC on Wednesday said that its fiscal 2022 pretax profit fell on a statutory basis, though it rose on an adjusted basis, and that it will buy up to 15 million pounds ($17.1 million) in a share-buyback program.
Ten Entertainment Swung to 1H Pretax Profit as Revenue Rose on Higher Sales
Ten Entertainment Group PLC said Wednesday that it swung to a first-half pretax profit as revenue rose on record sales, and that its performance for the year was in line with expectations.
Games Workshop Early FY 2023 Performance Meeting Views; Declares Dividend
Games Workshop Group PLC said Wednesday that core revenue rose and pretax profit slipped in the three months to Aug. 28, in line with expectations, and declared a dividend.
City Pub Swung to 1H Pretax Profit, Revenue Rose in Covid-19 Recovery
City Pub Group PLC said Wednesday that it swung to a pretax profit in the first half and that revenue rose significantly as it recovered from the effects of the coronavirus pandemic.
Pendragon 1H Pretax Profit Rose on Improved Margins
Pendragon PLC reported on Wednesday an increased pretax profit for the first half of 2022 helped by higher margins on new and used vehicles sales and that it expects supply shortfalls to remain.
WANdisco Signs $25 Mln Contract, Sees 2022 Bookings Beating Market Views
WANdisco PLC said Wednesday that it has signed a $25 million contract with a major global communications company, and that it expects 2022 bookings to significantly exceed market expectations.
LXI REIT in Discussions With Sainsbury’s Over GBP500 Mln Sale, Leaseback
LXI REIT PLC said Wednesday that it is in discussions to acquire a portfolio of grocery stores from J Sainsbury PLC on a sale-and-leaseback basis for an expected 500 million pounds ($569 million).
JD Sports Agrees to Deal Worth GBP5.5 Mln With Former Chairman Peter Cowgill
JD Sports Fashion PLC said Wednesday that it has reached a deal with former Executive Chairman Peter Cowgill, which includes enhanced restrictive covenants for a two-year period and a consultancy agreement.
Polyus 1H Revenue Fell on Lower Gold Sales, Higher Costs
Polyus PJSC said Wednesday that revenue fell for the first half as the volume of total gold sales decreased and its total cash cost per ounce sold, or TCC, rose 12% in the period to $435.
Petershill Partners Posts 1H Pretax Loss, Upgrades 2022 Views; Declares Dividend
Petershill Partners PLC on Wednesday reported a pretax loss for the first half of 2022, raised its full-year guidance and declared a dividend payout.
SRT Marine Systems to Report Improved 1H Performance Vs 1H 2022; Shares Rise
Shares of SRT Marine Systems PLC rose 11% on Wednesday after the company said that it expects to report earnings for the first half of fiscal 2023 that are better than the same period a year earlier following an excellent start to the year.
Frontier Developments FY 2022 Pretax Profit Fell Sharply on Higher Costs
Frontier Developments PLC reported on Wednesday a significant decline in pretax profit for fiscal 2022 after the company booked higher costs, and said the board remains confident about meeting views for fiscal 2023.
Warpaint London 1H Pretax Profit Rose on Strong Profit Margin; Raises Dividend
Warpaint London PLC on Wednesday reported an increased pretax profit for the first half driven by a significantly improved gross profit margin and higher revenue.
TP Group 1H Pretax Loss Narrowed on Lower Costs; TPG Maritime Hurt by Legacy Contracts
TP Group PLC said Wednesday that its first-half pretax loss narrowed after booking lower costs, and that the performance of its TPG Maritime division remains hampered by legacy contracts.
SDI Group Sees FY 2023 Earnings in Line With Market Views
SDI Group PLC said it has made a good start to the year and anticipates reporting full-year earnings in line with market expectations.
XPS Pensions Acquires Penfida Limited; Sees 2022 Ahead of Board Views
XPS Pensions Group PLC said Wednesday that it has acquired Penfida Limited for 11.6 million pounds ($13.2 million), and that it expects full-year performance to be above views.
Ten Entertainment’s 1H Boost in Sales Not Seen as a Temporary Surge
1004 GMT – Ten Entertainment’s 1H results and performance through to September show continued strong comparative growth versus 2019 levels with footfall now consistently more than 30% above pre-Covid-19 levels, Liberum analysts Anna Barnfather and Nishant Dahad say in a note. For the U.K. operator of family-entertainment centers this means that, alongside operational gearing, pretax profit margins of around 20% will lead to an increase of around 9% to GBP25 million in 2022 pretax profit estimates, and 3.2% to GBP29 million for 2023, the analysts say. “It is becoming evident that the boost in sales levels is not just a temporary reopening surge but rather a renewed base level of demand that is over 30% higher than before the pandemic,” they say. (firstname.lastname@example.org)
UK’s Vulnerable Sectors Need More Support From Energy Plans, Property Body Says
1003 GMT – The U.K. government’s energy bill relief program delivers on its promise to act quickly to provide support to businesses across the U.K. facing crippling energy price rises, the British Property Federation says. However, vulnerable sectors will need further targeted support and Business Secretary Jacob Rees-Mogg must continue look at all options, including measures to reduce the unsustainable burden of business rates, the property trade association says. “Now is the time to freeze the business rates multiplier for the next financial year to avoid significant inflationary uplifts and make sure that businesses whose rates are being reduced because of the last revaluation get the benefit of this reduction straight away,” the BPF says. (email@example.com)
Contact: London NewsPlus; firstname.lastname@example.org
(END) Dow Jones Newswires
September 21, 2022 06:42 ET (10:42 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.