Alternative Investment

FTSE 100 Closed Down 0.4% Amid World Bank Recession Warning

The FTSE 100 closed down 0.4% Tuesday as the World Bank warned the global economy is close to recession this year, while markets also await Thursday’s U.S. inflation data. The World Bank attributed to warning to “elevated inflation, higher interest rates, reduced investment, and disruptions caused by Russia’s invasion of Ukraine.” Meanwhile, Federal Reserve Chairman Jerome Powell said the U.S. central bank should concentrate on fighting inflation instead of switching focus to other priorities such as climate change. RS Group was the session’s biggest faller, down 4.8%. Admiral Group was today’s biggest riser, up 2.9%.

 
Companies News: 

RS Group Sees FY 2023 Profit at Top End of Views After 3Q Like-For-Like Revenue Growth

RS Group PLC said Tuesday that it expects fiscal 2023 profit to be toward the top end of consensus estimates after third-quarter like-for-like revenue growth was 8% despite a tougher economic backdrop and strong comparatives.

AO World Raises FY 2023 Guidance on 3Q Boost

AO World PLC on Tuesday lifted its core profit guidance for the year as it expects better-than-expected third-quarter results.

Shoe Zone FY 2022 Pretax Profit Rose on Strong Back-To-School Performance

Shoe Zone PLC said Tuesday that pretax profit for fiscal 2022 rose supported by a positive back-to-school performance, and declared a special dividend payout.

SIG Sees 2022 Revenue, Underlying Profit Rising on Successful Strategy

SIG PLC said Tuesday that it expects to report higher revenue and underlying operating profit in 2022, reflecting the success of its return to growth strategy and higher sales.

Games Workshop 1H Pretax Profit Fell on Higher Costs But Revenue Rose

Games Workshop Group PLC said Tuesday that pretax profit for the first half of fiscal 2023 fell amid higher costs and despite increased sales.

Hornby 3Q Sales Rose But Year-To-Date Sales Are Behind Budget

Hornby PLC said Tuesday that sales in its fiscal third quarter rose on year, though year-to-date sales are still behind budget, and forecast a modest full-year underlying pretax loss.

Card Factory 11-Month Sales Rose 28%, But Online Sales Hurt by Postal Strikes

Card Factory PLC said Tuesday that sales for the 11 months ended Dec. 31 were 28% higher than the same period of the previous year as it benefited from customers returning to the high street, although online sales were hurt by postal strikes as well as the return to stores.

Supreme Backs FY 2023 Views on Strong 3Q Performance

Supreme PLC said Tuesday that it remains well placed to meet market expectations for fiscal 2023 after robust trading across the third quarter.

Marks Electrical Nine-Month Revenue Rose 22% on Strength Across Product Categories

Marks Electrical Group PLC said Tuesday that nine-month revenue rose 22% after the company booked solid trading in the third quarter, with strength across product categories.

Unite Group Sold More Rooms in Advance; Backs Higher End of Guidance

Unite Group PLC said Tuesday that the number of rooms sold in advance for the coming academic year rose, and sees earnings per share growth in 2022 at the top end of guidance.

Nanosynth to Raise GBP400,000 via Discounted Share Placing

Nanosynth Group PLC said Tuesday that it is raising 400,000 pounds ($487,400) via a discounted share placing and will use the money to boost the company’s near-term commercial opportunities and for working capital.

Robert Walters 4Q Net Fee Income Grew Despite Uncertain Market

Robert Walters PLC said Tuesday that net fee income grew 8% in the fourth quarter, with growth across all forms of recruitment despite the more uncertain market.

Churchill China Sees 2022 Pretax Profit at Upper of Market Expectations

Churchill China PLC said Tuesday that pretax profit for 2022 is anticipated to be at the upper end of market expectations, supported by revenue growth in export markets.

Gulf Marine Services Sees in Line 2022 Ebitda

Gulf Marine Services PLC said Tuesday that it expects to report in line earnings before interest, taxes, depreciation and amortization for 2022 after it saw higher utilization levels and an increase in day rates.

Plus500 Says 2022 Results In Line With Views

Plus500 Ltd. on Tuesday said its results for 2022 were in line with expectations despite lower activity levels in financial markets towards the end of the year.

Advanced Medical Solutions Sees 2022, 2023 Performance in Line With Market Views

Advanced Medical Solutions Group PLC said Tuesday that it expects performance for both 2022 and 2023 to be in line with market expectations, supported by robust trading across its business.

Caracal Gold Shares Fall on Termination of OCIM Agreement

Caracal Gold PLC shares fell Tuesday after the company said a prepaid gold purchase agreement with OCIM Metals & Mining SA won’t proceed, as the long-stop date of Dec. 31 has passed.

Braveheart Investment Shares Fall as Portfolio Company’s Sales Miss Views

Braveheart Investment Group PLC shares fell Tuesday after it said that portfolio company Phasefocus Holdings Ltd.’s 2022 sales were lower than forecast.

Hostmore Shares Drop After 2H Revenue Fell Below Prepandemic Levels, CEO Leaves

Hostmore PLC shares fell Tuesday after it said its second-half revenue missed prepandemic levels, though revenue in December rose slightly, and said Chief Executive Officer Robert Cook has decided to step down with immediate effect.

Eden Research Shares Rise on 2022 Performance Ahead of Market Views

Eden Research PLC shares rose on Tuesday after the company said that its performance for 2022 is forecast to beat market expectations, driven by a significant increase in product sales.

Gresham Technologies Sees 2022 Revenue, Adjusted Ebitda Above Market Views

Gresham Technologies PLC said Tuesday that performance for 2022 is expected to be slightly above market expectations following a strong performance in the fourth quarter.

Trackwise Designs Shares Fall as Trading Resumes in London

Trackwise Designs PLC shares fell Tuesday after its trading was restored on London’s alternative investment market.

GlobalData Sees 2022 Results Beating Market Views; Guides for 2023 Outperformance

GlobalData PLC said Tuesday that its 2022 results were ahead of the top end of market forecasts, and it is in a strong position to deliver further growth with high revenue visibility.

Dekel Agri-Vision December Production Rose on Month But Fell on Year

Dekel Agri-Vision PLC said Tuesday that its palm-oil production rose on month in December, but fell on year compared to 2021’s record results.

Block Energy Names Ken Seymour as Chief Operating Officer

Block Energy PLC said Tuesday that it has named nonexecutive director Ken Seymour as chief operating officer, effective immediately.

Team FY 2022 Pretax Loss Narrowed on Revenue From Acquisitions

Team PLC on Tuesday said its pretax loss for fiscal 2022 narrowed as its revenue was boosted by the consolidation of its treasury services arm and the two financial advice and consultancy businesses it acquired.

C4X Discovery Holdings Appoints Nick Ray as Chief Scientific Officer

C4X Discovery Holdings PLC said Tuesday that it has appointed Nick Ray as chief scientific officer with immediate effect.

Norman Broadbent Appoints Mehr Malik as New Finance Chief

Norman Broadbent PLC said Tuesday that it has appointed Mehr Malik as chief financial officer from Jan. 16 January, replacing Steve Smith.

Curtis Banks Appoints Peter Docherty as Interim CEO

Curtis Banks Group PLC said Tuesday that it has appointed Peter Docherty as interim chief executive with immediate effect.

Sancus Lending To Close Guernsey, Gibraltar Branches As CFO Steps Down

Sancus Lending Group Ltd. on Tuesday said its Chief Financial Officer Emma Stubbs will step down as it restructures and closes two of its five offices.

Games Workshop Raises Dividend

Games Workshop Group PLC said Tuesday that it has increased its dividend payout for the first half of fiscal 2023.

Hornby Shares Fall on Expected Swing to FY 2023 Pretax Loss — Update

Hornby PLC shares fell Tuesday after the company forecast a swing to a modest fiscal 2023 underlying pretax loss, and said year-to-date sales are still behind expectations despite an increase in the third quarter.

 
Market Talk: 

RS Group’s 3Q Reflects Tough Comparatives and Market

1146 GMT – RS Group’s third-quarter like-for-like revenue growth of 8% compares with Citi’s forecast of 9% and this reflects tough comparatives and a more challenging market backdrop, the brokerage’s analysts say in a research note. The industrial and electronics products distributor could be exposed to a cyclical downturn in its industrial end markets, with demand being cyclically sensitive, but inorganic growth could become a bigger growth driver, they say. Citi has a neutral rating on the stock with a price target of 950 pence. Shares trade down 2.1% at 933.00 pence. (kyle.morris@dowjones.com)

Watches of Switzerland’s Valuation Doesn’t Reflect Potential Growth

1135 GMT – Watches of Switzerland’s valuation seems undemanding given the potential growth trajectory that the group has in the U.S. and EU, Shore Capital analysts Eleonora Dani and Clive Black say in a note. The luxury-watch retailer also benefits from the demand for luxury watches being way above supply, they say. “In our view, this is a management team executing its strategy well and adapting to dynamic market conditions,” they add. Looking ahead, Rolex’s consecutive price increases are likely to have a positive impact considering the brand is the main driver of the retailer’s revenues, they say. Shore has a buy rating on the stock. (michael.susin@wsj.com)

AO Should Look Beyond Core Offering to Boost Growth, Peel Hunt Says

(MORE TO FOLLOW) Dow Jones Newswires

January 10, 2023 12:59 ET (17:59 GMT)

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