EnSilica Shares Rise on Guidance for FY 2023 Earnings to Beat Market Views

EnSilica PLC shares rose Thursday after it said it expects fiscal 2023 earnings to significantly exceed market expectations, as it continued to perform well across the second half of the year.

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NextEnergy Solar Fund Plans to Divest 236MW UK Solar Assets Portfolio

NextEnergy Solar Fund Ltd. said Thursday that it has launched a program to divest a 236 megawatt portfolio of U.K. solar assets in order to accelerate its growth with further opportunities.

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International Personal Finance Sees 2023 Above Views After Rise in 1Q Customer Lending

International Personal Finance PLC said Thursday that it sees full-year results ahead of its internal expectations after it posted a 15% on-year rise in customer lending in the first quarter.

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Synectics Sees Results More Second-Half Weighted After Slow Start, But 2023 Forecast Stands

Synectics PLC said Thursday that although it anticipates 2023's results to be more heavily weighed toward to the second half than previously expected its forecasts for the year remain unchanged.

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Curtis Banks Appoints Ross Allan Interim COO as Jane Ridgley Retires

Curtis Banks Group PLC said Thursday that Ross Allan has been appointed interim chief operating officer effective May 1 as Jane Ridgley is stepping down from the role and retiring as director of all group companies.

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KEFI Gold & Copper Shares Rise on Financing Agreement for Ethiopia Project

KEFI Gold & Copper PLC shares rose Thursday after the company said it signed an agreement for the financing of the Tulu Kapi gold project in Ethiopia.

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Trending: AstraZeneca's Rising 1Q Profit Beat Expectations

1006 GMT - AstraZeneca is among the most mentioned companies across news items over the past six hours, according to Factiva data, after the company posted a higher first-quarter profit which beat analysts' expectations. The Anglo-Swedish pharma giant also backed its guidance for the full year, saying that it expects total revenue to increase by a low-to-mid single-digit percentage. Excluding Covid-19 medicines, total revenue is expected to increase by a low double-digit percentage, and core EPS is expected to increase by a high single-digit to low double-digit percentage, AstraZeneca said. Net profit for the quarter came in at $1.80 billion, up from $388 million the year prior, and beating analysts' expectations of $1.52 billion. Revenue, however, was hurt by a decline of $1.46 billion in sales of Covid-19 medicines, and came in at $10.88 billion from $11.39 billion in the same quarter of 2022, the company said. Dow Jones & Co. owns Factiva. (cecilia.butini@wsj.com)

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Indivior 1Q Net Profit Rises on Strong Momentum; Raises Revenue Guidance

Indivior PLC on Thursday reported a 7.3% rise in net profit for the first quarter of the year reflecting strong momentum across the business, and raised its full-year revenue guidance to include Opiant Pharmaceuticals and increased expectations for Suboxone.

MARKET TALK:

Schroders' 1Q Assets Mix Looks Less Favorable Despite On-Quarter Rise

1202 GMT - Schroders' assets under management mix looks less favorable, UBS says in a note after the London-listed asset manager posted an on-quarter rise in its AUM over the first quarter. "While Schroders' headline 1Q 2023 AUMs were in line with consensus, the miss in the higher-margin Schroders Capital business... results in a weaker AUM mix," say analysts Michael Werner and Amit Jagadeesh, adding that this explains the slightly negative market reaction. UBS rates the stock buy with a price target of 520 pence. Shares in the FTSE 100 group slip 1.2% at 475.6 pence. (elena.vardon@wsj.com)

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Sainsbury's Profit Falls as Price Caution Weighs

1157 GMT - Sainsbury's shares fall 1% after the U.K. grocer blamed investment and higher costs for lower annual underlying pretax profit, though it said it was at the top end of guidance. A focus on value has meant Sainsbury's has faced falling profit as it has tried to offer lower prices than rivals on certain products, worsened by higher operating costs, AJ Bell says. "Whereas big brand owners have been happy to push up their prices, Sainsbury's has been holding back from hiking its prices to try and get ahead of the competition," Bell's investment director Russ Mould writes. "That's bad for earnings, but positive for winning market share. The trick now is to keep any customers it's won from rivals." (philip.waller@wsj.com)

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Lancashire Holdings Stock Propped Up by 1Q Growth

1151 GMT - Lancashire Holdings posted stronger-than-expected growth, reassured with no significant large losses despite an active quarter for catastrophe, and flagged a robust capital position, Citi says in a note after the Bermuda-based insurer said its first-quarter gross written premiums rose by 23% on year. The GWP growth could apply some upward pressure to current full-year consensus estimates given its enhanced capital requirement ratio stands at 308% and is likely to contain some allowance for 1Q growth, says analyst Punit Rajesh Pandya. He adds that the growth rate of 117% is the highest attained in recent years and is broadly in line with expectations. Shares rise 3.7% at 596 pence. (elena.vardon@wsj.com)

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Lancashire Holdings Positive 1Q Should Boost Hopes for Peers

1143 GMT - Lancashire Holdings' positive first-quarter update should provide investors with confidence for peers Beazley and Hiscox, Jefferies says in a note. The Bermuda-based insurer's strong pricing led to a 23% increase in gross written premiums, as well as significant rate rises in property catastrophe, the U.S. bank says. Net losses from natural catastrophes, which weren't sufficiently material to disclose separately, should reassure given elevated losses in the U.S., it adds. Jefferies rates the stock buy with a price target at 785 pence. Shares rise 4% at 597.5 pence. (elena.vardon@wsj.com)


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04-27-23 0838ET