RELX's 2022 Results Help to Drive FTSE 100 Higher
1011 GMT - RELX's full-year results were well received and helped to drive the FTSE 100 higher in early trade Thursday, AJ Bell investment director Russ Mould says in a research note. "Despite being one of the U.K. market's biggest companies, RELX tends to stay out of the spotlight and is often underappreciated by investors," he says. Shares in the British information and analytics company trade up 3.1% at 2,524.00 pence. (kyle.morris@dowjones.com)
Companies News:
Centrica Swung to 2022 Net Loss on Negative Remeasurements; Extends Buyback
Centrica PLC said Thursday that it swung to a net loss in 2022 on negative remeasurements of energy contracts, restarted its final dividend and extended its share buyback program.
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RELX 2022 Pretax Profit Rose But Failed to Meet Consensus
RELX PLC said Thursday that 2022 pretax profit rose due to higher adjusted pretax profit but failed to meet consensus, and that momentum remained strong across the group.
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SSP Group Had Strong Start to FY 2023 Boosted by Travel Recovery, Contracts
SSP Group PLC said Thursday that it has had a strong start to the new fiscal year with revenue exceeding pre-pandemic 2019 levels, driven by a continued recovery in passenger numbers, with strong demand over the holiday season, and new contracts.
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M.J. Gleeson 1H Profit, Revenue Fell on Land Unit Slip; Sees Reservations Improving
M.J. Gleeson PLC said Thursday that its first-half pretax profit and revenue fell on a drop in its Land unit profits, and said reservation rates are recovering.
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OnTheMarket Shareholder to Sell 3.1 Mln Shares at 76 Pence Each
OnTheMarket PLC said Thursday that Link Market Services is selling 3.1 million of the company's shares on behalf of Morgan Ross at 76 pence (91 cents) each.
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Indivior Swung to 4Q Pretax Loss on Exceptional Litigation Provision
Indivior PLC said Thursday that it swung to a fourth-quarter pretax loss after booking an exceptional provision, and that it expects 2023 to be another year of progress.
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Moneysupermarket.com 2022 Pretax Profit Rose On Travel Recovery, Money Volumes
Moneysupermarket.com Group PLC on Thursday posted an increase in its 2022 pretax profit driven by recovery in travel channels and strong trading volumes in money, and said it is confident in meeting views for the year ahead.
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Centrica Swung to 2022 Net Loss Although Adjusted Profit Soared; Extends Buyback -- Update
Centrica PLC said Thursday that it swung to a net loss in 2022 on negative remeasurements of energy contracts, though adjusted profits soared, restarted its final dividend and will extend its share-buyback program.
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Creo Medical Seeking to Raise GBP30.2 Mln to Maintain Business Momentum
Creo Medical Group PLC said Thursday that it is planning to raise around 30.2 million pounds ($36.3 million) via a share placing, subscription and shareholder open offer and will use the money to maintain momentum in the business.
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Kerry Group 2022 Profit Fell Despite Increased Revenue; Expects Growth in 2023
Kerry Group PLC said Thursday that its 2022 pretax profit fell although revenue rose, and that it expects to achieve growth in 2023.
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Bank of Georgia Increases Share Buyback Program, to Recommend Dividend
Bank of Georgia Group PLC on Thursday said that its board has approved an up to 148-million Georgian lari ($55.2 million) increase in its share buyback and cancellation program and that it intends to recommend a final dividend of GEL5.8 per share payable in pounds.
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Jaywing Shares Fall on Expected FY 2023 Earnings Miss, Revenue Slip
Jaywing PLC shares fell Thursday after the company said it expects fiscal 2023 earnings to rise but remain below market expectations, and revenue to slip on delayed client spending.
Market Talk:
Centrica Faces Inevitable Talk of More Windfall Taxes, AJ Bell Says
1031 GMT - Centrica's soaring 2022 earnings and cash flow will do nothing to lower scrutiny, and talk of more aggressive windfall taxes seems inevitable, AJ Bell says. The energy company's big earnings boost is the Ukraine-war driven energy crisis, which will sit uncomfortably with many, AJ Bell investment director Russ Mould says in a market comment. While most of its record profit didn't come from the retail-facing British Gas business but its energy-trading division, casual observers are unlikely to make the distinction, Mould says. "Centrica has demonstrated it can perform well when conditions are heavily weighted in its favor," he says. "To really win the market over it needs to do the same when it is not getting such a big external boost." Shares are up 4.7% at 103.2 pence. (joseph.hoppe@wsj.com)
Centrica Looks a Top Stock With Potentially Higher Earnings to Come, Citi Says
1026 GMT - Centrica has reported record 2022 profits, along with a surprising GBP300 million share buyback extension, Citi says. The energy company has a solid balance sheet that's getting even more robust, and it looks like one of the energy sector's top stocks, Citi analysts say in a research note. "Not only is Centrica generating a free cashflow yield of 20% that could lead to further shareholder returns, we also see upside risk of higher sustainable earnings and cashflow generation in the medium-term which is yet to be reflected in the current share price, in our view," the U.S. bank says. Citi reiterates its buy rating and 118 pence price target on the stock. Shares are up 4.7% at 103.2 pence. (joseph.hoppe@wsj.com)
Standard Chartered Signals Overarching Feeling Of Recovery
1022 GMT - Standard Chartered's full-year results showed a palpable sense of progress as most of its key metrics improved despite some fourth-quarter misses, says Interactive Investor in a market comment. "The crux of the investment case does not centre around bid speculation, rather the potential for growth in Asian economies and China in particular," says head of markets Richard Hunter, pointing to the reopening of the country as a turning point for the bank, which is perfectly positioned to capitalize on it in the short, medium and long term. Shares are up 1.7% at 741.6 pence and have risen 19.2% year-to-date. (elena.vardon@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
02-16-23 0634ET
