UK Wage Growth Momentum is Easing, But Pace Is Slower Than Expected
1225 GMT - The U.K.'s pace of private sector pay growth is easing although at a slower rate than previously thought, says Barclays analyst Abbas Khan in a note. "Thursday's labor report signals that the pace of the slowdown is slower than previously thought, posing risks to the falling path for wage growth suggested by forward looking indicators such as the REC/KPMG survey," he says. Average weekly earnings excluding bonuses increased 6.6% on year in that period, above the 6.2% expected in a WSJ poll of economists, data showed earlier. (miriam.mukuru@wsj.com)
COMPANIES NEWS:
Ninety One's Assets Under Management Fell on Quarter in 4Q
Ninety One PLC on Tuesday said that its assets under management for the fourth quarter of fiscal 2023 fell compared to the end of the previous quarter.
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UK Regulator Starts Investigation on the Key Group's Proposed Deal for RM Integris, RM Finance
The U.K.'s Competition and Markets Authority said on Tuesday that it is starting an investigation into the Key Group's proposed deal for RM Integris and RM Finance.
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Entain 1Q Net Gaming Revenue Rose as Customers at Record Level
Entain PLC said Tuesday that it has made a strong start to 2023, with increased net gaming revenue and record levels of active customers.
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easyJet Sees FY 2023 Profit Beating Market Views After 1H Pretax Loss Narrowed
easyJet PLC said Tuesday that it expects to beat market profit expectations for the full year, and that its headline pretax loss narrowed for the first half of fiscal 2023.
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GSK to Acquire Canadian BELLUS Health for Around $2 Bln
GSK PLC said Tuesday that it has reached an agreement to buy the late-stage biopharmaceutical company BELLUS Health Inc. for $14.75 a share in cash, representing a total equity value of around $2.0 billion.
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Cineworld Terminates Marketing Process for 'Rest of World' Business
Cineworld Group PLC said Tuesday that it has ended the marketing process for the 'rest of world' business.
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Network International 1Q Revenue Rose; Backs Full-Year Guidance
Network International Holdings PLC said that revenue rose 13% in the first quarter as signings grew significantly, and confirmed its 2023 guidance.
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Moneysupermarket.com 1Q Revenue Rose on Strong Insurance Growth
Moneysupermarket.com Group PLC said Tuesday that first-quarter revenue rose 15%, with growth in all four of its segments and particularly driven by an increase in its insurance division.
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THG Sees Margin Recovery in 2023 Driven by Revenue Growth, Ongoing Deflation
THG PLC said Tuesday that it expects a significant margin recovery for 2023 on the back of revenue growth, deflation and improved operating costs.
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Wise Posts FY 2023 Income Beat Boosted by 4Q Growth
Wise PLC said on Tuesday it beat its income guidance for fiscal 2023 as it reported double-digit growth in volumes and revenue over its fourth-quarter.
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M&C Saatchi 2022 Adjusted Profit, Revenue Rose on Growth, Cost Savings
M&C Saatchi PLC said Tuesday that adjusted profit and revenue rose for 2022 after it booked growth in its issues, consulting and passions divisions and made central cost savings.
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City Pub Swung to 2022 Pretax Profit On Postpandemic Sales Recovery
City Pub Group PLC said Tuesday that it swung to a pretax profit in 2022 as revenue sales returned to prepandemic levels.
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Petra Diamonds 3Q Revenue Fell Due to Tender Cycle Timings
Petra Diamonds Ltd. said Tuesday that revenue fell on quarter in the third quarter of fiscal 2023 as higher pricing at South Africa's Cullinan and Finsch sites was more than offset by tender cycle timings.
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Halfords Backs FY 2023 Profit Views, Sets Midterm Targets
Halfords Group PLC on Tuesday backed its fiscal 2023 profit guidance and laid out medium-term targets on the back of its platform leverage plans.
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IntegraFin 2Q Funds Under Direction Rose; Sees First-Half Revenue Slip On-Year
IntegraFin Holdings PLC on Tuesday said it expects revenue for the first half of fiscal 2023 to be slightly lower than the comparable period as it posted a rise in funds under direction over its second quarter.
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Franchise Brands Began 2023 With Strong Momentum, Confident Outlook
Franchise Brands PLC said Tuesday that it has started the new year well with continued momentum in its business-to-business division, and was confident in its outlook.
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Advanced Oncotherapy Seeks Nasdaq Quoted Buyer
Advanced Oncotherapy PLC said Tuesday that it is considering a possible sale of the business to Nasdaq quoted corporate vehicles as part of its review into funding options.
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Volex Sees FY 2023 Ahead of Market Views on Robust Revenue, Profit Growth
Volex PLC said Tuesday that fiscal 2023 performance was ahead of market expectations and that it has entered into fiscal 2024 with strong momentum.
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Mitie FY 2023 Operating Profit to Beat Expectations; Launches GBP50 Mln Buyback
Mitie Group PLC said Tuesday that fiscal 2023 operating profit is expected to exceed current guidance after it booked continued momentum in the fourth quarter and that it was launching a new 50 million pound ($61.9 million) share buyback.
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Porvair 1Q Revenue Rose as Supply-Chain Issues Ease
Porvair PLC said Tuesday that revenue grew 8% on a like-for-like basis in the four months ended March 31.
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Property Franchise 2022 Profit, Revenue Rose on Higher Fees
Property Franchise Group PLC said Tuesday that its pretax profit rose and revenue rose in 2022 due to higher fees amid growth in lettings and the full effects of its Hunters acquisition.
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Tatton's Assets Under Management Rose Over FY 2023; Sees Results in Line With Views
Tatton Asset Management PLC on Tuesday posted a 22% rise in its assets under management for fiscal 2023 and sees its full-year results in line with market views.
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Light Science Raises GBP1.6 Mln Via Discounted Subscription, Retail Offer
Light Science Technologies Holdings PLC said Tuesday that it has raised 1.6 million pounds ($2 million) through a share subscription and retail offer.
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Amala Foods Shares Dive on Return From Suspension
Shares of Amala Foods PLC fell 53% on Tuesday as the company returned from suspension having terminated a proposed transaction with Terra Rara UK Ltd. due to administrative issues relating to some of the mining assets of Terra Rara following due diligence.
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TouchStar Shares Rose After 2022 Pretax Profit Doubled
Shares in TouchStar PLC rose 12.5% on Tuesday after the company reported that its pretax profit more than doubled in 2022 and that it intends to introduce capital returns for shareholders.
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Xeros Technology Shares Fall as 2022 Loss Widens; Sees Profitability in 2H of 2024
Xeros Technology Group PLC shares fell Tuesday after it said that its 2022 pretax loss widened and revenue fell and said it expects profitability in the latter half of 2024.
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Kromek Shares Rise After 3Q Revenue Surged, Company Backs View of Strong FY 2023 Growth
Shares in Kromek Group PLC rose on Tuesday after the company said revenue rose close to 50% in the third quarter ended Jan. 31, and that it maintains its view of substantial revenue growth in the fiscal year ending April 30.
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Billington Posts 2022 Pretax Profit Bump, Raises Dividend
Billington Holdings PLC on Tuesday posted a significant rise in its pretax profit for 2022 as it completed larger contracts and improved factory efficiencies, and said it would pay out a considerably higher dividend for the year.
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Induction Healthcare Says It Is on Track for Cash Break-Even in FY 2024 After FY 2023 Revenue Rose
Induction Healthcare Group PLC said Tuesday that it is on track to reach self-sustaining growth and cash break-even in fiscal 2024, having completed its right-sizing plans for the business, and it fiscal 2023 revenue rose.
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HealthBeacon Appoints Lar Malone As CFO
HealthBeacon PLC said Tuesday that it has appointed Lar Malone, current interim chief financial officer, as new CFO.
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Triple Point Social Shares Rise on GBP5 Mln Buyback; Portfolio Sale Plans
Triple Point Social Housing REIT PLC shares rose Tuesday after it said it intends to buy back up to 5 million pounds ($6.2 million) of its shares, and proposed a sale of a portfolio of properties.
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Strip Tinning 1Q Performance in Line With Views; To Meet 2023 Market Expectations
Strip Tinning Holdings PLC said Tuesday that its first-quarter performance has been in line with the board's expectations with increased revenue and positive adjusted Ebitda, and that it is on track to meet full-year market views.
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Silver Bullet Data 1Q Revenue Reaches Record High on Robust Growth, Flat Costs
Silver Bullet Data Services Group PLC said Tuesday that first-quarter performance has been robust, supported by broadly stable costs and strong growth across key markets.
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ASA International Posts Higher 2022 Pretax Profit as Portfolio Quality Stabilized
ASA International Group PLC on Tuesday posted an 80% rise in pretax profit in 2022 despite a slip in clients numbers as portfolio quality stabilized across most of its markets.
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Saietta Group CEO Wicher Kist Resigns; To Become Short-Term CEO of Subsidiary Propel BV
Saietta Group PLC said Tuesday that its Chief Executive Officer Wicher Kist has resigned from the board and will take-up a short-term position at its subsidiary Propel BV as its chief executive.
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Microlise: Nick Wightman Takes Up Role as CFO
Microlise Group PLC said Tuesday that Nick Wightman has joined the board as an executive director in the role of chief financial officer.
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X5 Retail 1Q Sales Rose; Opens 437 New Stores
X5 Retail Group NV said Tuesday that net sales for the first quarter rose as the group continues to focus on strengthening its position in key regions.
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Sportech's Pretax Loss Widened in 2022, But Revenue Rose
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04-18-23 0846ET
