Sterling Has Room to Extend Losses Vs Dollar
0843 GMT - Sterling has scope to extend its recent depreciation against the dollar as the Bank of England may fail to deliver on the market's interest rate-rise expectations, Unicredit Research says. The steady GBP/USD erosion suggests that there is room for a further drop, potentially below 1.20, "especially if there are only a couple of rate hikes by the BOE in the pipeline for this year, which is what we expect, against a forward curve still pricing in a peak rate of close to 2.50%," Unicredit analysts say in a note. The BOE's benchmark rate is currently at 0.75%. GBP/USD rises 0.8% to 1.2555, recovering some ground after reaching a near 22-month low of 1.2412 on Thursday. (email@example.com)
Pearson 1Q Underlying Revenue Rose; Backs Full-Year Outlook
Pearson PLC said Friday that first-quarter underlying sales grew 7% and that it continues to expect to meet its 2022 financial expectations.
Westminster 2021 Loss Widened as Revenue Fell 29%
Westminster Group PLC on Friday reported a widened loss for 2021 and provided a positive outlook for the current year.
M&C Saatchi Swung to 2021 Pretax Profit on New Business
M&C Saatchi PLC said Friday that it swung to a pretax profit for 2021 after securing new business, and that it is performing in line with expectations for the first three months of 2022.
Travis Perkins Says Toolstation 1Q Sales Fell
Travis Perkins PLC said Friday that sales for its Toolstation brand fell 6% in the first quarter, although group sales rose 14% as the company saw a positive start to the year.
Reckitt Benckiser 1Q Revenue Rose as Prices Were Hiked
Reckitt Benckiser Group PLC said Friday that its first-quarter revenue rose 5.6% on a like-for-like basis as it increased prices, and that it expects like-for-like revenue growth for the year to be at the top end of its forecast range.
Hikma Pharmaceuticals Says Generics Business Had Slow Start to 2022; Raises Guidance
Hikma Pharmaceuticals PLC said Friday that although its generics business had a slow start to 2022 due to increased competition and a challenging pricing environment, it raised its full-year guidance to include a contribution from recently acquired Custopharm.
Nightcap 3Q Sales Rose on Positive Trading
Nightcap PLC said Friday that third-quarter net sales rose after positive trading and strong growth in at Barrio Familia.
Kingspan Reports Record 1Q as Sales Jumped 47%
Kingspan Group PLC said Friday that it had a record first quarter, with sales growing 47% on year.
NatWest 1Q Profit Rose Ahead of Views Amid Higher Interest Rates -- Update
NatWest Group PLC said Friday that first-quarter pretax operating profit rose ahead of market expectations, boosted by higher interest rates.
SIG PLC 1Q Sales Rose; Sees 2022 Significantly Ahead of Previous Views
SIG PLC said Friday that first-quarter sales were ahead of expectations and that it expects to report full-year performance significantly ahead of previous views.
AO World Expects to Report FY2022 Revenue Fall on Strong Comparatives
AO World PLC said Friday that it expects to report revenue for fiscal 2022 fell around 6% due to the exceptionally strong comparatives with fiscal 2021, and that it was confident of its long-term prospects despite current challenges.
AstraZeneca Expects Decline in Covid-19 Medicine Sales in 2022 -- Update
AstraZeneca PLC on Friday said that it expects sales of its Covid-19 medicines, including its vaccine, to decline by a low-to-mid-20s percentage during the year, though it reported higher first-quarter revenue on the back of previous vaccine contracts.
AIB Group in Talks With NatWest for Ulster Bank's Tracker Mortgages
AIB Group PLC said Friday that it has entered into exclusive talks with NatWest Group PLC to buy Ulster Bank's tracker mortgages of around six billion euros ($6.30 billion) after receiving competition clearance for the transaction.
Carclo Sees Significant Headwinds in FY 2023 From Asia and Ukraine War; Shares Fall
Shares in Carclo PLC fell on Friday after the company said it was experiencing significant headwinds from the effect of Covid-19 in China and India as well as market uncertainty related to the Ukraine war, and that the early months of fiscal 2023 will remain challenging.
International Public Partnerships Increases Planned Fund-Raising to GBP325M
International Public Partnerships Ltd. said Friday that it has increased its planned fund-raising to 325 million pounds ($404.9 million) because of significant investor demand.
Rotork 1Q Broadly In-Line Amid Supply Challenges, Russia Exit
Rotork PLC said Friday that its first-quarter performance was broadly in-line with views, with revenue down by mid-single digits on year after it experienced component availability challenges and ended deliveries to Russia.
Up Global Sourcing 1H Pretax Profit Rose, Driven by Salter Acquisition
Up Global Sourcing Holdings PLC said Friday that pretax profit and revenue for the first half of fiscal 2022 rose, driven by its recent acquisition of U.K. homeware brand Salter, and that it expects its full-year performance to be in line with market views.
Ingenta 2021 Final Results Delayed to End-June; 1Q 2022 in Line With Board Views
Ingenta PLC said Friday that publishing of its final results for 2021 will be delayed to the end of June, and that its performance in the first quarter of 2022 was in line with the board's expectations.
Mixed Picture for AstraZeneca's Covid-19 Business
0855 GMT - AstraZeneca expects revenue from its Covid-19 vaccine to decline this year as demand for immunization drops around the world. While the vaccine boosted sales in the first quarter, most of the demand stemmed from contracts signed at the outset of the pandemic, which the company expects to complete by the end of the second quarter. At the same time, the company expects sales of its preventative Covid-19 antibody treatment Evusheld to grow this year. The U.S. government has ordered a total of 1.7 billion doses which it plans to distribute free of charge to immunocompromised people. While the Omicron BA.2 variant has rendered some antibody treatments ineffective, Evusheld has shown to remain effective against the strain, which is now dominant in the U.S. and many other parts of the world. (firstname.lastname@example.org ; @deniseroland)
AstraZeneca 1Q Figures Beat Expectations
0826 GMT - AstraZeneca's first-quarter revenue showed a 4% beat, mostly on higher sales of its Covid-19 vaccine Vaxzevria and greater income from collaborations than expected, Jefferies analysts say in a note. Best-selling oncology drugs Imfinzi and Lynparza performed weaker than expected, but Tagrisso and Calquence were broadly in line, the analysts say. The Anglo-Swedish pharma major reiterated its 2022 outlook, and consensus now stands at the upper-end of the revenue target, and at the midpoint of the core EPS aim, they say. The company could provide more color on its phase-3 breast-cancer DESTINY-Breast04 trial and on the impact on lockdowns in China when it hosts a call later on Friday, Jefferies says. (email@example.com)
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(END) Dow Jones Newswires
April 29, 2022 05:55 ET (09:55 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.