AB Foods Raises Caution Around FY23 Primark Outlook
0726 GMT - Associated British Foods' fiscal 2022 update shows that this year met expectations, but there is caution around Primark's margin outlook going into fiscal 2023, RBC Capital Markets says. The U.K. conglomerate expects fiscal 2023 adjusted operating profit and adjusted EPS to fall on year, primarily due to Primark's margin pressure from foreign exchange difficulties and higher energy costs, RBC analysts say in a research note. "Now that Primark has reopened its stores, we expect a strong recovery in sales, but margins are likely to be impacted by currency and other inflation pressures, and potentially if Primark has to invest more in improving the convenience of its offer," the Canadian bank says. RBC retains its sector perform rating and 1,700 pence target price on the stock. Shares are down 6% at 1,367.5 pence. (joseph.hoppe@wsj.com)
Thoma Bravo Doesn't Plan to Make an Offer for Darktrace
Thoma Bravo LLC said Thursday that it doesn't plan to make a formal offer for Darktrace PLC, without providing any explanation as to why.
DCC To Buy Medi-Globe Technologies
DCC said Thursday that its healthcare division has agreed to acquire the medical devices business Medi-Globe Technologies GmbH.
Darktrace Swung to FY 2022 Pretax Profit, Revenue Rose on Growth
Darktrace PLC said Thursday that it swung to a pretax profit for fiscal 2022 on increased revenue as it saw a rise in customer numbers.
Associated British Foods Sees FY 2022 Adjusted Profit Rising on Sales Growth
Associated British Foods PLC said Thursday that its fiscal 2022 adjusted operating profit and adjusted earnings per share are expected to surpass the previous year's on strong sales growth, and that it anticipates rising sales, but declining profit, in fiscal 2023.
Vistry 1H Pretax Profit Slipped on Cladding Costs; Backs FY 2022 Profit View
Vistry Group PLC said Thursday that pretax profit slipped for the first half of 2022 on exceptional costs related to building safety remediation, though revenue rose and it backed its full year expectations.
Melrose Industries 1H Pretax Loss Widened, Missed Forecast; To Demerge Two Businesses
Melrose Industries PLC said Thursday that its first-half pretax loss widened and missed a forecast after it booked higher costs, and that it intends to separate the GKN automotive and GKN powder metallurgy businesses via a demerger.
Funding Circle 1H Pretax Profit Fell, Cuts 2H Income Outlook
Funding Circle Holdings PLC said Thursday that pretax profit sharply fell in the first half 2022 and downgraded its income outlook for the second half, citing macro uncertainties.
Restaurant Group 1H Pretax Loss Narrowed as Revenue Increased
Restaurant Group PLC said Thursday that its pretax loss for the first half of 2022 narrowed as revenue rose significantly.
Warpaint London Raises 2022 Views on Strong Performance
Warpaint London PLC said Thursday that strong first-half trading has continued into the second half of 2022 and it now expects full-year results to be ahead of market expectations.
National Express Names Helen Weir as Next Chairwoman, James Stamp as Interim CFO
National Express Group PLC said Thursday that Helen Weir will be its next chairwoman, replacing current chairman John Armitt, and that James Stamp will be appointed interim chief financial officer on Nov. 1.
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