FTSE 100 Falls as AB Foods Slides Following Performance Update

0834 GMT - The FTSE 100 falls 0.4% to 7754 points as shares in Associated British Foods decline after its latest trading update. AB Foods, the owner of retail chain Primark, reported a 20% rise in revenue for the 16 weeks to Jan. 7 but said it continues to expect full-year adjusted earnings per share to fall amid continuing "significant" cost pressures, sending its shares down 1.1%. Meanwhile, oil and gas giants BP and Shell decline as oil prices fall. A stronger sterling also weighs on dollar earners including Diageo, Reckitt Benckiser and Unilever. (renae.dyer@wsj.com) 


 
Companies News:

Senior Expects to Beat 2022 Market Profit Forecasts on Strong Flexonics Unit

Senior PLC said Tuesday that it expects to swing to a 2022 profit ahead of market expectations, reflecting a strong end to the year, particularly in its Flexonics division.

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Associated British Foods 1Q Revenue Rose on Resilient Consumer Spending

Associated British Foods PLC said Tuesday that revenue for the first quarter of fiscal 2023 rose on year after a better-than-anticipated consumer spending despite increasing cost pressures, and backed its fiscal 2023 expectations.

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M&C Saatchi Had Record 2022 Performance; Chair Gareth Davis to Step Down

M&C Saatchi PLC said Tuesday that it had a record performance last year with strong revenue in its higher growth specialisms and in the U.K. and Americas.

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Marston's Christmas-Period Sales Rose on Year, Has Hedged Electricity Costs for FY 2023

Marston's PLC said Tuesday that like-for-like sales rose 13% in the 16-week period to Jan. 21 compared with a year earlier and that its electricity costs are now hedged for its fiscal 2023 ending September.

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Pebble Beach Expects 2022 Results in Line With Expectations

Pebble Beach Systems Group PLC said Tuesday that it expects to report full-year 2022 results in line with expectations, following a strong performance in the second half.

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Henry Boot Sees 2022 Pretax Profit Just Below Market Views on Valuation Falls

Henry Boot PLC said Tuesday that it ended 2022 with a pretax profit slightly below market expectations due to year-end valuation movements offsetting strong sales, and that it expects 2023 to prove more challenging.

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THG PLC Appoints Damian Sanders as Chief Financial Officer

THG PLC said Tuesday that it has appointed Damian Sanders as chief financial officer with immediate effect, replacing John Gallemore who has been appointed chief operating officer.

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Smiths News Says FY 2023 Performance to Date Is in Line With Views

Smiths News PLC said Tuesday that its fiscal 2023 performance to date is in line with market expectations, supported by significant progress on contract renewals.

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Saga Backs FY 2023 Pretax Profit Guidance, Sees Revenue up to 50% Higher

Saga PLC on Tuesday backed its underlying pretax profit guidance for fiscal 2023 and said it expects revenue to be ahead of the previous year as its cruise and travel business benefited from the postpandemic recovery.

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Yu Group Expects to Exceed 2022 Guidance

Yu Group PLC expects to exceed annual guidance that it had upgraded in March, July, September and November, after a surge in revenue and profitability.

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City Pub Group COO Toby Smith to Step Down, Rupert Clark to Take Up Role

City Pub Group PLC said Tuesday Chief Operating Officer Toby Smith will leave the business on Jan. 27, and that group Managing Director Rupert Clark will take on the role.

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Robinson Sees 2022 Adjusted Profit, Revenue Rising

Robinson PLC said Tuesday that it expects to report 2022 adjusted operating profit that rose in line with market views, while revenue increased 10% on year.

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OnTheMarket Names Brand Architekts' Tom Carter as New CFO

OnTheMarket PLC on Tuesday named Tom Carter as incoming chief financial officer and said he will join the company after serving a six-month notice period with Brand Architekts Group PLC.

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Sportech Sees 2022 Earnings Beating Market Views on Strong Operations

Sportech PLC said Tuesday that it expects to report 2022 adjusted earnings before interest, taxes, depreciation and amortization ahead of market views on a strong operational performance.

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AB Foods Backs FY 2023 Views as Revenue Rises on Better-Than-Expected Consumer Spending -- Update

Associated British Foods PLC said Tuesday that revenue for the first 16 weeks of fiscal 2023 rose on year after better-than-anticipated consumer spending despite increasing cost pressures, and backed its full-year expectations amid lower inflation volatility.

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Artisanal Spirits 2022 Revenue to Beat Market Forecasts; Names Andrew Dane as CEO

Artisanal Spirits Co. said Tuesday that revenue last year grew 20% and is expected to be ahead of market forecasts.

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Ceres Power 2022 Revenue in Line With Guidance; Agrees China JV Structure

Ceres Power Holdings PLC said Tuesday that 2022 revenue was in line with guidance and that the structure of its joint venture in China with Weichai Power Co. and Robert Bosch GmbH has been agreed.

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Staffline Posts In-Line 2022 Revenue; Is Cautious on 2023

Staffline Group PLC on Tuesday posted 2022 revenue and gross profit in line with the previous year and said it looks ahead at 2023 with caution.

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Norman Broadbent 4Q, 2022 Net Fee Income Rose; Swung to Positive Full-Year Ebitda

Norman Broadbent PLC said Tuesday that group net fee income, or NFI, for the fourth quarter and 2022 rose, and that it swung to a positive Ebitda for the year.

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CyanConnode Holdings Raises GBP5.3 Mln via Oversubscribed Share Placing

CyanConnode Holdings PLC said Tuesday that it has raised 5.3 million pounds ($6.6 million) via an oversubscribed share placing announced late Monday.

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Accrol 1H Loss Narrowed on Higher Demand, Recovered Costs; CFO Richard Newman to Step Down

Accrol Group Holdings PLC said Tuesday that its first-half pretax loss narrowed as revenue significantly rose on higher demand and recovered costs, and that Chief Financial Officer Richard Newman intends to step down.

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Sureserve FY 2022 Profit Rose, Says It Is Confident For FY 2023

Sureserve Group PLC on Tuesday said its pretax profit for fiscal 2022 rose by around 41% on year and that it is confident for fiscal 2023.

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Bridgepoint Group to Buy Back Up to GBP50 Mln of Shares

Bridgepoint Group PLC said Tuesday that it plans to buy back up to 50 million pounds ($61.9 million) of its shares by Sept. 30.

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Accrol Strategic Review Identifies Paper Mill, Capital Returns as Priorities

Accrol Group Holdings PLC said Tuesday that it intends to build a sustainable paper mill and return cash to shareholders through dividends and buybacks following the completion of a strategic review.

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Aptitude Software 2022 Recurring Revenue Rose; Deputy CEO, CFO to Step Down

Aptitude Software Group PLC said Tuesday that it met 2022 market views with a rise in recurring revenue, and that Deputy Chief Executive Officer and Chief Financial Officer Philip Wood will step down in July.


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01-24-23 0353ET