Next's Profit Reversal Predictions to Hint at U.K. Consumer Spending, Jefferies Says
1055 GMT - Next's predictions for 2023-24 will set the mood for U.K. consumer discretionary spending, Jefferies says in a note. In the fashion retailer's trading update in January, investors will be keen to see how big of a profit reversal it expects in the fiscal year ahead, the U.S. bank says, which assumes Next will anticipate profit to fall by around GBP100 million. Jefferies sees the group forecasting 2023-24 pretax profit of around GBP741 million, against consensus of GBP777 million and 2022-23 guidance of GBP840 million. "The appetite for the shares will largely reflect the time when investors will become more constructive towards UK consumer discretionary exposure," Jefferies says, keeping its hold rating on the stock. (elena.vardon@wsj.com)
Companies News:
Allergy Therapeutics' Shares to Be Halted Jan 3 Due to FY 2022 Accounts Delay
Allergy Therapeutics PLC said Thursday that trading in its shares will be suspended on Jan. 3 due to a delay in completing the audit for its fiscal 2022 accounts, which won't be published by the Dec. 31 deadline.
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Kazera Global Delays FY 2022 Results, Shares to be Suspended
Kazera Global PLC on Thursday said it is pushing back the publication of its results for fiscal 2022 and that its shares will be suspended from Tuesday.
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PRS REIT Gets Extension to GBP150 Mln Credit Facility
PRS REIT PLC said Thursday that it has agreed to an extension to its 150 million pound ($180.3 million) credit facility with Lloyds/RBS, providing it with extra time and flexibility to explore its funding options.
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Ferrexpo Aware Owner Kostyantin Zhevago Detained by French Authorities
Ferrexpo PLC said on Thursday that it is aware its Nonexecutive Director Kostyantin Zhevago has been detained by the French authorities in France.
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Bidstack Group Managing Director Francesco Petruzzelli Resigns
Bidstack Group PLC said Thursday that Managing Director Francesco Petruzzelli is resigning from his role and from the board.
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
12-29-22 0709ET
