UK Housebuilders Fall as Market Hits Weakest -2-

Secure Trust Bank’s New Business Lending Fell in 4Q Amid Tightened Credit Criteria

Secure Trust Bank PLC said Thursday that new business lending fell 11% in the fourth quarter after the company tightened credit criteria due to the current macroeconomic environment.

Kooth Sees 2022 Revenue in Line Market Views as Expansion Progresses

Kooth PLC said Thursday that it expects to report 2022 revenue in line with market expectations as it looks to expand across the U.K. and into the U.S.

Keywords Studios Names Donald Robert as Next Chairman

Keywords Studios PLC said Thursday that Donald Robert has been appointed chairman designate effective Feb. 1, and that he will become chairman at the company’s annual general meeting in May.

Arecor Therapeutics Sees 2022 Meeting Market Expectations

Arecor Therapeutics PLC said Thursday that it expects to report 2022 results in line with market expectations, and that it closed the year with a strong cash balance.

CPPGroup Sees 2022 Revenue From Core Business Rising, Earnings Beating Market Views

CPPGroup PLC said Thursday that it expects 2022 revenue from continuing operations rose and earnings from continuing operations to beat market views, as it carries out its migration to an insurtech business.

Kodal Minerals Shares Rise After $117.75 Mln Funding for Bougouni Lithium Project

Kodal Minerals PLC shares rose on Thursday after the company said it has agreed a $117.75 million conditional funding package for the Bougouni lithium project in Mali, and that it will dispose one of its projects.

Dr. Martens Shares Dive After Profit Warning

Shares of Dr. Martens PLC fell as much as 28% on Thursday after the bootmaker warned on its performance, citing slower than expected direct-to-consumer growth in America as well as operational issues at its new Los Angeles distribution centre.

 
Market Talk: 

Dr. Martens’ Pivot to Wealthy Customers Could Put it on Risky Footing

0928 GMT – Dr. Martens’ attempt to reposition toward wealthier clients can bring risks ahead, Hargreaves Lansdown analyst Susannah Streeter says in a note after shares fall over 20% following a profit warning. The British footwear and clothing brand’s plan to reduce the number of boots being sent to retail channels could avoid strong discounting, but at the same time lower volumes will also hit revenue, Streeter says. The company could have long-term benefits if it gets accepted by higher-income consumers, the analyst say. “However, trends do still wax and wane and there is still a risk that the pulling power of Dr Martens could fade over time,” Streeter adds. (michael.susin@wsj.com)

 

Contact: London NewsPlus, Dow Jones Newswires;

(END) Dow Jones Newswires

January 19, 2023 05:39 ET (10:39 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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