ASTRAZENECA PLC AstraZeneca Might Potentially Lose Billions in 2023
1159 GMT - AstraZeneca might have a more difficult year ahead than so far expected, analysts at Stifel say in a note. The Anglo-Swedish pharma giant might lose about $3 billion in sales of Covid-19 products--vaccine and treatment--between 2022 and 2023, they say. While sales of AstraZeneca's vaccine Vaxzevria were expected to drop significantly, monoclonal-antibody treatment Evusheld was supposed to be more resilient, but it isn't working well on new variants, Stifel says. Another potentially negative impact facing the company in 2023 is a small series of drugs that are facing competition from generics. "Individually, none represents a meaningful risk, in our view, but when considered together, we might end up with a global impact north of $1 billion," Stifel says. Finally, AstraZeneca will also face tax increases, Stifel notes. (cecilia.butini@wsj.com)
Companies News:
UnitedHealth's EMIS Group Acquisition Faces UK Competition Probe
The U.K. Competition and Markets Authority will investigate the acquisition of EMIS Group PLC by UnitedHealth Group Inc., it said Friday.
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SSE Raises FY 2023 Adjusted EPS Guidance to More than 150p
SSE PLC said Friday that it has raised fiscal 2023 adjusted earnings per share expectations to more than 150 pence ($1.86) from at least 120 pence, reflecting the strength of its business mix and certainty from strong operational performance.
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Spirent Sees 2022 Revenue Growth, Adjusted Operating Profit Ahead of Market Views
Spirent Communications PLC said Friday that it expects its 2022 results to meet expectations, with full-year revenue growth and an adjusted operating profit slightly ahead of market views.
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TheWorks.co.uk Backs FY 2023 Amid Continuing Economic Uncertainties
TheWorks.co.uk PLC said Friday that pretax loss for the first half of fiscal 2023 widened driven by higher costs and despite increased revenue, and that full-year guidance remains unchanged given the challenging macroeconomic backdrop.
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Mirriad Advertising Hangs Up 'for Sale' Sign
Mirriad Advertising PLC said Friday that it has started a strategic review of its options to maximize value, including an equity capital raising and formal sale process.
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Character Group Sees FY 2023 Sales, Profit Missing Market Views
Character Group PLC said Friday that it expects fiscal 2023 sales and underlying pretax profit to marginally miss market views.
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4imprint to Report 2022 Pretax Profit at Top End of Forecasts
4imprint Group PLC said Friday that it expects to report a pretax profit for 2022 at the upper end of analysts' forecasts, with revenue 45% higher after a strong finish to the year.
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TruFin Sees 2022 Performance in Line With Market Views, Boosted by Satago Revenue
TruFin PLC said Friday that it expects to report a full-year adjusted pretax loss in line with expectations, mainly supported by a robust revenue increase at its Satago business.
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Close Brothers Sees Resilient Five-Month Performance But Winterflood Activity Subdued
Close Brothers Group PLC said Friday that performance in the five months to Dec. 31 was resilient, but activity at its Winterflood division remained subdued.
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Circle Property Plans Capital Reduction, at Least GBP30 Mln Capital Return
Circle Property PLC said Friday that it intends to carry out a capital reduction and return capital to shareholders through the issue of B shares, subject to shareholder approval.
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Land Securities Names Ian Cheshire as Chair Designate; Cressida Hogg to Retire May
Land Securities Group PLC said Friday that it has appointed Ian Cheshire as an independent nonexecutive director and chair designate, replacing Cressida Hogg who will retire from the board after five years in the role.
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City of London Investment Group Funds Under Management Rose on Quarter
City of London Investment Group PLC said Friday that funds under management as at Dec. 31 were up on quarter, but were flat when compared with its fiscal 2022 year-end total on June 30.
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Petershill Partners' 2022 Aggregate Assets Under Management Rose
Petershill Partners PLC said Friday that aggregate assets under management as of Dec. 31 rose, and that it is well positioned to navigate the challenging macroeconomic backdrop given its asset diversification.
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Supply@Me Capital Sees Client Company Pipeline Growth in Late 2022
Supply@Me Capital PLC said Friday that it has seen a growth in the pipeline of client companies with warehouse-goods inventories suitable for monetization in the final months of 2022.
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Devro 2022 Adjusted Operating Profit to Beat Board Views; Revenue Grew 11%
Devro PLC said Friday that it expects adjusted operating profit for 2022 to be ahead of the board's expectations, with revenue up by 11% on a constant currency basis.
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Allergy Therapeutics 1H Revenue Fell on Production Pause, Streamlining
Allergy Therapeutics PLC said Friday that revenue fell in the first half of fiscal 2023 due to paused U.K. production and streamlining.
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Croma Security Solutions Finance Director to Stand Down; Appoints Teodora Andreeva to Role
Croma Security Solutions Group PLC said Friday that Finance Director Richard Juett will stand down on March 31 for personal reasons, and that Teodora Andreeva has been appointed to the role on April 1.
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Octopus Renewables Raises 2023 Target Dividend to Match Inflation
Octopus Renewables Infrastructure Trust PLC said Friday that it has increased its target dividend for 2023 to 5.79 pence (7.17 cents) a share.
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DSW Capital Shares Fall After Warning of FY 2023 Expectations Miss
Shares in DSW Capital PLC fell Friday after the company warned that it wouldn't be meeting market expectations for fiscal 2023 as its historically weighted second half was being hurt by "the wider macro-economic conditions and uncertainties.
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EMIS Sees 2022 Revenue, Adjusted Operating Profit in Line With Views
EMIS Group PLC said Friday that it performed strongly during 2022 and expects to report revenue and adjusted operating profit in line with its expectations.
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Australian Competition Regulator Seeks Views on Sika-MBCC Deal
Australia's competition regulator is seeking views on a proposed court-enforced divestment by Sika AG as part of the Swiss chemical company's acquisition of German-based construction chemicals company MBCC Group.
Market Talk:
BOE Most Likely to Raise Key Rate by 50Bps in February
1137 GMT - The Bank of England is most likely to raise the key rate by 50 basis points during its February meeting after the latest U.K. inflation and labor market data showed no signs of easing, says Barclays fixed income strategist Moyeen Islam in a note. "There is little in either release that would be enough to stay the MPC's hand and see a reduction in the pace of tightening from current levels," he says. Barclays expects a 50 basis-point rise in February, followed by 25bps in March, and has added a further 25bp hike in May 2023, taking its terminal rate to 4.50%, Islam adds. (miriam.mukuru@wsj.com)
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Deliveroo Lagging Rivals Despite Profit Acceleration
1138 GMT - Deliveroo has materially accelerated its profit trajectory, but it remains behind the curve when compared with rivals Just Eat Takeaway.com and Delivery Hero, Credit Suisse's Joseph Barnet-Lamb and Ben Shelley say in a research note. The U.K. food-delivery company has the least amount of control of its profit trajectory and therefore is the least favored pick in the online takeaway sector, the analysts say. "That said, we acknowledge the consistent execution and delivery from Deliveroo increasingly raises the potential of material consistent future profitability, something the market is not currently priced in," they say. Credit Suisse has a neutral rating on the stock with a target price of 116.00 pence. (kyle.morris@dowjones.com)
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
01-20-23 0825ET
