Gilt Issuance to Focus Less on Long-Dated, Linker Gilts in FY2023-24

Gilt Issuance to Focus Less on Long-Dated, Linker Gilts in FY2023-24

1155 GMT - Issuance of long-dated gilts and index-linked--or linker--gilts is expected to decline in the fiscal year 2023-24 in terms of the total share of gilts issued as investors prefer the short-dated gilts, says UBS economist Anna Titareva in a note. Supply of short-dated and medium-dated gilts is expected to increase, she says. "Share of longs and linkers issuance should decline to 20% and 10% respectively while 70% of the issuance may be skewed towards short and medium maturities," she says. In FY2022-23, long-dated gilts and linker gilts issuance accounted for around 34% of the total gilts supply while short and medium dated gilts accounted for around 65%, data from U.K. Debt Management Office show. ([e-mail])

COMPANIES NEWS:

Capita to Sell Resourcing Business to Inspirit Capital for GBP21 Mln

Capita PLC said Monday that it has agreed to sell its resourcing business to private equity investment company Inspirit Capital for 21 million pounds ($25.3 million) on a cash free, debt free basis.

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Foxtons Acquires Estate Agent Atkinson McLeod for GBP7.4 Mln -- Deal Digest

ACQUIRER: Foxtons Group PLC, a U.K. real-estate agency.

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Kingswood Holdings Confirms Talks on Sale or Third Party Investment of U.K. Operations

Kingswood Holdings Ltd. on Monday said that talks have taken place on the potential sale or third party investment of its U.K. business operations as part of its strategic options, confirming recent press speculation.

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Seeing Machines 1H Pretax Loss Narrowed on Increased Revenue

Seeing Machines Ltd. said Monday that its pretax loss halved in the first half of fiscal 2023 as original equipment manufacturer revenue jumped 268% on year to $14.0 million.

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Craneware 1H Pretax Profit Falls Despite Higher Revenue; Sees FY 2023 in Line

Craneware PLC said Monday that pretax profit fell in the first half of fiscal 2023 after booking higher finance expenses and despite higher revenue, and that it sees results for the year in line with consensus.

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1Spatial Expects to Report FY 2023 Pretax Profit, Revenue Rise

1Spatial PLC said Monday that it expects to report a rise in pretax profit and revenue for fiscal 2023 and that momentum has continued into fiscal 2024.

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Clarkson 2022 Pretax Profit, Revenue Rose Boosted by Broking Division

Clarkson PLC said on Monday that its pretax profit rose in 2022 driven mainly by sales in its broking division, and raised its dividend.

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Home REIT Sees Two Tenants Representing 18% of Rent Enter Liquidation

Home REIT PLC said Monday that two tenants, making up a combined total of 18.2% of its annual rent, have entered creditors voluntary liquidation, and it has opened discussions with new prospective tenants.

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James Fisher Sells Nuclear Business for Nominal Sum; Sees 2022 Revenue Rising

James Fisher & Sons PLC said Monday that it has sold James Fisher Nuclear Holdings Ltd. and related properties to Rcapital Partners LLP for a nominal consideration, and it expects 2022 revenue to rise.

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Fusion Antibodies Sees Lower FY 2023 Revenue On Order Delays

Fusion Antibodies PLC on Monday said it expects its revenue and earnings for fiscal 2023 to be significantly lower than market expectations due to continued uncertainty over the timing of anticipated orders from project delays as clients seek further investment.

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ADVFN 1H Pretax Loss Widened Amid Management Disruptions

ADVFN PLC on Monday reported a swing to pretax loss for the first half of fiscal 2023 on lower revenue amid disruptions to management and structure changes in the period.

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GreenRoc Mining to Raise GBP550,000; Reaches Greenland Development Agreement

GreenRoc Mining PLC said Monday it aims to raise 550,000 pounds ($662,365) via a discounted placing which it will use toward its graphite project in Greenland, and that it signed a preliminary agreement with Norway's Leonhard Nilsen & Sonner AS in relation to the project's development.

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RA International CFO Andrew Bolter to Step Down

RA International Group PLC said Monday that Chief Financial Officer Andrew Bolter has decided to step down, effective Aug. 31.

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BATM Advanced Communications' 2022 Pretax Profit, Revenue Fall

BATM Advanced Communications Ltd. said Monday that 2022 pretax profit and revenue fell amid lower sales of Covid-19-related products.

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AssetCo to Buy Ocean Dial for GBP4.1 Mln

AssetCo PLC said Monday that it has agreed to buy Ocean Dial Asset Management Ltd. from Avendus Capital Asset Management for 4.1 million pounds ($4.9 million).

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Mac Alpha Raises GBP600,000 Via Share Issue

Mac Alpha Ltd. on Monday said it has raised 600,000 pounds ($722,580) via share issue and posted a pretax loss for the second half of 2022.

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Trellus Health Sees 2022 Ebitda Loss, Higher Revenue

Trellus Health PLC said Monday that it expects to report an Ebitda loss and higher revenue for 2022.

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Lookers Buys Fourways Vehicle Solutions

Lookers PLC said Monday that it has bought vehicle-hire and brokerage business Fourways Vehicle Solutions Ltd.

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MacFarlane Buys A.E. Sutton for GBP9 Mln

MacFarlane Group PLC said Monday that it has bought A.E. Sutton Ltd. for around 9 million pounds ($10.8 million), as part of the company's 'buy and build' strategy.

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Pantheon Resources Says Production at Alaska Well Has Restarted After Blockage

Pantheon Resources said on Monday that production restarted at its Alkaid #2 well in Alaska on Feb. 21 after the completion of the sand blockage clean-out.

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Power Metal Resources Swings to FY 2022 Net Profit

Power Metal Resources PLC on Monday reported a swing to net profit for fiscal 2022 after booking a capital contribution due to the completion of a capital reorganization by Golden Metal Resources PLC.

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Bluebird Merchant Ventures Raises $1.4 Mln Via Discounted Share Placing

Bluebird Merchant Ventures Ltd. said Monday that is has raised 1.2 million pounds ($1.4 million) via a discounted share placing and subscription to fund production at its Kochang gold and silver mine in South Korea.

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Adaptimmune to Buy TCR Therapeutics in $103M Stock Swap >ADAP TRCC

Adaptimmune Therapeutics PLC on Monday said it agreed to buy fellow cell-therapy company TCR Therapeutics Inc. in a stock swap worth around $103 million.

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Starcrest Education Appoints Jasbeer Singh as Nonexecutive Chairman

Starcrest Education Ltd. said Monday that it has appointed Jasbeer Singh as nonexecutive chairman.

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Realty Income Inks $1.5 Bln Sale Leaseback Deal For Cumberland Farms And Other Stores -- MarketWatch

Realty Income Corp. (O) said Monday it reached a $1.5 billion sale leaseback deal to acquire up to 415 single-tenant convenience store properties located in the U.S. from EG Group, a convenience retailer based in the U.K. The portfolio includes Cumberland Farms, Tom Thumb, Fastrac and Sprint stores, with an average property size of about 3,700 square feet. The transaction is expected to close in the second quarter. Realty Income Corp. stock is up 1.7% in 2023, compared to a 5.4% rise by the S&P 500 .

MARKET TALK:

BATM Carries Strong Momentum Into 2023

1326 GMT - BATM Advanced Communications is delivering strong underlying progress across the development of its technologies, presenting a profitable high-growth opportunity, Shore Capital's Robin Speakman says in a research note. "As underlying progress continues towards commercialisation, positive operating leverage to reported results should be expected in due course," Speakman adds. The London-listed provider of telecommunications technology and medical-laboratory systems reported strong 2022 results, slightly ahead of Shore's revised profit expectations, the analyst says, adding that BATM exits the pandemic as a stronger business and, encouragingly, the strong momentum in 2H has continued into 1H 2023. ([e-mail])

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Aston Martin's Outlook Might Start to Improve

1250 GMT - Aston Martin Lagonda's shares rose as much as 23% before falling 15% on Monday, as investors may be inferring that the group's prospects are no longer deterioriating after its 2022's earnings last week, AJ Bell Investment Director Russ Mould? says in a note. Despite the luxury car maker's mixed results, the positive news was the absence of profit warning--given the continued performance deterioration since its IPO in 2018--Mould notes. "The logic then may be that if things are not getting worse, then they could start to get better, and if they start to get better, then the shares could start to motor," he adds. ([e-mail])

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MacFarlane's Sutton Acquisition Is Well-Timed as Industrial Markets Recover

1218 GMT - MacFarlane's acquisition of A.E. Sutton Ltd. is well-timed as industrial markets are continuing to recover and it should immediately enhance earnings, Shore Capital analysts Robin Speakman and Akhil Patel write in a research note. As a result of the acquisition, the U.K. packaging company's adjusted pretax profit is expected to rise around 5% on year in 2023 to GBP24.6 million, reflecting increased interest costs. Revenue and adjusted EBIT should each rise 8% to GBP312.8 million and GBP27.0 million, respectively, they say. Shore Capital is the house broker of MacFarlane and as such doesn't give recommendation on the stock. Shares are up 1.40%. ([e-mail])

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(END) Dow Jones Newswires

03-06-23 0914ET