Bellway FY Underlying Pretax Profit Rises – Quick Facts

Bellway plc (BWY.L) reported that its fiscal year total revenue rose by 13.3%, a record for the Group. Housing completions grew by 10.5%, ahead of the company’s target, to a record 11,198 homes.

Looking forward, Bellway noted that it entered the new financial year with a strong forward order book. However, given the backdrop of rising interest rates and wider economic uncertainty, the Board currently expects to deliver volume at a similar level to the prior year.

For the year ended 31 July 2022, underlying profit before tax increased to 650.4 million pounds from 530.8 million pounds, prior year. Underlying earnings per share was 420.8 pence compared to 350.9 pence.

Profit before tax declined to 304.2 million pounds from 479.0 million pounds, previous year. Earnings per share was 196.9 pence compared to 316.9 pence. Revenue increased to 3.54 billion pounds from 3.12 billion pounds, previous year.

The Board recommended a 15.2% increase in the final dividend to 95.0 pence per share. This brings the total proposed dividend to 140.0 pence per share, an increase of 19.1%.

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888 Holdings Q3 Revenue Falls

888 Holdings (888.L), an owner of popular gambling brands and websites, said in a trading update on Tuesday that it recorded a decline in revenue for the third-quarter, following enhanced UK online player safety measures and the closure of the Netherlands.

For the three-month period to September 30, the company’s total revenue stood at 449 million pounds, lesser than 484 million pounds, reported for the same period of 2021.

Looking ahead, the Board expects its fourth-quarter revenue to grow over the third quarter and be similar to the final quarter of 2021.

The Group also expects an improved adjusted EBITDA margin in the second-half to meet the current market expectations for full year adjusted EBITDA.

B.P. Marsh & Partners H1 Profit Climbs; Says Positive About Prospects For Rest Of Year

B.P. Marsh & Partners Plc (BPM.L), a specialist investor in early stage financial services businesses, reported Tuesday that its first-half consolidated profit before tax was 17.01 million pounds, up from 6.24 million pounds last year.

Earnings per share climbed to 37.6 pence from 16.2 pence a year ago.

Operating income was 18.92 million pounds, higher than prior year’s 7.97 million pounds.

Operating profit improved to 16.85 million pounds from 6.34 million pounds last year.

Looming ahead, the company said it remains positive about the prospects throughout the remainder of its current financial year to January 31, 2023.

European Economics Preview: Italy Final Inflation Data Due

Final consumer price data from Italy is due on Monday, headlining a light day for the European economic news.

At 3.00 am ET, the Czech Statistical Office is scheduled to issue producer price figures for September. Producer price inflation is expected to ease to 24.0 percent from 25.2 percent in August.

At 4.00 am ET, Italy’s Istat publishes final consumer and harmonized consumer price data. Consumer price inflation is seen at 8.9 percent in September, as initially estimated, from 8.4 percent in August.

At 6.00 am ET, foreign trade figures are due from Ireland.

Swiss Re Expects $0.5 Bln Loss In Q3

Swiss Reinsurance Company Ltd or Swiss Re (SSREY.PK), a Swiss reinsurance firm, said on Monday that it expects a loss for the third-quarter, following the impact of Hurricane Ian in western Florida last month.

For the third-quarter, the Group expects a net loss of around $0.5 billion reflecting preliminary claims from Hurricane Ian of around $1.3 billion.

Looking ahead, for the fiscal 2022, the Group said its L&H Re and Corporate Solutions division are on track to achieve their respective targets of around $300 million net income and a reported combined ratio of less than 95 percent.

For the full-year, P&C Re’s reported and normalized combined ratios were impacted in the third quarter by an increase in small- to mid-sized claims, partly driven by economic inflation. As a result, the segment is unlikely to reach its normalized combined ratio target of less than 94 percent.

Nestle Recalls Toll House Chocolate Chip Cookie Dough

Nestle USA Inc., affiliated to Swiss food and beverage giant Nestle SA, is recalling TOLL HOUSE STUFFED Chocolate Chip Cookie Dough with Fudge Filling products citing the potential presence of white plastic pieces, the U.S. Food and Drug Administration said.

The ready-to-bake refrigerated Cookie Dough was produced between June and September 2022. These products were distributed in the continental United States and Puerto Rico.

The recall excludes any other Nestle Toll House products, including other NESTLÉ TOLL HOUSE STUFFED Cookie Dough and NESTLÉ TOLL HOUSE refrigerated cookie dough products.

The company has not received any reports of illnesses or injuries related to the recalled product to date.

Consumers who may have purchased the recalled product are asked to return it to the retailer where it was purchased for a replacement or refund.

Last September, Nestle USA had called back around 27,872 pounds of frozen DiGiorno Crispy Pan Crust pepperoni pizza citing misbranding and undeclared soy protein, a known allergen.

In similar recalls, Enjoy Life Natural Brands LLC in July called back select baked snacks products due to the potential presence of foreign material, such as hard plastic pieces.

Pre-market Movers: VOXR, MDIA, DFLI, MPTI, NMRD…

The following are some of the stocks making big moves in Tuesday’s pre-market trading (as of 07.00 A.M. ET).

In the Green

Vox Royalty Corp. Common Stock (VOXR) is up over 53% at $4.15
MediaCo Holding Inc. (MDIA) is up over 33% at $2.18
Chardan NexTech Acquisition 2 Corp. (DFLI) is up over 17% at $15.43
1847 Holdings LLC (EFSH) is up over 5% at $1.90

In the Red

M-tron Industries, Inc. (MPTI) is down over 15% at $13.15
Nemaura Medical Inc. (NMRD) is down over 15% at $2.63
Argo Blockchain plc (ARBK) is down over 13% at $2.12
Silo Pharma, Inc. (SILO) is down over 12% at $5.03
ExlService Holdings, Inc. (EXLS) is down over 7% at $143.72
Leggett & Platt, Incorporated (LEG) is down over 7% at $31.99
Indonesia Energy Corporation Limited (INDO) is down over 5% at $6.73