DS Smith, up 3.4%, announced that it has been selected by law firm, Dentons to advice on global real estate and construction legal services.
Darktrace, up 9.8%, announced that it has appointed Ernst & Young LLP to perform an additional, independent third-party review of its financial processes and controls. Additionally, the company announced that it would release its results for the six months ended 31 December 2022 on 8 March 2023.
LPA Group, up 9.2%, announced a record orderbook of £34 million, with the receipt of a £5.3m order for the supply of electro-mechanical products to the UK rail industry. Sales under this contract win are expected to commence towards the end of the Group's current financial year, with the Group remaining on track to deliver FY23 results in line with current Board expectations.
Tristel, up 6.8%, announced in its interim results for the six months to 31 December 2022, that revenues rose 16.0% to £17.5m from £15.1m recorded in the same period a year ago. Profit before tax stood at £2.4m compared to a loss of £1.2m. The company has maintained its interim dividend at 2.62p.
Bango, up 5.6%, announced that it has inked a new Digital Vending Machine contract with Japanese employee benefits platform, Benefit One.
Checkit, down 8.5%, announced in its unaudited trading update for the year ended 31 January 2023, that ARR rose by 28.0% to £11.5m from £9.0m. Net cash stood as at 31 January 2023 stood at £15.6m (31 July 2022: £19.5m). Additionally, the company expects to publish its preliminary results by the end of April 2023.
Quixant, down 4.7%, in its trading update for the financial year ended 31 December 2022, announced that the board expects to report full year revenues of $119.9m, up 38.0% year on year. Further, the Group expects adjusted profit before tax to be beyond market estimates. Meanwhile, the company expects to publish its annual results for 2022 on 21 March 2023.
IQGeo Group, unchanged at 213.0p, announced that it has inked a £1.9m deal with NESIC to offer Japanese public agencies with the utility disaster assessment solution.
GetBusy, unchanged at 73.0p announced that its Chief Executive Officer, Daniel Rabie, and Chief Financial Officer, Paul Haworth, would provide a live presentation related to the results for the year ended 31 December 2022 on 3 March 2023 at 11:00am GMT.
UK markets closed mostly higher last week, following robust corporate earnings reports and as UK's inflation eased. On the macro front, UK’s retail sales unexpectedly rebounded in January. On the contrary, UK’s consumer price inflation eased for a third straight month in January, as fuel prices dropped, while the nation’s average earnings including bonus climbed less than anticipated in December. Additionally, the DCLG house price index rose less than estimated in December. Meanwhile, UK’s ILO unemployment rate remained unchanged as expected in December. The FTSE 100 index advanced 1.5% to settle at 8,004.4, while the FTSE techMARK 100 index gained 1.5% to end at 6,658.9. Meanwhile, the FTSE AIM 100 index fell 1.1% to close at 4,143.8.
US markets ended mixed in the previous week, as hotter-than-expected inflation data stoked expectations that the Federal Reserve could raise its policy rate well above 5%. On the data front, the US consumer price index climbed more than anticipated in January, amid as soaring shelter, gas and fuel prices, while the nation’s PPI advanced more than expected in the same month. Additionally, the US retail sales increased by the most in nearly two years in January, driven by rise in purchases of motor vehicles and other goods, while the US initial jobless claims unexpectedly declined in the week ended 10 February 2023. Meanwhile, the US building permits rose less than expected in January, while the nation’s housing starts declined to a 2-year low level in January. The DJIA index fell 0.1% to end at 33,826.7, while the NASDAQ index gained 0.6% to close at 11,787.3.
