BoE rate rise is yesterday’s news already
The boE rate rise was so well baked in, it hardly made front-page news.
Apple and Amazon had earnings reports overnight. Apple was OK, and Amazon significantly beat expectations.
China talks about more economic stimulation measures.
US long bond yields are rising.
Oil prices remain strong.
UK Company News
Capita said its H1 revenue increased by 6%, adjusted profit before tax increased by £8.4m to £33.1m, while its reported loss before tax was £67.9m. Its RCF of £280m has been extended to 31 December 2026, and expectations remain unchanged.
Morgan Advanced delivered revenue growth of 2.6% and continues to see inflation across the business. However, it has more than offset this through pricing measures. Its outlook for full-year revenue growth remains unchanged at 2-4%, with adjusted operating profit recovering in H2.
Telecom Plus expects to deliver comfortable double-digit annual percentage customer growth for the current year, leading to a broadly corresponding increase in adjusted pre-tax profits.
XP Factory, the experiential leisure businesses operating the Escape Hunt and Boom Battle Bar brands, grew revenue by over 130% to £18.8m with solid growth in both Boom Battle Bar and Escape Hunt. Trading in July was significantly ahead of May and June; early indications are positive for August. Looking further out, the Company is experiencing record levels of corporate and group bookings for H2 2023, which, together with July’s performance, helps underpin the board’s confidence in FY performance in line with market expectations.
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