3 Companies Rising on Good News for Tuesday 7th March 2023
Episode 1236, Mar 07, 2023, 09:50 AM
3 Companies Rising on Good News for Tuesday 7th March 2023
1. Just Group #JUST - Results for the year ended 31 December 2022
- Underlying operating profits up 19% to £249m (FY 21: £210m), driven by higher in-force operating profit and increased new business profits.
- Retirement Income sales up 17% to £3.1bn (FY 21: £2.7bn), driven by Defined Benefit De-risking ("DB") sales, which grew by 33%.
- Strong momentum in Q1 2023, including our largest DB transaction to date (£513m). A very favourable DB market backdrop and a £6bn pipeline means we expect substantial DB sales growth in 2023. Our retail business has also had a strong start to the year.
2. Premier Foods #PFD - Trading Statement
The Group has continued to trade strongly in recent weeks, bringing the momentum it delivered in quarter 3 into the final quarter of the year. Accordingly, it now expects revenue growth in Q4 to be at least 10% ahead of the prior year.
Consequently, Trading profit and adjusted profit before tax for this year are forecast to be ahead of the Board's initial expectations and are now expected to be around £155m and £135m respectively, which equates to growth of approximately 10% compared to prior year.
3. CyanConnode Holdings #CYAN - Collaboration with Silicon Laboratories
CyanConnode Holdings announce its collaboration with Silicon Laboratories, Inc (Silabs, NASDAQ:SLAB), a prominent supplier of System-On-Chips (SOCs).
CyanConnode will integrate SiLabs' FG25 Sub-GHz Wireless SoC into its Omnimesh product range.
1. Just Group #JUST - Results for the year ended 31 December 2022
- Underlying operating profits up 19% to £249m (FY 21: £210m), driven by higher in-force operating profit and increased new business profits.
- Retirement Income sales up 17% to £3.1bn (FY 21: £2.7bn), driven by Defined Benefit De-risking ("DB") sales, which grew by 33%.
- Strong momentum in Q1 2023, including our largest DB transaction to date (£513m). A very favourable DB market backdrop and a £6bn pipeline means we expect substantial DB sales growth in 2023. Our retail business has also had a strong start to the year.
2. Premier Foods #PFD - Trading Statement
The Group has continued to trade strongly in recent weeks, bringing the momentum it delivered in quarter 3 into the final quarter of the year. Accordingly, it now expects revenue growth in Q4 to be at least 10% ahead of the prior year.
Consequently, Trading profit and adjusted profit before tax for this year are forecast to be ahead of the Board's initial expectations and are now expected to be around £155m and £135m respectively, which equates to growth of approximately 10% compared to prior year.
3. CyanConnode Holdings #CYAN - Collaboration with Silicon Laboratories
CyanConnode Holdings announce its collaboration with Silicon Laboratories, Inc (Silabs, NASDAQ:SLAB), a prominent supplier of System-On-Chips (SOCs).
CyanConnode will integrate SiLabs' FG25 Sub-GHz Wireless SoC into its Omnimesh product range.