Investing.com - Here is a summary from the most important regulatory news releases from the London Stock Exchange ahead of the UK market open on Thursday 16 January. Please refresh for updates for UK market news from the LSE’s RNS on individual UK shares from FTSE 100, FTSE 250 and FTSE All-Share.
- Primark owners Associated British Foods (LON:ABF) said revenue for the 16 weeks to Jan. 4 was up 4% on the previous year and its outlook remained unchanged.
- Thanks to three new stores in Europe and an expansion in existing stores, sales for the final quarter were up 4.5% for the group’s Primark business. Primark intends to open its first stores in several eastarn European countries in 2020.
- Revenues from ABF’s sugar business increased by 7% in 2019 due to an increase in sugar prices and better quality beet crop.
- Publishers Pearson (LON:PSON) said growth for 2019 was flat as a result of a drop in its U.S. business. It also said CFO Coram Williams (NYSE:WMB) is to leave the company for a comparable role in Europe. Williams will be succeeded by Deputy Chief Financial Officer Sally Johnson, who has been with the company since 2000.
- Revenue in U.S. educational courseware, which makes up almost a quarter of the business, fell by almost 12%. The company saw modest growth in digital revenue but a continued decline in print.
- A 350 million pounds share buyback will begin on Thursday as a result of revenue from selling its 675 million pound stake in Penguin Random House. Pearson also made annual savings of 335 million pounds in 2019.
- Growth, excluding U.S. educational coursework, was up 4%.
- Premier Inn owner Whitbread (LON:WTB) said sales growth increased 1% in the third quarter, thanks to growth in Germany and its wider brand, which includes Beefeater and Brewers Fayre.
- The group expects in-line results for the current fiscal year.
- The company cited Brexit uncertainty as reason for a drop in U.K. like-for-like sales, which fell by 1.3%. It has a cautious outlook for hotel demand in 2020.
The company has not yet begun a search for his successor.