Additional European Equity News

AB Foods (ABF LN) - Trading update: Co. sees H1 revenue +20% Y/Y. Adjusted operating profit at the half year is expected to be broadly in line with the same period last year. LFL sales growth in the second half will be lower than that achieved in the first half but will be better than Co's previous expectation. "For the half year, we expect both aggregate sales and aggregate adjusted operating profit to be well ahead of the same period last year, albeit at a lower margin. Due to better trading, we now expect adjusted operating profit at Ingredients to be significantly ahead of the same period last year. Adjusted operating profit at Grocery is expected to be slightly lower than last year with inflation in input costs continuing to run ahead of pricing and cost mitigation activity." Primark total sales +19% Y/Y. On groceries: "Further pricing is under way but we continue to expect some erosion of adjusted operating profit margin at both the half year and the full year." (AB Foods)

Bayer (BAYN GY) – Nubeqa approved for additional indication in Japan. (Newswires)

Bunzl (BNZL LN) - FY22 (GBP): Revenue 12bln (prev. 10.3bln Y/Y). Adj. operating profit 885.9mln (prev. 752.8mln). Adj. EPS 1.843 (prev. 1.625). (Newswires)

Capgemini (CAP FP) – Co. and Schneider Electric (SU FP) are to collaborate to accelerate 5G based industrial automation with Qualcomm. (Newswires)

Commerzbank (CBK GY) - Co. will re-join the DAX 40 on February 27th, following the delisting of Linde (LIN GY). (Newswires)

Dechra Pharmaceuticals (DPH LN) - H1 2022 (GBP): Revenue 377.4lmn (prev. 332.4mln Y/Y). EPS 0.554 (prev. 0.640). Operating margin 23.9% (prev. 28.2%). (Newswires)

Evraz (EVR LN) – Co. has not been able to engage an auditor in respects of its most recent FY given sanctions, as such it is probable Co. will be unable to prepare and publish its annual report and audited statements as required. (Newswires)

Senior (SNR LN) - FY22 (GBP): Revenue 848mln (exp. 815mln), Operating Profit 33mln (exp. 30mln), PBT 22mln (exp. 19mln). (Newswires)

Eiffage (FGR FP) reiterated with Overweight at JPMorgan Chase

Eleckta (EKTAB SS) reiterated with Underweight at JPMorgan Chase

27 Feb 2023 - 07:16- Research Sheet- Source: Newsquawk