Beazley Share News (BEZ)

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.----------FTSE 100 - WINNERS----------Compass, up 4.6%. The food services firm has lifted its full-year growth expectations after reporting an "excellent" start to the year. Compass said revenue in the three months to the end of December 2018 grew by 6.9% on the year, driven by strong levels of new business wins and a positive sporting events calendar. Looking ahead, Compass now expects annual growth to be slightly above the middle of its target growth range of 4% to 6%, with modest margin progression. At the end of November, the company expected its growth to be in the middle of its 4% to 6% range. ----------Diageo, up 1.9%. The drinks firm has agreed with Citigroup to execute the second tranche of its share buyback programme. Diageo's shareholders last week approved an increase to the share buyback programme taking place during the financial year to the end of June. This programme will now return up to GBP3.0 billion to shareholders. The first tranche of 47.9 million shares, worth GBP1.3 billion, was completed last week. Diageo will now commence the second tranche totalling GBP1.7 billion.----------Smith & Nephew, up 1.7%. The medical devices firm posted a reduction in annual profit due to increased expenses from its restructuring effort. Pretax profit for 2018 was USD781 million, 11% less than USD879 million in profit in 2017. The company undertook its Accelerating Performance & Execution restructuring programme, beginning at the end of 2017, which incurred USD120 million of costs in 2018. This compares to around USD60 million of benefit from the effort realised in the course of the year. Revenue for the year was USD4.90 billion, up from USD4.77 billion the year before. This matches the company-compiled consensus of USD4.91 billion. Underlying revenue growth was 2% in 2018. Smith & Nephew's guidance was for underlying revenue growth in the lower half of the 2% to 3% range. Consensus was for underlying revenue growth of 1.9%. Smith & Nephew declared a final dividend of 22.0 cents per share, bringing the total for 2018 to 36.00 cents, up 2.9% from 35.00 cents per share for 2017.----------FTSE 100 - LOSERS----------TUI, down 15%. The travel company said annual earnings for its current financial year will be "broadly stable" on last year due to "extraordinary" hot weather and the weakness of the pound. For the year ending September 30, the travel operator expects adjusted earnings before interest, taxes, depreciation and amortisation to be broadly stable on the record performance in the prior year of EUR1.17 billion. "Consequently, we are not reiterating our guidance of at least 10% [compound annual growth rate] in underlying Ebitda at constant currency for the three years to FY20," the company said. TUI said the out-of-the-ordinary hot weather in the summer resulted in later bookings, weakening margins. It also cited the "continued weakness of the pound sterling, making it difficult to improve margins on holidays sold to UK customers".----------Ocado, down 7.8%. The firm a fire that broke out at its warehouse in Andover led to the evacuation of the area on Wednesday evening, due to the presence of pressurised refrigerants on site. Since then, the refrigerants have been removed from the site and the "major incident status" and evacuation have been lifted. The online grocer now expects the fire brigade to remain on site for "at least the next few days", it added. The company reiterated the fire caused "substantial damage" to both the Andover building and its contents. ----------FTSE 250 - WINNERS----------Thomas Cook, up 11%. The travel operator has announced a strategic review of its airline business, as it reported growth in first quarter revenue. The company said it is clear it needs "greater financial flexibility", and has therefore decided to review its airline business aiming to enhance value for shareholders and intensify its strategic focus. It currently operates 103 aircraft. This will allow the firm to invest in strengthening its hotel portfolio, further digitising its sales channels and driving greater efficiencies across the business, Thomas Cook added. Meanwhile, like-for-like revenue for the first quarter to the end of December was up 1% to GBP1.66 billion as the year started in line with expectations, the holiday operator said. Gross margins however, were lower, reflecting highly competitive market conditions in the UK at the end of the summer season, and weaker demand for winter holidays in the Nordics. ----------Beazley, up 5.3%. The insurer's profit dropped significantly in 2018, but gross premiums achieved double-digit growth on a strong performance in the US. Beazley's pretax profit for 2018 fell 55% to USD76.4 million from USD168.0 million a year earlier but total revenue for the company rose 5.7% to USD2.16 billion from USD2.04 billion. The company said profitability was hit by underwriting losses in its property insurance and reinsurance business, which fed into a combined ratio for the group of 98% from 99% in 2017. Beazley's combined ratio was hit by "severe" natural disaster claims once again, including two US hurricanes, typhoons in Japan, and California wildfires. Beazley is to pay out a second interim dividend of 7.8 pence per share, up from 2017's 7.4p. This takes the total for 2018 to 11.7p, compared to 11.1p paid a year before. The company delivered strong premium growth in 2018 against a backdrop of often challenging market conditions, with premiums rising 12% to USD2.62 billion from USD2.34 billion the year prior.----------On the Beach, 2.3% higher. The company performed well in the first months of its financial year, with a surge in revenue in the core UK market. For the first four months to January 31, the beach holiday retailer said it is pleased with the continuation of "several long term trends" leading to core UK revenue after all marketing costs up 20%.----------FTSE 250 - LOSERS----------Petrofac, down 24%. The oil and gas services firm said an ex-employee has admitted bribery in the UK, with some Petrofac individuals and entities alleged to have acted with the individual. Petrofac did stress, however, none of its current board members are alleged to have been involved. ----------Cranswick, down 16%. The food producer said third quarter revenue was hurt by lower sales from its pork-related categories. Revenue for the Cranswick's third quarter ended December 31 was 2% lower than the year-ago period as "strong growth in poultry and continental products was offset by lower sales from other, pork related, categories". Cranswick noted the UK pig price had eased during the quarter, ending 7% lower than at the same stage last year and said this had been "reflected in selling prices".----------Bellway, down 1.7%. Peel Hunt has cut the property developer to an Add rating from Buy----------OTHER MAIN MARKET AND AIM - WINNERS----------Tax Systems, up 7.3%. The compliance technology firm confirmed it is in "advanced" talks with Bowmark Capital over a potential takeover offer. The cash bid, which has not yet been confirmed, would be at a price of 110 pence per Tax Systems share. The 110p offer price would value Tax Systems at approximately GBP88.8 million.----------Prospex Oil & Gas, up 11%. The firm reported a "milestone" maiden reserve estimate for the Selva gas field, onshore Italy, in the Po valley region. The report gives gross proven and probable reserves of 13.3 billion cubic feet of gas. Prospex has a 17% stake in Selva, meaning its own interest is worth 2.26 billion cubic feet.----------OTHER MAIN MARKET AND AIM - LOSERS----------DP Poland, down 44%. The pizza franchisee said Chief Executive Peter Shaw will be leaving, while it is also to raise some cash. Shaw co-founded DP Poland and has led the business since October 2010, shortly after it acquired the master franchise agreement for Domino's Pizza in Poland. Pending the appointment of a replacement, Nick Donaldson, non-executive chair, and Rob Morrish, non-executive director, will take a more active role in the running of the business. DP Poland is to raise GBP5.3 million via a share placing at 6.00 pence. This placing price is a 58% discount to the closing mid-market price of 14.35p on Wednesday----------Accesso Technology, down 38%. The firm intends to review its investment priorities as expects to report its 2018 results in line with market estimates. In addition, the AIM-listed company said Executive Chair Tom Burnet will move to a non-executive director role from the beginning of March. Accesso has appointed Bill Russell as new non-executive chair. ----------