Premarket London: Taylor Wimpey Sees Stable Market; Elementis Profit Warning

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 Tuesday 14 January. Please refresh for updates for UK market news from the LSE RNS on individual UK shares from FTSE 100, FTSE 250 and FTSE All-Share.

House builder Taylor Wimpey (LON:TW) said 2019 results were in line with expectations as the U.K. housing market remained stable despite political uncertainties throughout the year.

Operating profits for the home builder were 19.6%, down from 21.6% in 2018.

The house builders said home completion rates increased 5% to 15,719 with an average selling price of 269,000 pounds, up from 264,000 in 2018.

Chemicals firm Elementis (LON:ELM) issued a profit warning for 2019 following a subdued fourth quarter.

The company warned it expected operating profits for the year to be in the range of $122 million to $124 million as a result of a challenging market backdrop for its chromium and energy business.

"Our overall performance in 2019 has been negatively impacted by a challenging market backdrop as the more cyclically exposed parts of the portfolio like Chromium and Energy have deteriorated through H2” said CEO Paul Waterman.

Online betting site 888 (LON:888) said its Chief Financial Officer Aviad Kobrine is to leave the firm. Kobrine, who has been with the company since 2004 will remain in place until a replacement is found.

Recruiters Pagegroup (LON:PAGE) said profits in the fourth quarter of 2019 were down 0.4% to 205.6 million pounds, despite making cuts to staffing numbers.

The group said it expected operating profit for the year to be in line with previous guidance of between 140 and 150 million pounds. It said gross profit was up 5% to 856 million pounds.

The recruitment consultants saw dwindling growth in the U.K. in China but experienced growth in the wider European region, with 19 countries delivering record profits. It said uncertainty in markets affected performance.

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