Germany Retail Sales Fall Sharply In December

National Grid announces chance to save up to £20 on energy bills

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National Grid has confirmed that it will run a Demand Flexibility Service (DFS) live event this evening, January 31, 2023, between 5:30 and 6:30pm. Through this scheme, families eligible to take part are encouraged to reduce their energy usage to relieve the pressure on suppliers. In return, participating households to take part in the National Grid initiative could get up to £20 slashed from their energy bills.

READ MORE: ‘World beating’ Isa savings option yields 6.6% with more to come

Singulus Sees Positive EBIT In FY22; Sales To Increase Around 30%

Singulus Technologies (SGTSF.PK,SGTSY.PK) reported preliminary 2022 EBIT of between 4 and 6 million euros. Revenues are projected in a range of 86 to 91 million euros, representing an increase of around 30% compared with the previous year. Order intake was 57 million euros compared to 111.5 million euros, last year.

Assuming the company receives the outstanding test certificates as expected, the company plans for the year 2023 further increasing sales and improved earnings ratios compared with the past business year 2022.

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Ricardo Plc: Overall Trading In Line With Board's Expectations; FY Guidance Unchanged

Ricardo plc (RCDO.L) stated that it has delivered a good performance in the six months to 31 December 2022. Overall trading is in line with the Board’s expectations, with good revenue and underlying profit growth, the Group noted. The guidance for the full year remains unchanged.

For the six months to 31 December 2022, order intake was at 290 million pounds, up 42% from last year. Revenue for the period was above 210 million pounds, up 17%, or a growth of 12% on a constant-currency basis. At 31 December 2022, net debt was 31 million pounds.

Graham Ritchie, CEO, said: “We continue to see strong order-intake growth for the Group and, as a result, our Group guidance remains unchanged for the full year.”

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Advantest 9-month Profit Rises, Net Sales Up 37.6%; Affirms Guidance

Advantest Corp. (ATE) reported net income of 99.8 billion yen for the nine months ended December 31, 2022, up 63.9% from last year. Earnings per share was 529.01 yen compared to 310.03 yen. The company noted that, although procurement costs rose, sales mix tilted towards more-profitable products, and the weaker yen also had the effect of increasing sales and profits. Net sales were 412.8 billion yen, an increase of 37.6% from previous year.

Advantest has not changed its full-year consolidated earnings forecast for fiscal 2022. The company expects net sales of 550.0 billion yen, and net income of 130.0 billion yen.

Also, Advantest announced it entered into an agreement to acquire Taiwan-based Shin Puu Technology Co., Ltd., a supplier of printed circuit boards that manufactures and assembles PCBs, key components used in electronics.

Advantest CEO Yoshiaki Yoshida said: “The acquisition of Shin Puu is part of our medium- to long-term growth strategy to expand our test and measurement solutions across the continuously evolving semiconductor value chain.”

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Pets At Home Group Q3 LFL Revenue Up 8.3%; Raises FY23 Pretax Profit Guidance

Pets at Home Group Plc (PETS.L) issued a trading statement for the 12 week period to 5 January 2023. Group revenue was up 8.8% to 347.5 million pounds, with growth remaining ahead of the medium term ambition. Group like-for-like revenue was up 8.3%. Gross margin performance was in line with management expectations.

For the third quarter, consumer revenue was up 9% from prior year. Consumer revenues were up over 30% from pre-pandemic.

Looking forward, the Group now expects fiscal 2023 underlying profit before tax towards the upper end of the current consensus range of 126-136 million pounds, ahead of previous guidance of approximately 131 million pounds.

Germany Retail Sales Fall Sharply In December

Germany’s retail sales declined sharply in December suggesting weak consumer spending even during the Christmas season, data published by Destatis revealed Tuesday.

Retail sales plunged 6.4 percent in December from the last year, much faster than economists’ forecast of -1.8 percent.

On a monthly basis, retail turnover decreased 5.3 percent, in contrast to the 1.9 percent increase in November and the 0.2 percent rise economists’ had forecast.

Online and mail order sales also recorded a real drop of 3.8 percent compared to the previous month and 7.2 percent compared to the same month last year.

In the year 2022, retail sales decreased by real 0.6 percent from the previous year.

While real sales increased 3.1 percent annually in the first half of year, they fell significantly by 4.1 percent in the second half of the year. The annual decline was driven by higher inflation. Moreover, retail trade achieved record sales in 2021.

In 2022, food sales posted its record fall of 4.6 percent. On the other hand, non-food sales grew 2.0 percent, which was the highest turnover since the series began in 1994.

Sales in textiles, clothing and footwear registered the biggest annual increase of all the retail sectors, with real rise of 27.0 percent.

The largest euro area economy contracted 0.2 percent in the fourth quarter damping the possibility of the euro area skirting a technical recession. Private consumption, which has been supporting the economy in the first three quarters, was lower in the fourth quarter.