IntegraFin FY22 Earnings Fall, But Revenue Rises; Lifts Dividend

Subaru Recalls Over 271K SUVs Due To Fire Hazard

Subaru has recalled over 271,000 SUVs because some of them could catch fire.

The company has advised owners of 271,694 units of 2019 to 2022 model year Subaru Ascent SUVs to park them outside, away from garages or other structures, and not to leave the vehicles unattended with the engine running.

According to the company, the ground bolt that secures the ground terminal of the Positive Temperature Coefficient (PTC) heater may have been improperly fastened, which could result in melting of the ground terminal and surrounding components.

The PTC heater is part of a back-up heating system that operates until the engine is warmed up enough to heat the passenger cabin.

If an owner notices or smells smoke coming from the dash or driver’s footwell area, the company has advised that they should immediately stop operating the vehicle and turn the ignition switch to the “Off” position.

Dealers will replace the PTC heater ground bolts and if necessary, replace the ground wire and the connector holder, free of charge.

Owner notification letters are expected to be mailed February 6, 2023

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ABM Industries Inc Q4 Profit Increases, beats estimates

ABM Industries Inc (ABM) announced a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company’s earnings came in at $48.9 million, or $0.73 per share. This compares with $34.3 million, or $0.50 per share, in last year’s fourth quarter.

Excluding items, ABM Industries Inc reported adjusted earnings of $59.4 million or $0.89 per share for the period.

Analysts on average had expected the company to earn $0.88 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 18.2% to $2.01 billion from $1.70 billion last year.

ABM Industries Inc earnings at a glance (GAAP) :

-Earnings (Q4): $48.9 Mln. vs. $34.3 Mln. last year.
-EPS (Q4): $0.73 vs. $0.50 last year.
-Analyst Estimate: $0.88
-Revenue (Q4): $2.01 Bln vs. $1.70 Bln last year.

Man shot Nov. 25 near on North Uinta Street in Denver has died, police said.

A man shot near East Colfax Avenue in Denver has died and police are looking for a suspect in the incident.

The Nov. 25 shooting happened in the 1500 block of North Uinta Street, the Denver Police Department said on Twitter.

On Tuesday, police announced on Twitter that the victim has died. His identity will be released by the Denver Office of the Medical Examiner. Anyone with information on the shooting, or on a suspect, is asked to call Metro Denver Crime Stoppers at 720-913-7867 (STOP).

Specific Lots Of Detect Covid-19 Test Recalled

Detect, Inc. has recalled specific lots of the Detect Covid-19 Test citing possibility to give false negative results, the U.S. Food and Drug Administration said. The reliability of positive test results is not affected.

The molecular, over-the-counter test is used to identify SARS-CoV-2, the virus that causes Covid-19, in self-collected nasal swabs.

The recall affects a total of 11,102 tests shipped to customers from July 26, 2022 through August 26, 2022. The test was granted Emergency Use Authorization or EUA from the FDA on October 28, 2021.

The affected tests include 7,382 units with lot number HB264, 1,800 units with lot number HB263, and 1,920 units with lot number HB264. The Use By Date of all recalled products is 1/1/2023.

There is an increased chance that the tests from these lot numbers may give false negative results. The issue was identified after a thorough investigation by the company.

However, Detect has not received any reports of false negative results related to the affected lots to date.

The company noted that test users who attempt to use recalled tests will be notified in the Detect App that the test has been recalled and may not be used.

Meanwhile, Detect Hubs are not affected by the recall and do not need to be discarded.

Detect will issue a refund for the affected tests.

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Inditex 9-month Net Income Rises; Sales Up 20% In Constant Currency

Inditex (IDEXF.PK) reported that its nine-month net income increased 24% to 3.1 billion euros. EBITDA increased 20% to 6.5 billion euros. The gross margin reached 58.7%, for the period.

For the nine month period, sales were 23.1 billion euros, up 19% from last year. Sales in constant currency grew 20%.

Based on current information, Inditex expects a stable gross margin, +/-50 bps, for fiscal 2022. At current exchange rates, Inditex expects a neutral currency impact on sales in fiscal 2022.

The Group expects online sales to exceed 30% of total sales by 2024.

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IntegraFin FY22 Earnings Fall, But Revenue Rises; Lifts Dividend

IntegraFin Holdings Plc (IHP.L), a British investment platform, on Wednesday reported a decline in earnings for the fiscal 2022, amidst a rise expenses. However, the company reported an increase in revenue and also raised its annual dividend.

For the 12-month period to September 30, the UK-based firm recorded a pre-tax income of 54.3 million pounds, lesser than 63.6 million pounds a year ago. However, underlying profit before tax rose to 65.8 million pounds from last year’s 65.2 million pounds.

Post-tax earnings were at 44 million pounds or 13.3 pence per share, compared with 51.1 million pounds or 15.4 pence per share, reported for the fiscal 2021. Underlying EPS moved up to 16.3 pence from 16 pence per share of previous fiscal.

Operating income stood at 53.6 million pounds, versus 63.2 million pounds a year ago.

Cost of sales for the year was at 2.1 million pounds as against 1.5 million pounds of 2021. Administrative expenses also rose to 77.7 million pounds, versus 58.8 million pounds a year ago.

IntegraFin generated revenue of 133.6 million pounds, higher than 123.7 million pounds a year ago.

The company proposes a final dividend of 7 pence per share, thereby increasing the dividend for the year to 10.2 pence, from last year’s 10 pence per share.

Alex Scott, IHP Group CEOS, said: “Looking ahead, I believe that the outlook remains positive for the Group, with demand for independent financial advice expected to remain strong.”