Aston Martin has posted an 82% increase in wholesales. Revenues at the group increased to £1.1bn thanks to strong customer demand. “The operating environment remained challenging throughout 2021,” said Tobias Moers, Aston Martin’s CEO. “Despite this, we grew our core business to plan, with a demand-led delivery of our volume targets and enhanced core profitability. […]

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Ted Baker sales plunged 42% in the three months to January 29 compared to the same period in 2019. Sales did recover compared to 2020, where they increased 20%. Despite the impact of the Omicron surge, the group is still making plans to expand and has plans for three new stores a year for the […]

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New data has found that the number of women in FTSE 100 boardroom roles has now reached 39.1%. This number is up from the 12.5% it was 10 years ago. The lack of diversity is still clear, however, explains the Fawcett Society due to the lack of positions held by “women of colour, disabled women […]

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Hargreaves Lansdown has reported a fall in profits for the first half of its financial year, down from £188.4m to  £151.2m. Revenues at the group were also down from £299.5m a year ago to £291.9m. However, bosses have confirmed that the Bristol-based firm is ready for growth and the number of active clients increased by […]

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Natwest has posted strong growth and has returned to profitability and posted £2.9bn – compared to 2020 losses of £753m. Lending grew by £7.8bn in 2021 thanks to strong growth in mortgages. Chief executive Alison Rose said: “NatWest Group delivered a strong performance in 2021 as we returned to profitability, made progress against our strategy and […]

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Segro has posted strong profits for the year ending 31 December 2021. The group posted pre-tax profits of £356m, which is a 20% jump from the year previous. The group raised its dividend 11% to 16.9 pence. David Sleath, chief executive of the group commented: “2021 was a highly successful year for SEGRO as reflected […]

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The Hermès share price fell on Friday morning after sales growth was below expectations. Shares were down nearly 5% on Friday and are trading at their lowest in eight months. Sales growth for the final quarter of 2021 was 11%. Axel Dumas, is the executive chairman of Hermès. He commented: “I thank above all the […]

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Heineken boss has warned that the price of its beer is likely to increase due to record levels of inflation. The growing cost of ingredients, energy and transport is likely to cost a total of 15% more – which Heineken may add to the price of the beer. CEO Dolf van den Brink told the […]

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Sales at Nestlé have hit £69.46bn – an increase of 3.3% thanks to a drive in coffee sales. In the full year of 2021, the group also reported vegetarian and plant-based food sales to double. “Our organic growth was strong, with broad-based market share gains, following disciplined execution, rapid innovation and increased digitalization,” said CEO, […]

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Reckitt Benckiser saw revenues rise to £13.2bn in 2021 as the Dettol-maker found a big demand for products over the pandemic. Revenues rose 3.5% and good strength in the hygiene division of products. Chief executive Laxman Narasimhan said he was confident in sustained growth. He said: “Over the last two years, we’ve significantly strengthened our business. […]

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The average cost of a house in the UK has reached £274,712 according to the Office for National Statistics. House prices continue to grow as the cost of a home increased by 0.8% between November and December and 10.8% over the whole year. Experts are now suggesting the rate of growth is likely to slow […]

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Fuel prices have hit record highs in the UK. According to the AA, diesel hit 151.57p a litre last week, which is a new record while petrol hit 148.02p a litre. RAC’s fuel spokesman Simon Williams said: “With the oil price teetering on the brink of $100 a barrel and retailers keen to pass on […]

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Nyetimer has reported record sales for the past year. The sparkling wine giant posted a 55% growth in sales. The group is on a positive trajectory and hopes to produce 2m bottles by 2030. Nyetimber growth in Europe surged by 89%. “Demand for Nyetimber continues to grow not just in the UK but internationally as […]

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Glencore has posted an 84% jump in earnings thanks to a growth in global commodity prices. The group announced earnings of $21.3bn compared to 2020 levels. “In spite of the ongoing challenges of Covid-19, 2021 was an extraordinary year for Glencore, reflecting rising demand for our metals and energy products, record Adjusted EBITDA and the […]

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Wages are falling behind inflation, new figures have shown. However, last month did see employment figures jump. Between December and January, the number of Brits employed jumped by 108,000 to 29.5m. However, total pay growth rose to 4.3% whilst inflation soared to record levels of 5.4%. “The number of employees on payrolls rose again in […]

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BT has announced plans to pump £30m into Distributed, the tech freelancing startup that helps businesses transform digital systems. BT has taken a stake in the startup and technology executive at BT, Mark Murphy, will be on the board. It is a “huge milestone” for the company, said Callum Adamson the head of the group. […]

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The Redrow order book has reached £1.5bn and profits grew 16.6%. The group posted record revenues of £1.052bn for the 27 weeks to 2 January. Redrow’s interim dividend increased by 4p to 10p. Matthew Pratt, the group’s chief executive, said: “We have capitalised on strong demand, improved sales margins and continued to invest for growth.” […]

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Relx has posted soaring profits and revenues. Net profits jumped 17% to £1.69bn and revenues were up by 7% to £7.24bn. As a result, the board is suggesting a dividend payout of 49.8p per share. Chief executive Erik Engstrom commented: “RELX delivered strong underlying revenue and profit growth in 2021,” “We believe that this improved […]

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Following strong demand in the UK and US, Watches of Switzerland has posted strong profits and revenues in the year-to-date. Revenues hit £934.3m and there has been an impressive 38% growth in performance. The company has plans to expand in Europe and has bought six shops in Sweden, Denmark and the Republic of Ireland.  “I […]

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Bellway has completed a record number of homes in the first half of the year, which is leading to almost record revenues at the housebuilder. In the six months to January 31, the group completed 5,694 new homes. Revenues at the group is expected to grow from £1.715bn to £1.778bn. “Bellway has delivered a strong […]

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LadBible revenues were ahead of expectations for the year, hitting £54m. Thanks to the content marketing and direct display sales across Australia and the UK, the group saw a jump in revenues and growth. “LBG Media delivered an outstanding performance in 2021, both financially and operationally,” said Solly Solomou, the chief executive. “The business operates […]

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Mattioli Woods posted a 96% jump in pre-tax profits for the six months to 30 November 2021. The wealth management firm from £7.2m a year previously to  £14.1m thanks to a number of successful takeover deals. Chief executive Ian Mattioli MBE said: “In the first six months of this financial year saw the Group build momentum, […]

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Shaftesbury has announced strong trading in the four months ending 3 February – despite impact of Omicron. The group’s debt fell from £748.5m to £740.5m whilst the group made investments of £18.5m. Chief executive Brian Bickell said: “Robust occupier interest across all our uses and in each of our locations has continued throughout the period, […]

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Sales are falling for SSP, the owner of Upper Crust. In the last eight weeks, sales have fallen to 57% of pre-pandemic levels. In a previous trading update, sales were 66% of pre-pandemic levels. The group commented: “The spread of the Omicron variant around the world and the subsequent government restrictions have inevitably had an […]

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Carnival has said that two ships will be leaving its fleet as it continues to be affected by the pandemic. Carnival’s president Christine Duffy commented: “Our guests have remained passionate and supportive throughout the restart and 2022 gives us plenty of reasons for enthusiasm and excitement as we reach full operations in the US, prepare […]

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Cranswick has been hit by labour and supply chain, however, the group has benefitted from more in-home dining amid the pandemic. The pork sector is facing issues as the number of pigs is exceeding demand. The group said in a trading update: “Given the magnitude of this industry issue, we continue to lobby the government […]

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Omicron disruption has forced Virgin Wines to lower profit and revenue guidance for the year ending in June 2022. The group also experienced labour shortages in the run-up to Christmas, causing them to see a £800,000 fall in sales. “Like many businesses, we experienced several operational challenges in the Period due to well-publicised, external, macroeconomic […]

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Compass has said that its guidance remains unchanged for 2022. Revenue grew by 38.6% in the three months ending 31 December for the foodservice multinational group thanks to growth in all regions. Revenues are expected to increase by 20-25% this year while underlying operating margin is expected to be at 6-7%. The group said: “We […]

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For the three months ending 31 December, Google revenues jumped 32% to $75.3bn – these beat expectations of estimates of $71.652bn. Profits for the period hit $20.6bn. The group reported better than expected profits, causing shares to increase 7% in after-hours trading. Advertising revenues increased from $46.2bn to $61.2bn. The company generates more revenue from […]

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As restrictions ease, Wizz Air has seen demand rocket. Passengers in January soared 220% compared to January last year. The number of passengers allowed on the plane has also increased as restrictions ease, allowing load factor to increase from 61% to 79.6%. “There is a very clear correlation between the level of restrictions imposed on […]

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Last year, Amazon added 25,000 employees in the UK. With original plans to hire 10,000 across the year, the group hired an extra 15,000 amid the high demands for the online retailer amid the pandemic. Whilst many of these roles began on temporary contracts, many o the roles have become permanent. This year, the group […]

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As inflation is pushing up the price of groceries, the average shopping bills are set to rise by £180 this year. Kantar has found that annual grocery price inflation jumped by 3.8% in the last four weeks. “Like-for-like grocery price inflation, which assumes that shoppers buy exactly the same products this year as they did last […]

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The UK housing market has made the strongest start to the year since 2005. The average price of a UK property now costs £255,556, which is 11.2% higher than last year and 0.8% higher than last month. In January 2021, the average house price in the UK cost £216,000. “Housing demand has remained robust,” said […]

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AG Barr, the owner of Irn Bru, is increasing its prices as an attempt to deal with rising costs. The group, that also makes Rubicon drinks, said in a trading update that it is facing inflationary pressures and needs to lift its prices. “We have initiated several cost control actions to reduce the impact of […]

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Toyota sales jumped 10% in 2021, making it the world’s largest carmaker for the second consecutive year. The Japanese carmaker reported the figures today, where sales in 2021 reached 10.5 million. Next in line was Volkswagen, which sold 8.9 million cars. The group fared better than many rivals as Japan was less affected over the […]

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Apple beat analyst expectations and posted record sales over Christmas. Revenues jumped 11% compared to the same period last year to a record of $123.9bn. This is higher than the expectations of $118.7bn. “Despite the uncertainty of the world, there is one thing of which I am certain: Apple will continue to improve every day […]

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H&M has posted strong profits for September to November. The retail group surpassed expectations and posted profits of £478.6m. Compared to the same period in 2019, profits jumped 43%. The group said: “The strong result for the quarter is mainly a result of well-received collections with more full-price sales, lower mark-downs and good cost control.” […]

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Foxtons profits are at the upper end of expectations for the end of 2021. Full-year revenues were up 42% on the year previously and reached £133m. Adjusted operating profit for the year is expected to hit £7m. “Looking at the year ahead, the group expects a further improvement in adjusted operating profit… increasing rental levels […]

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Diageo sales jumped by 15% in the second half of 2021. The group, who owns brands including Smirnoff vodka and Tanqueray gin, saw profits jump by 22.5% as consumers are buying more alcohol as they stay at home. “The positive price/mix benefit was primarily driven by mix, reflecting the strong growth of premium plus brands, […]

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EasyJet was affected over the Christmas period as the Omicron variant affected travel. Passenger load fell to 67% in December from 80% in November. However, bookings have increased due to the government’s announcement that tests are no longer necessary. “Booking volumes jumped in the UK following the welcome reduction of travel restrictions announced on 5 […]

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Software revenues at Sage Group are up 13% to £336m whilst recurring revenue growth was up by 8% to £429m. Total Group revenue jumped by 5% to £458m. In North America, revenues increased by £174m whilst in Northern Europe, revenues increased by 7% to £102m. Jonathan Howell, the chief financial officer of the group, said: […]

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Microsoft shares were down 5% despite the group beating analyst expectations with profits of $18.8bn for the final three months of 2021. The group reported revenues of $51.7bn, which is 20% higher than a year earlier. Satya Nadella, chairman and chief executive officer, said: “Digital technology is the most malleable resource at the world’s disposal […]

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Wizz Air has reported wider losses in the three months to 31 December as travel was disrupted by Omicron and the group carried out expansion plans. The airline hired new employees and bought new airplanes causing losses to deepen from £223.6m to €267.5m, which is a difference of 129.8%. The number of passengers in he […]

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Marston’s reported a drop in Christmas trading, however, remains confident that trading will strengthen. In the 16 weeks to 12 January 2022, sales were down 3.9% amid the Omicron wave. In the last eight weeks, sales were down 8.8% as the government advised people to work from home. Andrew Andrea, Marston’s boss, said he was […]

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The UK government borrowed almost £17 billion in December, making it the fourth highest December total on record. After the sharp rise in inflation, debt interest payments increased to a six-month high. “We are supporting the British people as we recover from the pandemic through our plan for jobs and business grants, loans and tax […]

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Royal Mail has announced plans to cut 700 manager roles. As part of a restructure, the group will let go of 700 managers which will lead to savings of £40 million per year. The cost of restructuring will be an initial cost of £70 million, which will lead to lower profits from the year. Profits […]

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Retail sales in the UK were down 3.7% in December. Footfall on the high street dramatically fell as people avoided shopping centres amid the Omicron variant around Christmas. Sales at department stores, household goods stores and clothing retailers were hit. The ONS said: “Clothing stores and department stores reported a fall of 8.0% and 6.3% […]

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Netflix has forecast a slowdown of subscribers as we emerge out of the lockdown and completion grows. The streaming company expects to add 2.5 million subscribers in the first quarter of 2021, which is almost half of what was estimated by analysts. In the same period last year, subscribers grew by four million. As a […]

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The Restaurant Group has raised profit expectations after a strong Christmas period. Although the Wagamama owner was affected by work from home guidance and Covid restrictions, sales remained strong in the previous quarter. In October and November, sales were up 11% and 8% compared to the same periods in 2019. Sales in December dipped 10%. […]

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Superdry revenues are down 1.9% as it continues to suffer amid the pandemic. Losses before tax narrowed from £10.6m to £2.8m whilst statutory pre-tax profit increased to £4m. The group is expected to achieve expectations for the full-year. The retailer ended the half-year with £3.9m net debt. The group has started to unwind a £10m […]

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Workspace Group has posted a strong third quarter despite the guidance for people to work from home. The flexible office space has been running at 43% of pre-Covid levels, falling in January as Covid rates rose over Chrismas. “It has been a good quarter, with continued positive momentum in occupancy and pricing,” said chief executive, […]

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ABF has said that it will increase the costs of its groceries amid inflationary pressures. The group, which owns a grocery, sugar, agriculture and ingredients businesses as well as the retailer Primark, has said the rising costs are impacting profits. “In our Grocery, Sugar, Ingredients and Agriculture businesses we have seen an escalation in the […]

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WH Smith has reported a slump in spending across airports and train stations amid Omicron. The group’s travel arm has been hit by the pandemic. Airport stores were trading at 58% of 2019 levels in January. Stores at train stations were trading at 69% in December. “We have seen a small impact from the Omicron […]

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Centaur Media shares jumped over 6% this morning on strong revenues. The group has said that it expects to have revenues of at least £38.5m for the full year. Centaur Media ended the year with £13.1m, which was up from the £8.3m in 2020.  “In 2021, we introduced our Margin Acceleration Plan, MAP23, to drive profitable […]

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Inflation has jumped to a 30-year high, hitting 5.4%. According to the Office for National Statistics, consumer prices index rose from 5.1% in November to 5.4% in December. Inflation has not been this high since it was 7.1% in March 1992. “What is of particular concern is that the change from November has come mainly […]

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Hotel Chocolat has posted strong sales and saw revenues increase 37% year-on-year. Sales were strong all over the world, with 128% growth in the US and 131% growth in Japan. In Japan the customer database has grown by 1000%. “These results demonstrate that the Hotel Chocolat brand is connecting with more customers, as we invest […]

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Hugo Boss is almost back at pre-pandemic levels after strong fourth-quarter earnings. Revenues jumped 43% in 2021 to €2.79bn (£2.33bn), which is just 1% below pre-pandemic levels. Fourth quarter sales jumped 55% to €906. The group has raised its outlook for sales and expects them to grow 40%. “2021 was a highly successful year for […]

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Marshalls reported strong results this morning as revenues jumped 26% to £589m. Compared to the same period in 2019, revenues were up 11%. “The Group has strong supplier relationships and our centralised procurement team continue to actively manage the supply chain to create flexibility and reduce risk,” said the group in a trading statement. “Underlying […]

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Experian posted strong results this morning, where revenues grew 14%. Organic revenue was up 11% and organic growth in B2B revenues was 6%. “We now expect organic revenue growth for the full year to be in the range of 12-13%, with total revenue growth now expected in the range of 16-17%, at constant exchange rates. […]

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TPG shares jumped almost 12% yesterday on the US Private equity giant’s first day of trading. The group valuation surged to $10bn. It’s the biggest floatation in the US so far this year. TPG has almost $109 billion in assets and has investments in AirBnb, Spotify and many other companies.  “We will continue to build […]

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Cineworld revenues almost hit pre-pandemic levels last month thanks to hits such as Spiderman. Like-for-like revenues worldwide were at 88% of December 2019 levels. Upcomnig films including Jurassic World: Dominion and a Mission Impossible film also hope to boost revenues. “This recovery has been driven by an excellent slate of movies, including record-breaking Spider-Man: No Way […]

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Despite less demand, Halfords has posted a 13.9% rise in two-year revenue growth. Over the past two years, revenues have soared by 90% as cycling became popular over the pandemic. Over the first half of the third quarter, sales were strong but were impacted by Omicron. “These results demonstrate the strength of our motoring services […]

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After strong sales in the last quarter, Tesco has raised its profit outlook. Compared to last year sales were up 0.3%, however, compared to pre-pandemic levels sales jumped 8.8%. CEO Ken Murphy commented: “We are delighted that we were able to help our customers have a great Christmas.” “Despite growing cost pressures and supply chain […]

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M&S has posted strong Christmas results, with sales up 8.9% in the last quarter. The group posted a rise in food sales by 12.4% and customers increased basket sizes and spent money on higher end products to celebrate the festive season. Clothing & home sales were up 3.2%. “Trading over the Christmas period has been […]

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Topps Tiles has reported strong sales for the 13-week period ended 1 January. Sales were up 21% over the period for a two year period. “We have made an encouraging start to the new financial year, with strong customer demand during the first quarter and like-for-like sales growth on both a two year and one […]

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DFS has reported strong results as sales were up 10% compared to the same period in 2019. Sales remain 2% lower than in 2020, where there was a surge in people carrying out home improvements over the lockdown. Chief executive Tim Stacey said: “While the market remains hard to predict, we believe our scale, brand […]

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After a strong Christmas period, Sainsbury’s will be raising profit forecast for the year to April. Strong grocery sales from people staying at home meant the group is now expecting pre-tax profits of at least £720m in the year to March 2022. “We were bold in our plan for product, value, innovation and service and […]

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Darktrace shares jumped 20% after the group raised its full-year outlook for revenue and earnings margin. Thanks to a growth in customers by almost 40%, the group now expects year-over-year revenue growth of between 42% and 44% – which is an increase of 5%. “I am very pleased that we have continued to deliver strong […]

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Recruitment firm Robert Walters has reported a boost in activity as firms are hiring more staff. The group reported a record December fee income was up by 33% in the last quarter of the year. “We are seeing candidate shortages across all locations and disciplines, a fierce competition for talent and wage inflation kicking in […]

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In December, Heathrow had 600,000 people cancel travel plans over Omicron. Through the whole year, Heathrow only saw 19.4 million passengers going though the airport – this is compared to the 80 million it had in 2019. CEO John Holland-Kaye commented: “There are currently travel restrictions, such as testing, on all Heathrow routes – the […]

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Samsung has said that profits are expected to jump 52% for the last three months of 2021. Despite the chip shortage storm, the group said that it is likely to have made 13.8tn won (£8.5bn) during that period thanks to the high demand. “Samsung is well placed to profit from the record-breaking demand for PCs […]

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Aston Martin sales jumped 80% last year as they sold just over 6,180 vehicles. By the year 2024, the luxury carmaker has said it expects to hit revenues of £2bn. Lawrence Stroll, the executive chairman, said: “I am extremely pleased that our core business has delivered to plan with over 6,000 core wholesales in the […]

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The Institute of Student Employers (ISE) has found that this year, vacancies for graduates will be 20% higher. Firms particularly in energy and the environment are offering more graduate jobs than in 2021. Jobs in the public sector offered will be lower than 2021 but will remain high than pre-pandemic levels. “The number of graduate […]

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B&M revenues have increased and the group increased its full-year expectations. For the 13 weeks from 26 September 2021 to 25 December 2021, the retailer said that revenues increased 14%. “Our decision to take receipt of imported Christmas stock early in the season meant we were able to provide customers with great products at great […]

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Next has increased its full-year profit outlook after a strong Christmas period. In the eight weeks to boxing day, full-price sales jumped 20% compared to the two years previously. Full-year profit before tax guidance has increased from £22m to £822m. “In the run up to Christmas our stock levels were materially lower than planned. We […]

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Greggs has said that its full-year trading will be ahead of expectations. Like-for-like sales are 0.8% higher than the same period two years ago. The group, which has over 2,000 stores across the UK, saw strong sales of its Christmas products including 6.7m mince pies. The group saw “a strong performance in October being followed […]

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The value of Home Entertainment jumped 13.3% to £3.7bn in 2021. As cinemas reopened and the new James Bond film became the biggest selling title of 2021 selling 1.1m units across disc and digital formats.  “The figures released today show what we at Sony Pictures firmly believe: that despite a challenging period for the industry […]

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Glenveagh Properties has posted a rise in revenues to €476m, which is a 64% jump. Revenues were also up 36% compared to the same period in 2019 and have a total forward order book of around €415m. Despite the positive trading update, the group warned of labour shortages that would create challenges for the next […]

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Shoppers spent £11.7bn over the Christmas period, spending more money on the more premium items over the holidays, according the latest data from Kantar. In the four weeks to 26 December, shoppers spent £627m on more expensive items, which is 6.8% more than the year previously. “The appetite to celebrate and splash out that little […]

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The economic recovery this year has seen oil prices surge by 50% over 2021, which is the biggest gains in 12 years. Brent Crude was $52 per barrel in January but is ending the year close to $80 per barrel. Demand has increased and prices have soared as lockdowns eased and travel has resumed over […]

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According to Barclaycard, people were spending most of their money this year on online shopping, home improvements, streaming subscriptions and takeaways. Despite non-essential shops being closed at the start of 2021, people spent most of their money online as online transactions surged by 88% in March 2021 compared to March 2019. And whilst hospitality venues […]

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The FTSE 100 has posted its best year since 2016. London’s stock market closed the year 14.3% higher than the start of the year. Shares rallied over the year amid the vaccine optimism, shrugging off fears of supply chain issues. Global markets are ending 2021 near record highs, seeing the MSCI World Index has surge […]

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New research has found that nine million people in the UK have been forced to cancel or postpone holidays to the US or mainland Europe due to travel restrictions. The research by Ziglu, shared with City A.M, found that Brits are spending an additional £2,000 on holidays due to travel restrictions and test requirements. Mark Hipperson, […]

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After hitting a 22-month high, the FTSE has dipped 10 points at 7410. Travel stocks fell as Omicron case numbers continue to grow, with IAG being the top faller and dropping 2%. Flutter was down 1.4%, Entain was down 1%, whilst BT fell 1.6%. Travel stocks have continued to fall this week due to Omicron cases and bad weather […]

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According to Nationwide, UK house prices have had their strongest year since 2006. December saw house price growth increase to 10.4%, which is up from 10.0% in November. House prices were up by 1% in December, meaning the average home in the UK now costs £254,822 – £24,000 then the start of the year. “Demand has […]

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UK households are likely to be hit next year amid rising tax and energy bills, along with stalling wages. The Resolution Foundation has said that next year could be “year of the squeeze”, and higher energy bills could cost households £1,200. The report said: “The months ahead will not be easy for households who see […]

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Air travel in the UK was down by 71% in 2021. Aviation analytics firm Cirium found that in 2021, 406,000 international flights operated from the UK, which is much lower than pre-pandemic levels of 1.4m. Domestic flights were down by 60% and outlook for next year continues to be uncertain. The most popular flights were […]

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New data has revealed that pubs and hospitality venues lost £10,000 in the week before Christmas. UKHospitality found a drop in takings by 60% on Christmas Day, with London being hit the hardest. Gillian Keegan, health minister, defended the government’s support to hospitality, which is grants of a maximum of £6,000. This is below average […]

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Klarna has joined forces with GoCardless to tap into the US audience of 21 million. Customers who use Klarna are able to pay in four instalments with zero interest. “The US is a key market for Klarna, and we continue to see strong growth, doubling our customer base to over 21 million from last year,” […]

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Shares in Genedrive jumped 14.4% to 41.5p on Wednesday. The group’s shares surged after it was approved to sell products in the UK. CEO David Budd said: “The next milestone is approval by the Department of Health and Social Care. However, no assured timeline is provided on how long the review under CTDA regulations will take, […]

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Gas prices have hit record highs due to high demand and tensions between Russia and the West. UK gas increased 20% in a day to 457p per therm. The European benchmark jumped 16% to €171.40. Commenting on gas prices, James Waddell, head of European gas at Energy Aspects said: “Europe has very little storage buffer this winter […]

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Hiscox has named Paul Cooper as the group’s new group chief financial officer. Cooper is currently the interim group chief financial officer of M&G Plc but will move over and join the international insurer, although his starting date is not yet confirmed. He said: “Market conditions are excellent and there is significant opportunity for profitable […]

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The latest figures from the Office for National Statistics public borrowing last month was its highest level since the 60s. It was the second-highest November on record – with the first highest November being in 2020 at the height of the pandemic. Borrowing surged to  £17.4bn last month, which was higher than predictions. “These data predate […]

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Three and EE have said that they will partner up to bring 4G to the tube. Stations including Oxford Circus, Bank and Camden Town will have 46 by the end of 2022. The rest of the underground will take a further two years. Mayor Sadiq Khan commented: “This will make a huge difference to passengers, […]

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Just Eat has partnered with Asda, where from January customers will be able to order supermarket items. Andrew Kenny, the UK managing director of Just Eat, said: “We live in an on-demand world. We want to make sure we are getting our customers the food they want, when they want, when they want it. Our […]

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The UK house price boom is set to end next year, Halifax has predicted. In its predictions, the mortgage lender said that house prices might only increase by 1% in 2022 after surging 8% in 2021. “Looking ahead, with the prospect that interest rates may rise further in 2022 to subdue rising inflation, and with […]

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UK retail sales jumped 1.4% in November. Retail sales are 4.7% higher than the same period a year earlier. The latest figures show that clothing sales are up by 2.9% and other non-food stores saw growth increase by 2.8%. Commenting on the figures, Danni Hewson, AJ Bell financial analyst, said: “It looked like Santa had […]

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The UK health minister confirmed that there would be no tighter restrictions ahead of Christmas. Gillian Keegan confirmed that no extra measures would be bought in ahead of December 25. Keegan also confirmed that extra measures would be bought in to protect businesses.  “We do still have support in place for businesses,” Keegan sain on […]

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Walkers have swung to profit for the first half of the year. Revenues were up by 9.3% and increased from £14.35m to £15.69m. Profits grew from last years loss of £374,000 to a profit of £232,000. “The Group reports a small profit at the half-year compared to the prior period loss, and continues to generate […]

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Boohoo has lowered its full-year sales growth guidance, from 25% to 12% – causing shares to plunge. Shares fell 11% this morning to 122.05p. Despite strong demand, guidance was lowered due to continued supply chain issues and inflation. Chief executive John Lyttle said: “The group has gained significant market share during the pandemic. The current […]

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Curry’s has said that despite supply chain issues, it remains to be on track with profit expectataions.  “We may face into further headwinds from Omicron and associated restrictions, but the stronger business we’ve built can ride out both the industry-wide disruption to supply chains and bumpy demand,” said chief executive, Alex Baldock. “Yes, more customers […]

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Hollywood Bowl profits increased despite Covid restrictions in the past year. The group reported profit after tax of £1.7m. Chief executive Stephen Burns said: “The past year has been challenging but also rewarding. “I am delighted about the excellent performance since reopening, including delivering record activity for both a single day and an entire month, […]

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Inflation has hit its highest point in over a decade. It jumped to 5.1%, which is over double the Bank of England’s hope to keep it at around 2%. In October, inflation was 4.2%. Inflation has risen due to rising fuel costs, which have affected travel prices. “The price of fuel increased notably, pushing average […]

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Pubs and restaurants across the UK have predicted a 40% dip in takings across the Christmas period under the new measures. As the government has told people to work from home, 25% of Christmas parties in London were cancelled whilst general takings were down 40%. “The damage has been done. We immediately saw cancellations. Anybody […]

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Begbies Traynor has reported a 39% rise in revenues from £37.5m to £52.3m. Pre-tax profits also rose from £0.5m to £2.7m in the six months to the end of October. The group has said that it expects to reach market expectations for the full year. Chief executive Ric Traynor commented: “I am pleased to report […]

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Ocado has said that it is expecting its strongest ever Christmas period. The group released results for the 13 weeks to 28 November, with £547.8m of revenues. This was down from £570.1m in the same period a year earlier. “The investments we have made over the past year mean we have significant capacity for growth […]

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Primark owner, Associated British Foods, reported this morning that Primark had been trading strongly and sales had been ahead of those in the same quarter last year. The group has seen  “significant progress” and business across its grocery, sugar, ingredients and agriculture had also continued strongly. “In terms of the Omicron variant we haven’t really […]

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Nexus Infrastructure has posted strong results and has returned to profit after difficulties in the pandemic. Revenues grew from £125.7m to £137m and the group reported a profit of £3.8m.  “The group has an important role to play in delivering sustainable infrastructure for the UK.  We have achieved a strong recovery from Covid-19, delivering profitable growth, […]

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The UK’s GDP grew just 0.1% in October, highlighting the minute growth. As firms struggle amid shortages and supply chain issues, the economy came to a standstill and was well below analyst expectations of 0.4%. The economy was pushed by demand for second-hand cars and a growth in business at employment agencies.  CBI Lead Economist, […]

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ITV expects revenues to recover in 2022 and return to pre-pandemic levels. The group also hopes to expand on international business and increase global formats in countries around the world. Commenting on ITV’s vision for the next five years, Carolyn McCall the chief executive said:  “The vision we set out for ITV Studios in 2018 […]

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MADE has revised its revenue guidance amid supply chain issues. The home retailer has warned investors of a £12m to £15m loss to earnings, now standing at between £365m and £375m. “MADE has continued to deliver significant progress on its key strategic priorities as set out at the time of the IPO,” said the group […]

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Dr Martens has posted a 46% increase in half-year profits to £61.3m. Revenues also jumped 16% in the period between April and September to £369.9m. Growth in sales was particularly high in the US, where the business grew 57%. In Europe, the group grew 12%. “Our strong first-half performance combined with the continued momentum in […]

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After 14 years, Taylor Wimpey CEO is stepping down. Pete Redfern will continue at the group until a successor has been appointed. The board is considering internal and external candidates.  “Pete has made an invaluable contribution to the business during his almost 15 years as CEO, including having successfully led the company through a global […]

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Travel company Tui has narrowed losses from €3.5bn to €2.4bn (£2.1bn) for the year to the end of September. The group remains optimistic about next year’s summer, however, is concerned about rising cases and the Omicron variant. “It is still too early to make a real forecast for the 2022 summer season,” said chief executive, […]

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A video that was obtained by ITV News shows government staff joking about last year’s number 10 Christmas party held during the lockdown. In the video, Boris Johnson’s press secretary Allegra Stratton is rehearsing a press conference in December last year after the government continued to insist no party took place. At the time of […]

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New data from Halifax has found that the average cost of property in the UK has jumped to £272,992, which is a 15-year high. The average house price in London is £521,129, which continues to be much more expensive than the rest of the UK. Russell Galley, managing director of Halifax, commented: “This is the […]

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Paragon Banking Group saw underlying profits jump 61.8% to £194.2m in the year to 30 September. This is up from the  £120m profit recorded for the same period a year earlier. The group has announced a full year dividend of 26p, which increased from 14.4p last year. Nigel Terrington, chief executive, said: “We have delivered […]

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Supreme has reported a 9% growth in revenue to £61.1m. The maker of goods including vapes reported a surge in revenue growth by 192% for its sports nutrition and wellness goods, as it acquired nutrition brand Sci-MX earlier this year. Supreme also acquired Millions & Millions and Vendek.  “The combination of Supreme’s extensive retail relationships […]

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Nationwide has announced that Debbie Crosbie will be its new chief executive officer. Crosbie is currently boss at Spain’s Sabadell’s TSB unit but will be joining Nationwide next year, as the group’s first female chief executive. Kevin Parry, Nationwide’s chair-elect, commented: “The Board is delighted that Debbie has agreed to join Nationwide as Chief Executive. […]

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Shell has said that it will no longer be developing the controversial Cambo oil field in the North Sea. The oil giant said in a statement that it “concluded the economic case for investment in this project is not strong enough at this time, as well as having the potential for delays”. Siccar Point is […]

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Wickes has said that its full-year profits will be above analyst expectations of £67-£75m. The home improvement group said that full-year profits are expected to be up to £83m thanks to its agile business model and strong demand for services over the lockdown. “This has been a period of further progress for Wickes, where our focus on […]

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AJ Bell has enjoyed a record number of people on its platform, leading to a boost in profits. In the year ending 30 September customers increased by 87,450. Assets at the group jumped from £56.5bn to £72.8bn. “We continue to see significant long-term opportunities in the investment platform market,” said chief executive Andy Bell. “The […]

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Auction Technology Group has posted a 34% rise in revenues to £70.1m. However, the online auctioneer saw losses grow 44% to £27.3m, which was due to costs around its IPO earlier this year. CEO John-Paul Savant said: “We delivered revenue growth of 34 per cent and were excited to welcome Auction Mobility and, following our […]

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New data has found that Black Friday failed to get UK shoppers out to high streets. The latest data from Springboard found that this year’s footfall was down 14.5% on 2019 levels. “Despite the tube strike, footfall rose in Central London by +13.3% from the week before [on Black Friday],” said Diane Wehrle, insights director […]

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Brickability revenues soared 197% to £223.5m amid the boom in construction. The construction materials provider saw revenues jump in the six months to September 2021 from £75.3m a year previously. Chairman, John Richards, commented: “As the housebuilding and construction market has continued to improve, all our divisions have benefitted from the increased demand which has […]

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Peel Hunt has posted a dip in revenues and profits in the six months to 28 September. The group’s revenues were down 23.4% from £93.2m to £71.4m, whilst pre-tax profits fell from £56.6m to £29.5m. The broker said that results were in line with expectations after the “exceptional trading and heightened market activity” during the […]

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Loungers has revealed strong results as Covid restrictions were lifted. The group posted £102m in revenues for the six months to October 3 and pre-tax profits of £12.8m. Nick Collins, chief executive of Loungers commented on the growth and prospect of vaccine passports, saying: “I don’t think certification would be likely to applicable for us […]

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Topps Tiles has reported record revenues and a growth in sales for the past year. Although the stores were closed amid the lockdowns earlier this year, Topps Tiles saw a strong demand and sales grow. Like-for-like sales were up 19.6% whilst pre-tax profit jumped from £3.6m to £15.3m in the 53 weeks ending 2 October. […]

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Revenues at Wise soared 33% to £256.3m in the first half of the year. The money transferring service has seen a growth of people using its quick services to transfer money, 40% of transfers were instant in the past three months. Over the past three months, Wise said that 3.9 million customers transferred over £34bn, […]

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Marston’s has reported a 22% fall in revenue £402m amid Covid disruptions. However, the pub group has said that trading is back on track since lockdown measures have eased. Like-for-like sales have jumped 102% since July, which is when most measures eased. The group is still in loss though and posted a pre-tax loss of […]

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A new survey from the CBI has found that shoppers might face the biggest price rises in over 30 years amid widespread shortages. “Christmas seems to have come early for retailers, with clothing and department stores in particular seeing a big upward swing in sales volumes in November,” said Ben Jones, CBI economist. “Overall, retailers […]

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The French government has uninvited Priti Patel to a meeting with European interior ministers. The move was made after Boris Johnson reportedly asked France to “take back” the people who have crossed the Channel. The news is following the death of 27 people whose boat was capsized when crossing from France to the UK. A […]

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A report has found that Rishi Sunkak’s Kickstart scheme is not delivering value for money. The scheme, which gets young people who are on universal credit into placements for 16- to 24-year-olds, has found to be flawed by the National Audit Office (NAO). “At the start of the pandemic, DWP acted quickly to set up […]

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New data from Nationwide Building Society has found that first-time buyers need to have 5.5 times their typical annual earnings to get on the property ladder, this number increasing to 9 times in London. “In the third quarter of this year, the UK first-time buyer house price-to-earnings ratio stood at 5.5, above the previous high […]

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Fund manager MJ Hudson has posted a £5.3m pre-tax loss in the year to June, which is slightly less than last year’s loss of £7.3m. This is despite a strong demand for private equity and ESG products. “There is growth in private equity and other alternative funds assets under management, as investors seek higher returns […]

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Mitchells & Butlers has announced its more recent financial report. The group, which owns All Bar One, Harvester and Toby Carvery, found revenues to fall from £1.47bn to £1.06bn. The group has also posted a loss, which has been reduced from last year’s loss of £123m to £42m. Sales at the group have stayed below […]

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Pret lunch sales have fully recovered across the whole of the UK, however, are still down in the City of London. Sales were down 13% last week as people in the City are still working from home part-time. Despite this lull, sales across the UK more generally have hit pre-pandemic levels. “On average around the […]

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Mulberry has reported strong results and has returned to pre-pandemic levels. The group said that first-half revenue soared 34% thanks to strong UK sales and growth in Asia. Profits at Mulberry were £10.4m, which is compared to the £2.4m loss posted a year earlier. Sales in the UK jumped 36% to £38.0m, which was a £10m […]

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Lidl has plans to have 1,100 stores across the UK by 2025. The discount supermarket will create an additional 4,000 jobs and has already opened 55 stores in the past year. In the 12 months to the end of February, revenues increased 12% to £7.7bn. The retailer posted £9.8m in profits, which is compared to the […]

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Softcat has announced its latest results, which are in line with expectations. The IT infrastructure technology and services company has seen strong results thanks to a growth in demand.  “The team has continued to perform well during the first quarter and we saw good growth from both mid-market and enterprise corporate customers as well as […]

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Pets at Home revenues surged 18% to £677.6m in the six months to the 7th October. Like for like sales increased 28.6%. “Our business has never been more robust,” said Peter Pritchard, chief executive. “Notwithstanding some near-term, industry-wide challenges, we continue to grow ahead of our plans and, based on trading year to date, we […]

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AO World has cut its profit forecast for the second time this quarter, amid supply chain issues and rising costs. Although the company saw a successful year over lockdown, it is showing growing concerns around global shipping and product shortages. Revenues at the electrical goods retailer could be down 5% this year. Expected profits for […]

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For those pushing for corporate change, activist investing is a movement gaining greater control and here to stay. As a means to encourage companies to rethink investor strategies, buying and pooling shares together allow individuals to gain influence, lobby for change and pressure leadership to create positive change. Socially responsible investing is the new wave […]

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The latest figures found retail sales in the UK to rise 0.% in October. The Office for National Statistics (ONS) said retail sales rose last month after two months of no movement. Non-food stores saw sales rise by 4.2%. Toy stores and sports equipment stores saw particularly strong sales whilst clothing sales are now just […]

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Nationwide profits have more than doubled for the first half of the year. In the same period last year, profits were £361m. They have now doubled ti £853m for the six months to 30 September. Chief financial officer Chris Rhodes said: “During the pandemic, strong demand for mortgages, coupled with macro-economic uncertainty, led to higher margins […]

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After strong results, the Royal Mail has promised a £400m to shareholders. The group saw a pandemic boom and adjusted operating profits surged to £404m for the six months ended in September. Royal Mail has forecast full-year profits of £500m. “The pandemic has resulted in a structural shift and accelerated the trends we have been […]

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Investec profits have more than doubled in the first half of its new financial year. Increased client activity and lower funding costs boosted profits at the FTSE 250 group, which is offering 15% of its 25% stake in asset manager Ninety One in shares to its shareholders. Investec has announced an interim dividend of 11p. […]

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Flutter Entertainment has said it will buy bingo group Tombola in a £402m deal. The owner of Paddy Power and Betfair has purchased the group and the deal will be completed early next year. Tombola has around 400,000 monthly users and is based in Sunderland and Gibraltar. It had revenues of £164m in the year […]

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The cost of used cars in the UK have soared as inflation also hits record highs. The average price for a used car in the UK jumped 26.9% to almost £20,000, according to Auto Trader. Auto Trader’s data and insights director Richard Walker commented: “To see such a huge increase in car prices in such […]

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British Land has posted profits for the second half of the year thanks to improved rent collection. The firm posted post-tax profits of £8370m, which was up from a £730m loss a year earlier. Chief executive Simon Carter said: “Demand is firmly focused on the very best (office) space, with an emphasis on sustainability, wellness, […]

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UK inflation has jumped to a 10-year high of 4.2%. Inflation has risen 3.1% in September and is higher than analyst expectations. The inflation rate was driven higher by the cost of electricity, gas and other fuels. Also driving up inflation was petrol prices. Average petrol prices in October were 138.6 pence per litre, which […]

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New data from Rightmove has found that the average house price on the market is £2,000 lower this month. The cost of an average home is 0.6% lower than in October and now stands at £342,401. This is the largest monthly decline since January, which was 0.9%. “New sellers have given buyers an early Christmas […]

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Amazon has announced plans to open 260 grocery markets in the UK. All of the supermarkets will be cashierless, with the first 60 to open in 2022 and then further 200 to open before 2024. “In 2022, we assume a broader rollout of 2 store launches per week by the end of [the] year, targeting […]

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In its most recent trading update, Cineworld has reported 90% of pre-pandemic revenues. On 2019 levels, revenues were 129% up and the cinema said that demand had steadily increased across UK and Ireland. Films including the latest James Bond and Black Widow had boosted the group’s recovery. “James Bond has come to the rescue of […]

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The number of vacancies in the UK has now reached 2.7m according to the Recruitment and Employment Confederation (REC). The first week of November saw 221,000 new jobs posted, which is the fourth highest weekly number since the start of 2020. Most jobs posted were for driving instructors and forklift truck drivers whilst there was […]

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Alibaba reported record sales amid the Singles Day shopping event. The Chinese e-commerce group 540.3bn yuan (£63bn) spent by Chinese shoppers on the day that is similar to US Black Friday shopping. Strong sales were in cosmetics, appliances and electronics. This is the first year that year-on-year growth failed to reach double digit growth. Rui Ma […]

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AstraZeneca sales jumped 50% in the third quarter, whilst revenues were up 50% this quarter and 32% over the whole year. The Covid-19 vaccine is now expected to become profitable. The group has sold 2.2 billion vaccines since the year started.  “AstraZeneca’s scientific leadership continues to provide strong revenue growth and exceptional pipeline delivery, with […]

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Auto Trader has reported its highest ever profits and sales for a six month period as the group focused on digital offerings. Revenues soared 82% to £215.4m whilst profits jumped 121% to £151.7m. “Early in the pandemic we acted decisively to protect our people, customers, and business. As a result of these actions, we have […]

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Taylor Wimpey has said it is on track to meet full-year expectations. The housebuilder said results were good thanks to a strong demand, which helped it to offset a shortage of drivers and global supply chain issues. Pete Redfern, chief executive, said: “We are pleased with performance in the second half to date, and remain on […]

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The UK’s economic recovery has slowed down amid rising Covid rates and global supply issues. In the three months to September, the economy expanded 1.3%, which is 2.1% lower than pre-pandemic rates. The was a 0.3% fall in manufacturing output, whilst construction was down 1.5%. “Growth picked up in September and the UK economy is […]

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Asos has announced growth plans, where the retailer will target £7bn worth of sales over the next 3-4 years. The move aims to achieve a compound annual growth rate of 15-20% and double its size in the UK and US. Asos also said it will embark on cost-saving efforts worth £50m-£100m. Following the announcements, the […]

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Rising revenues at Halfords has led to the group raising its profit guidance for the full year. Full-year profits are expected to be in the £80-90m region, increasing from previous forecasts of £75m. New growth in profits is from increased demand at autocentres and cycling divisions. Demand for autocentres have seen increase in revenues by […]

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ITV is set to celebrate its highest advertising revenue in history thanks to the Euros and post-pandemic recovery. Revenue for the first nine months of the year is up 30% to £1.3bn. The group said total advertising revenue for the full year is expected to jump 24% to reach an all time high. Carolyn McCall, […]

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The PITCH competition, powered by Siemens, took place at this year’s Web Summit with 650 startups taking part over the three days of the conference based in Lisbon. The winner of this year’s competition was an environmental startup, Smartex, which is an AI-based solution that reduces defective production of knitted fabrics to close to 0%. […]

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Watches of Switzerland has posted strong UK performance as revenue increased. The group has raised full-year revenue guidance from £1.05-£1.10bn to £1.15-£1.20bn. Revenue jumped by 44.6% to £586.2m for the period.  “We are very pleased with our first half performance,” said chief executive, Brian Duffy. “Over the last two years, we have demonstrated the versatility […]

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Persimmons announced “healthy” demand over the last quarter thanks to strong sales amid the stamp duty holiday. Forward sales jumped from £0.95bn in 2019 to £1.15bn, whilst sales of private new homes were up by 16%. Dean Finch, chief executive, commented on the results: “Persimmon continued to perform well through the period against a backdrop […]

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The owner of British Airways, IAG, reported a €2.6bn (£2.3bn) for the first nine months of 2021. Shares in IAG fell 3% this morning as it also predicted full-year losses to hit €3bn. In the three months to the end of September were just 43% of pre-pandemic levels. However, the UK-US flights are set to […]

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The Bank of England has predicted that inflation will rise to 5% over the next year. UK wages will not be able to keep up with inflation, leading to struggles for households across the country. Bank of England governor Andrew Bailey told the BBC: “I’m very sorry that’s happening. None of us want to see that […]

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House prices jumped 0.9% in October, according to Halifax. It’s the fourth monthly increase in a row and house prices now cost an average of £270,000 in the UK. “One of the key drivers of activity in the housing market over the past 18 months has been the race for space, with buyers seeking larger […]

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Passenger numbers for Wizz Air are growing and the group is set to be back on pre-pandemic levels. Revenue in the second quarter of 2021 jumped from €471.2m to €880.4m thanks to a growth in passenger numbers by 92.7%. Wizz Air’s chief executive Jozsef Varadi, commented: “Close to 10 million passengers booked a Wizz Air […]

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Virgin Money has said that it is expecting pre-tax profits to jump 546% to £801m. Pre-tax profits at the group is expected to be £417m for the year, which is a jump of 10.2% compared to the same period last year. New customer sales rose 95% while personal lending increased 4%. The group has said […]

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Pre-tax profits at Sainsbury’s have jumped to £371m for the 28 weeks ended September 18. Higher grocery sales thanks to more people eating at home saw revenues rise 23% compared to the first half of 20/21. The group expects pre-tax profits to be at least £660m in the financial year to March 2022. Chris Daly, […]

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The extraordinary run of cryptocurrencies has attracted a vast number of new investors who have been drawn in by the potential for huge profits and risk-taking. Proving to be extremely volatile, facing crackdown in China and issues over energy use – just how long will cryptocurrencies be popular amid investors? Kathleen Breitman, Pascal Gauthier and […]

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The average cost of a property has jumped almost £30,000 since the start of the pandemic. New data from Nationwide has found property prices to hit record highs and the cost of an average home now costs over £250,000 for the first time. Robert Gardner, Nationwide’s chief economist, commented: “Combined with a lack of homes […]

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Morgan Sindall has said that it expects a strong full-year performance thanks to the full lineup of work it has scheduled for the rest of the year. “Trading remains strong across the Group and our high-quality and growing workload leaves us well set for the future,” commented the chief executive, John Morgan. “Inflation in the supply […]

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Trainline has reported a 151% increase in revenues for the first six months of FY22. Net ticket sales jumped 79% to £1bn whilst revenues reached £78m. This is the strongest results since the pandemic, suggesting a good recovery for the group. Last year, the group had a loss of £16m compared to this year’s profits […]

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The Web Summit is back for the first in-person event in two years, welcoming attendees from 128 countries. It is the biggest event in tech since the pandemic, with 42,751 attendees. Whilst it’s lower than 2019’s event with 70,469 people in attendance, the event has been scaled down in regulation with Covid restrictions. Over just […]

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Flutter Entertainment has reported strong growth in revenue for the third quarter. Quarterly revenue jumped 12% to £1.44bn and the group saw average monthly players rise 13% to 7.3 million. US revenue soared 85% to $386mn. Despite strong revenue, Flutter said they expect an Adjusted EBITDA loss of £250m and £275m. “A 7% earnings downgrade is not […]

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BP earnings have jumped in the third-quarter, thanks to a rise in oil and gas prices. Underlying replacement cost profit jumped from $2.8bn last quarter to $3.3 bn.  “Our businesses are generating strong underlying earnings and cash flow while maintaining their focus on safe and reliable operations,” said chief executive officer, Bernard Looney. He said […]

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New quarterly results from Standard Chartered have found pre-tax profits to jump 44%. The outlook for 2021 earnings growth remains flat, however, profits surpassed expectations and rose to $1.08bn. “We delivered a return to top-line growth in the third quarter and achieved further progress against our strategic priorities, with strong performance in our financial markets and […]

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In their third-quarter update, Glencore lifted its full-year adjusted earnings forecast. The group said it is now set to meet full-year earnings of $3.2bn as global energy markets rebalance. Commenting on the results, chief executive Gary Nagle said: “The asset base has largely performed in line with our expectations and our full year production guidance […]

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Natwest has put aside £300m in legal fees following their money-laundering scandal but still managed to triple profits from a year ago. The Financial Conduct Authority found that Natwest had failed to monitor money-laundering activities taking place in the bank. Natwest revealed the legal costs when announcing third quarter results. Natwest recorded operating profit of £1.07 […]

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In a major rebrand, Facebook has changed its name to Meta. The name change will not apply to individual platforms but will be for the parent company, as it broadens into virtual reality (VR). “Over time, I hope that we are seen as a metaverse company and I want to anchor our work and our […]

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Foxtons has reported strong results for the third quarter. Strong activity in the Uk housing market helped boost Foxton’s revenues by 114% to £38.3m. This is compared to the £17.9m revenues in the same period a year earlier and the £23.8m in 2019. “As a result of the Covid-19 lockdowns in 2020 and the early […]

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Shell has posted a fall in profits in the third quarter. The oil giant’s profits fell 25% quarter-on-quarter to $4.1bn, which was below analyst expectations. “Normally one shouldn’t get too hung up over a mere three months’ trading, but this was meant to be Shell’s big quarter, given the surge in oil and gas prices in […]

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Travis Perkins has posted strong Q3 results despite issues in the global supply chain. The building materials business posted a 13% rise in like-for-like sales as people continue with DIY projects in the house since lockdown. Full-year profits are now expected to hit £340m. “The group has delivered a strong performance in the third quarter […]

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Alphabet, the Google parent company, has posted an increase in profits and revenues for the third quarter. Revenue jumped 41% to $65.12bn. This is the largest revenue increase in 14 years. Advertising revenue jumped from $37.1bn $53.13bn. Sundar Pichai, chief executive of the group, said: “this quarter’s results show how our investments there are enabling […]

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Ikea has bought the Topshop flagship store on Oxford Street. In a move that cost £378m, the new Ikea store will open in autumn 2023. The transaction is expected to be finished in January 2022. “We are delighted to have exchanged contracts on this iconic property, which sits at the cornerstone of London’s principal retail […]

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Bloomsbury Publishing has posted a 225% profit growth to £12.9m, as well as a year-on-year revenue growth of 29% to £100.7m. Bestsellers at the group included The Priory of the Orange Tree by Samantha Shannon and Outdoor Cooking by Tom Kerridge. “For a time publishing firm Bloomsbury was like a magician with only a single trick. […]

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The Bank of England’s new chief economist has said that UK inflation could go above 5% next year. Huw Pill told The Financial Times: “I would not be shocked — let’s put it that way — if we see an inflation print close to or above 5%. And that’s a very uncomfortable place for a […]

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The increased demand for domestic holidays has meant Intercontinental Hotels Group is seeing an increase in bookings. The owner of The Crown Plaza and Holiday Inn reported a 66% increase in revenues for Q3, which is 21% behind pre-pandemic levels. “Domestic leisure demand was particularly strong in a number of markets over the summer, where […]

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Retail sales were down by 0.2% in September, according to the latest numbers from the Office of National Statistics. Despite the ending of almost all lockdown restrictions, retail sales volumes have fallen every month since April. Clothing and department stores saw a slight increase but it was Household goods stores that reported a 10% fall […]

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Barclays has posted record pre-tax profits for the third quarter. Profits hit £6.9bn, which is up from profits of £2.4bn that were made in the same period a year previously. “We continue to support our customers and clients through the COVID-19 pandemic, have achieved a double-digit RoTE in every quarter year to date, and expect […]

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Tesla has posted record quarterly net earnings thanks to a high sales of electric vehicles. The news comes despite global supply chain issues leading to a shortage of computer chips. Tesla posted $1.62bn profits, which is higher than the $1.14bn profits it made in the second quarter of this year which was the previous record. […]

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UK government borrowing almost halved this year. The number fell £7bn from September last year and was £21.8bn. It is still the second highest amount borrowed in a September since records began. Borrowing this year has been under the forecasts from OBR. The national debt is now up to £2,218.9bn, which is 95.5% of the […]

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New figures have found the number of lorry drivers in the UK to have fallen by 53,000 over the past four years. The Office for National Statistics (ONS) found the number of lorry drivers in the UK to fall by 17% to 268,000. Fewer people from the EU, an ageing workforce and higher costs amid Brexit […]

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UK inflation has dipped slightly, however, still remains above the Bank of England target. In August inflation hit its highest rate in nine years but has since dipped back down to 3.1% in September. “Annual inflation fell back a little in September due to the unwinding effect of last year’s ‘Eat Out to Help Out,’ […]

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Netflix expects to have added 8.5 million new subscribers added in the next quarter, thanks to the success of Squid Game. Whilst previous expectations were 8.3 million, the South Korean show that came out earlier this month has been the most-streamed original show. It has been estimated that the show will create almost $900 million […]

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Bellway profits more than doubled to £479m for the year to July 31. Revenues also jumped 40.3% to £3.12bn on the back of the strong housing market this past year. The housebuilder has warned of supply chain issues, which are holding back the construction sector. Disruption in supply chains is increasing the price of steel […]

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Asda has announced plans to hire an additional 15,000 workers over the festive season. The roles will be across stores, depots and in delivery. This week will also see the first Christmas delivery slots up for grabs, with the first available on Tuesday for Delivery Pass customers. “We will do all we can to make […]

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888 Holdings has posted a jump in revenues to $229.9m. The betting firm’s revenue was up in the three months to September 30 by 7%, rising from $215.6m (£156.53m). The group is expanding and in the last quarter, 888 Holdings announced plans to takeover William Hill. Commenting on the recent results, chief executive Itai Pazner […]

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The FTSE 100 has hit the highest level since February 2020. The blue-chip stocks was up to 7242.73 in early trading, driven largely by oil stocks and also banks, airlines, and hospitality. The biggest risers in oil this morning were BP, which gained 1.7% and Royal Dutch Shell, which was up 1.3%. Commenting on the news, […]

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In the latest Brexit U-turn, the government has said it will provide butchers to enter the UK on temporary visas. Environment secretary, George Eustice, said that 800 butchers would be granted 6-month visas to address staffing shortages in abattoirs and meat processing plants. He said on Thursday evening: “That will help us to deal with the […]

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The limit on contactless cards on Friday has more than doubled to £100. Back at the start of the pandemic, the limit was increased to £45 to reduce contact. The new limit will take a while to roll out as retailers change their technologies. “Contactless payments have become increasingly popular, and the payments industry has […]

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Speaking at the G7 meetings in Washington, Rishi Sunak attempted to reassure those who have expressed concerns over supply chain issues in the run-up to Christmas. A shortage of lorry drivers and a logjam of shipping containers have led to widespread concerns of shortages. “We’re doing absolutely everything we can to mitigate some of these […]

The post Sunak says there will be “a good amount of Christmas presents”, despite supply chain issues appeared first on UK Investor Magazine.

Dunelm has reported a rise in sales in the 13 weeks to September 25. Sales were up by 8.3%, which is lower than the 36.7% increase in the same period a year earlier during the lockdown. The group has warned over UK and global supply chain issues. Whilst there are some concerns over the its […]

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Domino’s has posted strong results for the third quarter, whilst also revealing plans to hire 8,000 new driver roles. The group reported a 9.9% increase in like-for-like sales in the quarter to £375.8m. The pizza company’s total earnings this year are now £1.1bn. “We have built on our strong performance through the pandemic as restrictions […]

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Barratt Developments has said that it is confident in meeting targets for the year after steady demand over the past quarter. Between 1 July and 10 October the group delivered 27 new developments and 281 net private reservations per week. “This is particularly encouraging given the significant year on year reduction in Help to Buy […]

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Marston’s sales tumbled 22% this year as lockdown restrictions hit the business. The pub group sales stood at £402m and the 1,500 pubs were only open for just over half of trading days for the year ending in October. Since April, the group has been trading at 94% of pre-pandemic levels, resulting in the groups’ […]

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The UK economy was up by 0.4% in August but GDP still remains 0.8% below pre-pandemic levels . The service industry was up by 0.3% whilst manufacturing was up by 0.5%. The economy in the three months to August grew by 2.9%, which is lower than forecasts of 3%. New data from the Office of […]

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EasyJet has seen a 400% surge in bookings over the Christmas period as travel restrictions relax. Despite the recovery, the company said it expects a £1.1bn pretax loss for the year and hopes to fly 70% of pre-pandemic levels this quarter. “It is clear recovery is underway. Business travel is returning to easyJet with corporates […]

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OnTheMarket.com has posted strong profits for the first half of the year. Revenues jumped 46% to £14.9m, whilst adjusted operating profit surged 163% to £2.1m. Traffic to the website jumped by 36%. Jason Tebb, CEO of OnTheMarket, commented on the “strong financial performance, operational growth and real progress with our strategic objective of building a differentiated, […]

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Uk unemployment has fallen to 4.5% in the three months to August.  New figures from the Office for National Statistics found unemployment to fall from 4.6%. Payroll figures surged to 29.2 million, which is back to pre-pandemic levels. Vacancies over the previous quarter hit record highs of 1.2 million. The number of vacancies soared highest in transport […]

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Royal Mail has announced plans to hire 20,000 seasonal workers from late October through to early January. Companies including Amazon, John Lewis and Morrisons are also carrying out a huge drive in temporary employment over the Christmas season. Of the new roles, 17,150 will be in the mail centre sorting. “Being part of delivering Christmas […]

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Hollywood Bowl has posted strong results over the summer as more people stayed in the UK for holidays. After reopening in May, the group said it was “well ahead” of expectations and sales over August jumped 50% compared to pre-pandemic levels in August 2019. Stephen Burns, chief executive of Hollywood Bowl Group, commented on the […]

The post Hollywood Bowl sees strong results thanks to rise in ‘staycations’ appeared first on UK Investor Magazine.

Ireland will be increasing corporation tax from 12.5% to 15%. The country will be signing up to a global tax reform for minimum rate internationals. Small and medium enterprises won’t be affected by the new rates. Its previously low tax rates led to both Facebook and Apple basing their headquarters in Ireland. Irish finance minister […]

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Nestle has said that it is experiencing supply chain disruption ahead of the Christmas period. Global bottlenecks and a shortage of HGV drivers have affected business, which will make it more difficult this year to make sure products are on shelves. Chief executive of Nestle, Mark Schneider, said: “Like other businesses, we are seeing some […]

The post Nestle is “working hard” to avoid supply chain disruption appeared first on UK Investor Magazine.

According to new figures from Halifax have showed that house prices have soared at the fastest rate in 15 years. House prices increased by 1.7% in September. The average house price in the UK is now £267,587. House prices in Scotland and Wales are growing faster than they are in England. House prices in Wales […]

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UK gas prices soared on Wednesday, hitting record highs. As a result, factories could be forced to close whilst households are likely to face higher bills. Vladimir Putin has said that Russia, the largest supplier to Europe of gas, will ease the crisis faced. This caused prices to fall from highs 350p per therm. Danni […]

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Tui has reported a surge in late summer holiday bookings. After a quieter summer due to travel restrictions, the group announced plans to raise 1.1 billion euros to reduce its debt. TUI’s chief executive, Fritz Joussen, said: “The capital increase will enable us to take a significant step closer to our goal of rapidly repaying […]

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US crude oil has hit a seven-year high on Wednesday morning amid rising demand. Brent Crude is now $83 per barrel, which is a three-year high whilst US crude hit $79.40 a barrel, which is the highest since 2014. The increase in oil prices is likely to drive up petrol prices. Simon Williams, the RAC’s […]

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Tesco profits have doubled in the first half of the years despite supply chain issues. The store’s profits jumped 107% to £1.1bn as coronavirus related costs fell and sales were up by 3% in the six months to 28 August. Tesco is expected to reach full-year profits of £2.6bn, which is £700m more than expected […]

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New results from Greggs have revealed a 3.5% increase for the third quarter despite the staffing and supply chain disruption. The bakery chain said on Tuesday that it will continue its plans for new store openings thanks to strong sales over the year. Greggs plans to open 150 new shops over 2021. Greggs said that […]

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New data has found new UK car registrations to plummet by 35% year-on-year this September due to global shortages of semiconductors. It’s the weakest September for 23 years – a time when car sales are usually strong as people often buy at this time of year to have the latest number plate. The Society of […]

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Heathrow has been hit with a £2bn loss as the Covid-19 pandemic has caused havoc on travel and borders. The number of passengers who passed through the airport last year slumped by 73% to 22.1m last year, which is the lowest number since 1975. Heathrow’s chief executive, John Holland-Kaye, remained positive following the prime minister’s […]

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Thanks to a surge in online shopping over the past year, Paypal reported a rise in Q4 profits. For the last three months of the year, the group’s profits increased by 209% to $1.6bn (£1.2bn). Revenues also surged by 22% to $6.1bn. Paypal added 73m net new active accounts and total payment volumes hit $936bn. […]

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Moonpig shares jumped 17% as the group joined the stock market on Tuesday, valuing the company at £1.4bn. The company placed 140m shares at an initial price of 350p. New investors will have a 14% stake in the greetings card company and retailer. “Now is the perfect time for us to bring the company to […]

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Alphabet, the Google parent company, beat estimates for the fourth quarter in 2020 thanks to strong ad spending over the holiday period. According to IBES data from Refinitiv, analysts expected revenues to come in at $53.13bn. Alphabet beat this and reported revenues of $56.9bn. The Alphabet advertising business, including YouTube, saw sales rise by 23% […]

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Jeff Bezos has announced plans to resign from Amazon this year. The chief executive and founder has said that he will be stepping down and instead will take on the roll of executive chair. The news came as the group released its latest financial results. In the final three months of the year, the group […]

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This January saw house prices fall for the first time in six months. The house price index from Nationwide reported a 0.3% fall in the average UK property price to £229,748. It is the first time that house prices have declined since June, which may be as a result of the upcoming end to the […]

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Hargreaves Lansdown has reported a rise in half-year profits. The retail investment company has seen a growth in younger clients. The group added 84,000 new clients over the past six months – many of whom are aged between 30 and 54. Stock trading volumes surged 123% in the second half of 2020, which led to […]

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‘Buy now pay later’ firms such as Klarna are set to come under government fire following the results of a report to be published on Tuesday by the former Financial Conduct Authority (FCA) interim chief executive Chris Woolard. Sky News reported that the sector will be coming under higher scrutiny after concerns that the company […]

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UK mortgage approvals hit the highest level since 2007 last year, as people took advantage of the stamp duty holiday. Over the course of 2020, mortgage approvals reached 818,500, which is up from the 789,100 approvals made in the year previously. New data from the Bank of England showed a surge in mortgage applications in […]

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Nintendo profits almost doubled last year as the group emerged as a winner of the pandemic. As more people are staying at home and playing games, the Video game giant saw profits surge from 196bn yen in 2019 to 376.6bn yen ($3.6bn) in 2020. Nine month sales increased by 37% to $13bn whilst sales of […]

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Ryanair has posted a €306m (£222.6m) loss for the last three months of 2020. In what the airline referred to as “the most challenging year in its history”, Ryanair saw passenger numbers plunge almost 80% to eight million. The €306m loss is compared to the €88m profits the group saw for the same period a […]

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GKN has announced plans to close a car parts factory in Birmingham, putting over 500 jobs at risk. The company has owned the site since the 1960s and the news of the closure comes following figures from the Society of Motor Manufacturers and Traders (SMMT) showing car production last year to be the lowest level […]

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Diageo shared a resilient performance in the six months to December, despite pub and bar closures. The Guinness and Smirnoff maker saw a slight decline in sales by just 5% in the period to £6.9bn, whilst global pre-tax profits were 10% lower at £2.2bn. Despite the Coronavirus restrictions and pub closures, Diageo said that strong sales […]

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The Novavax has shown a 89.3% effectiveness against Covid-19. Following phase three trials in the UK, the new vaccine also is found to be effective against the new variant of the virus discovered in the UK. The UK has ordered 60 million doses of the vaccine and it is expected to be distributed over the second […]

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Greatland Gold has shared an update on Newcrest’s drilling campaign at the Havieron deposit in the Paterson region of Western Australia. In addition, the precious and base metals exploration and development company reported on latest drill results, which confirmed the continuity of higher-grade mineralisation within the South East Crescent and Breccia. In an update, Greatland […]

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Facebook reported strong results for the fourth quarter ended 31 December. Thanks to increased ad spending by businesses, revenue at the social media giant jumped by £7bn from $21.08bn to $28.07bn. This was higher than expected by analysts, who estimated revenues of $26.44bn. As well as revenue, the number of users over the Facebook platforms […]

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Apple posted bumper trading in the last three months of 2020 as people bought plenty of gadgets over the Christmas period. For the quarter ended December 26 sales were up 21% to $111.44bn – beating analyst expectations of $103.28bn. Quarterly earnings per diluted share were up 35% to $1.68. International sales accounted for 64% of […]

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UK car production was down 29% and has fallen to its lowest level since 1984. Last year saw British car manufacturers produce a total of 921,000 cars. This is the first time that production has fallen to below a million since the depths of the 2009 financial crisis. The figures have meant that the industry […]

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Wynnstay shares are trading 2.67% higher after the group released a trading update for the year ended 31 October 2020. The group said that results were “resilient” in an unprecedented year of challenges. Revenue fell from £490.6m in 2019 to £431.4m due to commodity deflation and reduced volumes in certain traded commodities including grain. Pre-tax […]

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Paperchase has secured a rescue deal, which will save stores and protect jobs. The retailer is expected to announce details later on Wednesday, however, Sky News learnt that the rescue deal is Permira Debt Managers who is connected to its current private equity owners. Paperchase has been owned by private equity firm, Primary Capital, since […]

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ScS Group posted strong sales in the 26 weeks to 23 January. The sofa retailer saw gross sales jump 13.9% to £182.3m over the past six months – this is up from £160m a year earlier. ScS Group benefitted from a surge in sales over the lockdown period and the pent-up demand whilst stores were closed. […]

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Goldman Sachs chief executive, David Solomon, was hit with a $10m (£7.3m) pay cut after the bank’s involvement in Malaysia’s 1MDB scandal. Solomon’s salary for the year fell from $27.5m in 2019 down to £17.5m – a reduction of 36%. Following an investigation, it was found that Goldman Sachs bankers paid over $1.6bn in bribes […]

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Yu Group shares jumped 64.58% after the group released a strong trading update for the year ended 31 December 2020. The independent supplier of gas, electricity and water to the UK corporate sector said that despite the “inevitable challenge” of the pandemic, performance was ahead of expectations. In the second half of the year, Yu […]

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Saga has announced that it is in talks with lenders about its debt levels, causing shares to dip 1.51% on Tuesday morning. However, despite the negative impacts the business has seen throughout the pandemic, the cruise operator has reported a surge in bookings amid the vaccine rollout. Saga said that lenders have been “supportive” as […]

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Rolls-Royce shares plunged this morning after the group said that it expects flying hours to drop to 55% from 2019’s levels. The FTSE 100 firm saw shares drop 8.4% on the announcement, where it also said it expects to burn through £2bn in cash over the next year amid the continuing travel restrictions. In a trading […]

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Crest Nicholson has reported a £10.7m loss after tax, which is compared to last year’s £82.5m profit. Revenue at the housebuilder fell from £1.09bn to £677.9m amid the pandemic, however, the group has said that it will reinstate dividend payments this year as housing demand continues to bounce back. Crest Nicholson has repaid the £2.5m […]

The post Crest Nicholson reinstates dividend, despite loss appeared first on UK Investor Magazine.

Pub City Group posted a trading statement for the 52-week period to 27 December 2020, revealing a 57% plunge in sales. The pub chain, which owns 48 pubs across Southern England and Wales, saw sales fall from £60m to £25.7m amid the pandemic and Coronavirus restrictions. However, despite the drop in sales over 2020 Pub City Group is still […]

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Shell has announced plans to buy ubitricity – the German on-street electric car-charging company. The oil-giant is under growing pressure to cut its carbon emissions. Shell has set out plans for “green” forecourts, which includes electric charging and biofuels. The deal is expected to be completed by the end of the year and is a […]

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Pensana Rare Earths Plc has announced that it has submitted a planning application to establish rare earth processing facility at Saltend Chemicals Park, Yorkshire. Once constructed and in operation, the US$125m facility will create around 100 direct jobs and become one of the world’s largest producers of rare earth oxides, crucial components in the manufacture of […]

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Asos shares jumped on Monday morning as the online retailer confirmed it was in exclusive talks to buy the Topshop, Topman, Miss Selfridge and Hiit brands. After Sir Philip Green’s Arcadia Group fell into administration last year, there have been various discussions by retailers to buy the brands. Last week, Next ended talks to buy […]

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Boohoo has announced plans to buy the Debenhams website and brand in a £55m deal. The deal was announced this morning and whilst Boohoo is buying the brand’s name and website – it will not save the 118 department stores, which will all close down. The store closures could result in 12,000 job losses. Boohoo […]

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The Treasury’s Kickstart scheme has created 120,000 new jobs for young people. The scheme, which started last September, is open for 16 to 24-year-olds and sees companies offer six-month work placements where the wages are paid by the government and businesses are given £1,500 per work placement. Although a large number of jobs have been […]

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MySale Group shares rose almost 8% on Friday’s after the company shares a half year trading update. The retailer is trading ahead of management expectations at A$2.5m, which is an improvement of A$6,1m from the A$3.6m loss in the same period a year previously. Group revenues were A$63.3m, which is a 14% increase on the […]

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Over 150 London pubs, bars and restaurants closed permanently in 2020. As the pandemic has led to huge impacts in the sector, the number of venues dropped from 3,460 venues to 3,303 – a 4.5% drop. Closures over 2020 were approximately three times higher than closures in 2019. In addition to London, Birmingham and Leeds […]

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John Lewis has announced plans to repay £300m in government loans following strong Christmas trading. The department store will be paying the loan two months earlier than it was due to be repaid thanks to stronger than expected sales over the Christmas period. John Lewis said in a statement: “Despite the headwinds of the last […]

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Next has pulled out of plans to buy Arcadia’s Topshop. In a statement, the retailer said it had “withdrawn from the process to acquire any or all of the Arcadia Group from the administrator”, adding “our consortium has been unable to meet the price expectations of the vendor”. “Next wishes the administrator and future owners […]

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UK retail sales increased by 0.3% in December – much lower than the 1.2% rise expected by economists. New figures from the Office for National Statistics also showed that despite an online boom, retail sales fell 0.4% in the fourth quarter. Looking at 2020 as a whole, online sales boomed and hit record highs, however, […]

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Rishi Sunak is set to extend the government’s furlough scheme past the end of April. As the UK is likely to continue Covid restrictions into the summer months, Sunak is drawing up plans to continue the scheme. It was supposed to end October 2020. The chancellor is set to have a budget on 3 March […]

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Daily Mail & General Trust (DMGT) has posted a 15% fall in revenue in the three months to 31 December 2020. The owner of the Daily Mail and the Metro said revenue fell to £304m. Advertising revenues decreased by 16% and the group saw print advertising fall by 38%. Digital advertising increased by 8%. Looking […]

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Pets at Home has reported a 18% jump in revenue for the third quarter of 2020. Revenue surged to £302m whilst like-for-like sales seeing a 17.6% over the the 12 week period from 9 October to 31 December 2020 Based on trading year to date, the group expects full-year underlying pre-tax profits of £77m. Members […]

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The pound has hit an 8-month high against the Euro, hitting €1.132 for the first time since last May. The pound also hit a 32-month high against the dollar – up almost a cent today at $1.374. The markets are also trading at record highs today on anticipation of a major new US stimulus package. […]

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Just hours after being sworn in, Joe Biden is already hard at work reversing Donald Trump’s key policies. President Biden signed executive orders on issues included halting the travel ban from Muslim-majority countries as well as issues regarding Covid-19, climate change and construction of the wall between the US and Mexico. A statement from the […]

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Cruise operator Saga has said that all customers travelling this summer must be vaccinated. The over-50s travel firm has seen a spike in bookings since the vaccine began being rolled out. The group will require passengers to have both shots of the vaccine at least 14 days before travel as well as provide a negative […]

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Hornby shares fell on Wednesday after the group revealed a trading statement for the Christmas period. Group sales for the third quarter were up compared to the same period a year ago driven by a hugely popular product range and increased global demand as consumers spend more time at home. Tighter Covid restrictions and the […]

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Pearson shares rose on Wednesday after the group reported a rise in sales for the three months to the end of the year. In the final quarter of the year, the group returned to sales growth as sales picked up 4% thanks to strong growth in the online learning business. Pearson said it expects profits […]

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Burberry’s successful campaign with footballer Marcus Rashford has helped the luxury retailer ride out the pandemic. Despite a fall in “retail comparable store sales” for the three months to Boxing Day, the store saw “new, younger clientele” thanks to Rashford’s involvement with the brand. Sales remained week and were down 9% due to the fall […]

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UK inflation doubled in December, according to the Office for National Statistics. Despite a fall in food and drink prices, the cost of transport, recreation and culture rose in the run-up to Christmas. Prices were 0.3% higher than November and 0.6% up on the same period a year ago. The ONS said:  “Despite the travel […]

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Netflix added 8.5m paid subscribers in the four months to 31 December – significantly higher than analyst expectations of 6.1m. The streaming service saw strong trading as the world remained under lockdown restrictions. The group has a total of 203m paid subscribers across the world. Revenue increased from $5.5bn to $6.6bn (£4.8bn), higher then expectations […]

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HSBC has announced plans to close 82 branches as the group focuses more on online banking. The banking group has said that despite the closures, there will be minimal redundancies as staff will be redeployed to “suitable nearby locations”. It has not said how many jobs will be affected. The number of branches in the […]

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Deliveroo has appointed Lord Simon Wolfson to its board as a non-executive director. Lord Wolfson is the Next chief executive and started on the board this week ahead of the delivery service’s stock market floatation. Will Shu, founder and chief executive, said: “We are looking forward to working with him as we continue to innovate, […]

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Superdry shares fell 11% on Tuesday after the group warned over its future amid the pandemic. In the 11 weeks to 9 January, revenues fell 52% as stores closed amid new restrictions. In the six months to 24 October, the company posted a pre-tax loss of £18.9m, compared to the £4.2m loss a year previously. […]

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Centamin shares rose on Tuesday morning after the group posted a strong 2020 performance and a rise in revenue. Group revenue for the year rose 25% from $658.1m to $829m. Gold sales for the quarter dropped 42% as the group mined lower grade material. Martin Horgan, CEO of Centamin, said: “Today’s quarterly and subsequent full […]

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AO World reported a 67.2% surge in revenue after the group saw a strong demand in electrical sales over the Christmas period. The online electrical retailer saw revenue in the third quarter jump to £457.3m. Sales in Germany alone surged by 77% to €73.6m. AO World will invest in new staff and infrastructure to meet […]

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European car sales fell to a record low in 2020. Sales across the European Union fell 23.7%. Just 9.9m new vehicles were registered, which is down from the 13m new cars that were registered in 2019. The biggest fall was in Spain, where sales dropped by 32.3%. In Italy, sales fell ‐27.9% whilst in France […]

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CPP Group shares have surged almost 54% on Monday after the group shared a trading for the year ended 31 December 2020. The group said that trading in India had recovered well, which was “supported by the steady performance of our renewal portfolios in the UK and EU and a resilient performance in our Turkish […]

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BT shares fell over 2% on Monday morning after it was hit by a £600m compensation claim. Ofcom said that the telecoms operator had failed to compensate elderly customers who had been overcharged for their landlines for the past eight years. When Ofcom said that customers who only had landlines were being overcharged, BT reduced […]

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China’s economy is set to be the only major economy to have grown in 2020. However, the latest data has shown that the Chinese economy grew at 2.3%, which is the slowest rate since 1976 when the GDP shrunk by 1.6%. The growth in the economy did beat expectations by the International Monetary Fund, which […]

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The FTSE 100 opened lower this morning, down 0.2% to 6,725 points. Among the biggest fallers on the FTSE 100 were oil companies and airlines as oil prices fell and travel restrictions heightened. The new travel measures were announced by Boris Johnson last week, in an attempt to control the spread of the virus. The […]

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Everyone now arriving in the UK must have proof of a negative Covid-19 test to travel. In addition, all UK travel corridors have closed and everyone must quarantine on arrival for up to 10 days. The new measures were announced by Boris Johnson last week, in an attempt to control the spread of the virus. […]

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Babcock shares plunged on Friday after the group reviewed its contract profitability. Early indications of the review, carried out by PwC, suggest that the company could have “negative impacts on the balance sheet and/or income statement for current and/or future years”. The review, which aims to be finished in time for full-year results, showed that […]

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Leeds Group shares jumped 37.84% on Friday as the group share a trading update for the six months ended 30 November 2020. Even though the pandemic continues to have impacts, sales in the first six months of the financial year were higher than expected. Sales at Hemmers jumped to £15.59m (2019: £14,52) and KMR sales […]

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The Gym Group shares opened higher on Friday after the group shared a trading update for the year ended 31 December 2020. The company, which owns 184 low cost gyms, revealed total revenue to fall from £153.1m in 2019 to £80.5m as it lost 45% of the trading days in the year amid government restrictions. […]

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Boohoo sales surged 40% to £661m in the four months to 31 December. The group is seeing strong sales over the pandemic and more people turn to online shopping as high street stores close. The surge in sales is despite the poor working conditions for employees in the UK and abroad. An investigation by the […]

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The UK GDP fell 2.6% in November’s second national lockdown. In what could be the first step towards a double-dip recession, the economy was halted and the six consecutive months of growth have come to an end. Whilst the economy may have shrunk, it is not by as much as the 5.7% that economists had […]

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Online gambling firm, 888, has seen a growth in profits and revenues as betting shops remained closed during the pandemic. The group said today that they will beat profit and revenue expectations for last year thanks to the strong trading through 2019 and into 2020. In the six months to 30 June, group revenue soared […]

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Halfords has posted a 12% growth in sales over Q3, thanks to the boom in cycling over lockdown. The firm saw a 35% growth in the cycling department, whilst the cycling business Tredz grew by 53%. Due to tighter restrictions and people staying at home, the group’s motoring sales were down by 8.4%. Halfords, however, […]

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Tesco has posted an 8.1% rise in sales for the 6 weeks to 9 January 2021. As lockdown restrictions tightened over the festive period, the supermarket saw a surge in sales. Over the last nineteen weeks, online sales surged by 80%. Ken Murphy, Tesco’s chief executive, said: “We delivered a record Christmas across all of […]

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Touchstar shares soared 35% on Wednesday after the group posted a trading update for the year ended 31 December 2020. Cash generation remained strong and the group ended 2020 with a net cash position of £1.6m with £1.9m of cash in the bank at the year-end. This is up from £850,000 in 2019. Preliminary results […]

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Lidl revealed an 18% jump in revenue and record sales for the four weeks to 27 December. Sales soared over the Christmas period and the average basket size grew by almost 25% year-on-year as the discount supermarket sold 7,000 glasses of mulled wine and almost 17,000 deluxe mince pies every hour. Christian Härtnagel, Lidl GB […]

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Persimmon has reported “robust” trading during 2020, despite the impact of the pandemic. In a trading update, the house builder reported a jump in average weekly sales rate per site by 39% over the second half of the year.  Total group revenues were down from £3.65bn to £3.33bn. Persimmon chief executive Dean Finch said: ““Against […]

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Just Eat orders soared by an impressive 58% in the fourth quarter of 2020. The takeaway delivery group saw delivery orders in the UK jump by 387% in Q4 compared to the same period in 2019, as people spent the festive period at home amid tighter lockdown restrictions. Jitse Groen, chief executive of Just Eat […]

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Oil has continued its rally and has hit an 11-month high. The price of Brent Crude jumped 1% and is over $57 per barrel. The price is expected to pick up as demand surges once the vaccine rolls out and the pandemic comes to an end. The rally in oil price comes following reports that […]

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OnePlanetCapital has revealed plans to launch a specialist sustainability EIS Fund to invest in businesses tackling climate change. The sustainably driven investment house announced the plans as Prince Charles urges firms to do more to protect the planet. The fund is focused on climate change, the environment and consumer sustainability. OnePlanetCapital was founded in 2019 […]

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Deliveroo is expanding to 100 new cities and towns across the UK. Following strong demand over the past year, the food delivery service will lead to an additional 4m customers available for the app. Deliveroo already operates in 200 locations. The full list of expansion has not yet been shared, however, on the list is […]

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Robert Walters has posted a 24% fall in fourth-quarter profits. The recruitment firm revealed a fall in profits from £94.2m last year to £71.4m. Profits at the firm have fallen the past two consecutive quarters, where profits were down 34% and 30% respectively. Robert Walters operates in over 30 countries and said the current climate […]

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The Hut Group saw Q4 sales come in ahead of expectations, thanks to a 3.5m boost in new customers. Revenues in the three months to December 31 were up by 51% year-on-year, this was more than the expected 40-45% increase. Group revenue for the fourth quarter was £558.7m, up from last year’s £370.0m. Revenue was […]

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Kingfisher was a top riser on this morning’s FTSE 100, as the group posted a boom in online sales for the fourth quarter. In a trading update, the group said its full-year profits are likely to be at the upper end of expectations. Profits are expected to be around £667m-£742m for this year. Sales over […]

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Passenger numbers at Heathrow airport have plunged 75% in 2020, down to 22.1m. The number of people passing through the airport last year was 85m fewer than in 2019. In October, Heathrow was no longer deemed Europe’s largest airport and the drop in passengers led to Charles de Gaulle in Paris taking the title. The […]

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Dr Martens is planning its float on the London Stock Exchange, in what would be one of the first big public offerings of 2021. The iconic footwear retailer, which sells shoes in 60 countries across the world, is owned by Permira. In the year ending Mach 2020, the group saw revenues of £672m. In the […]

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JD Sports shares were up over 4% this morning after the group said that its profits will be ahead of market expectations. The retailer released a trading update for the Christmas period, where it said it expects pre-tax profits to come in at around £400m – this is much higher than the average forecasts of […]

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Bitcoin crashed over 10% on Monday morning to around $34,000. This comes after a recent surge where the price of the cryptocurrency doubled in just five weeks. As the price of Bitcoin drops, the FCA has issued a warning around investing in cryptocurrencies. It said: “Investing in cryptoassets, or investments and lending linked to them, […]

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It was another record-breaking day for Bitcoin as the cryptocurrency surged above $40,000 (£29,500) for the first time. Bitcoin has doubled in value over December as it hit the $20,000 mark halfway into the month. Its price has increased by more than 700% since March 2020. Naeem Aslam, the chief market analyst at AvaTrade, commented […]

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Reach shares soared on Friday morning as the publisher saw digital revenue in Q4 grow by 25%. The owner of Express, the Daily Star and other brands posted a strong digital performance and expects underlying operating profit for 2020 to between £130m to £135m. This is ahead of analyst consensus expectations which were £122m. The […]

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Barratt Developments was one of the top risers on this morning’s FTSE 100 surge in post-lockdown demand. The group upped its forecast of the number of houses it expects to sell this year thanks to the strong demand as people rush to complete sales before the stamp duty holiday ends. Following the first lockdown, sales […]

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Pets at Home shares surged on Friday morning after the group shared strong sales over the Christmas period and raised its full year profit guidance. Despite voluntarily repaying the £28.9m in business rates relief, the retailer expects profits for the year to come in at £77m. “While renewed Covid-related restrictions on a national level may […]

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Marks & Spencer (M&S) saw sales fall 8.2% in the three months to 26 December. In what would normally be a stronger season, clothing sales dropped 25.1% to £787m. In November alone, the group saw clothing sales plunge 40%. The M&S food court saw a better performance with sales up 2.2% to £1.7bn. International sales […]

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Ryanair will be cutting flights from the end of January in response to the latest lockdown measures. The budget airline said that “few, if any, flights being operated to/from Ireland or the UK from the end of Jan”. Ryanair said in a statement: “The WHO have previously confirmed that governments should do everything possible to […]

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Joules shares fell on Thursday morning after the group revealed a trading update for the seven-week period to 3 January 2021. Total online sales, including sales through the Friends of Joules digital marketplace, increased 66% year on year, which was driven by traffic growth and improved conversion rates across digital platforms. In-store sales fell by […]

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Mitchells & Butlers shares plunged on Thursday morning after the group revealed it is exploring a potential equity raise. The group said that it was looking at various options including raising money from investors amid the disruptions from the pandemic. For every month that pubs and restaurants are forced to close, Mitchells & Butlers lose […]

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Sainsbury’s has posted strong sales over the Christmas period thanks to the growth in online shopping. Like-for-like sales surged by 11% over the period, with sales in the supermarket’s premium Taste the Difference range growing by 11%. Premium champagne sales also increased by 52%. The supermarket has raised its profit guidance and has said that […]

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To tackle the rise in new cases, the government has said that travellers entering Europe may need to show a negative test on arrival. Boris Johnson said at a press conference on Tuesday that the government will be “bringing in measures to ensure that we test people coming into this country and prevent the virus […]

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UK car sales have slumped to the lowest level since 1992. New data from the Society of Motor Manufacturers and Traders (SMMT) revealed the biggest slump in new cars since the second world war – despite the rise in electric cars. Sales dropped by 29% to 1.63m. The main factor in the decline was the […]

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Informa shares rose on Wednesday as the group shared an update. Profits at the events group plunged over 70% in 2020 and profits are expected to fall from last year’s £933m down to somewhere between £250 and £270m. In 2019, the group posted a revenue of £2.9bn. This is expected to fall to £1.6bn in […]

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Greggs has said that it is expecting its first annual loss since 1984. As the pandemic has hit sales, revenues and closed stores, the group has said that it is forecasting a £15m loss for 2020. This is compared to the £108.3m profits made in 2019. Sales have plunged by £300m and for the 53 […]

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After an OPEC meeting where Saudi Arabia agreed to reduce oil output, the price of oil has hit an 11-month high. In February and March, the world’s largest oil producer will reduce output by one million barrels a day. Following the news, the price of Brent Crude was up almost 1% to $54.09 a barrel. […]

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Aldi reported a 10.6% rise in year-on-year sales in the four weeks to 24 December. As the UK faced lockdown restrictions, supermarkets saw a growth in sales as more people spent time at home over the festive season. Aldi is the UK’s fifth largest supermarket group. It reported a strong rise in alcohol sales and […]

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Paperchase is on the brink of administration as the majority of stores were forced to close over the Christmas period. The retailer, which has 127 stores and 1,500 employees, has filed a notice to appoint administrators from PwC. Whilst the group said that it had strong online sales, it was not “immune” to store closures […]

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The government has announced new grants for businesses in retail, hospitality and leisure. The news comes as the UK enters a new lockdown and businesses will have to remain closed until mid-February. The grants will be worth around £4bn and are expected to benefit over 600,000 business properties across the UK. Chancellor Rishi Sunak said: […]

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Morrisons shares (LON: MRW) opened higher on Tuesday after the group posted an 8.1% rise in like-for-like sales in the 22 weeks to the 3 January. Including fuel, the rise in sales was 1.9%. Strong demand over the festive period saw online sales triple as sales in salmon increased by 40%, champagne sales were up […]

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Next shares soared on Tuesday after the group posted a surge in online sales. Profits from better-than-expected sales over the Christmas period, however, are likely to be offset by losses faced over the next lockdown. In the nine weeks to 26 December, online sales were up by 36%. In-store sales within the UK tumbled by […]

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The FTSE 100 rose on Tuesday morning despite the UK entering another national lockdown. The blue-chip index was up almost 0.5% to 6,605 points. Top risers this morning was retailer Next, where shares shot up following a positive trading update. Fallers this morning included British Land (-2.3%), Land Securities (-2.2%), AB Foods (-1.6%), Polymetal International […]

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Red Rock Resources shares fell on Thursday after the group shared Final Audited Results for the year ended 30 June 2020. The group reported a pre-tax profit of £5.2m, which was up from the reported loss of £1.7m in the previous year. Red Rock said that they had mitigated the impacts of the pandemic and […]

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After raising its bid to £130m, Countrywide has accepted the takeover offer from Connells. Connells has won support from 51.03% of the group’s shareholders. When the deal is completed in the first three months of 2021 it will bring together brands, including Bairstow Eves and King & Chasemore, with Allen & Harris, Bagshaws Residential and […]

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Aldi has announced plans to spend £3.5bn more on UK-produced food products annually within the next five years. The discount supermarket’s decision will be a positive step for over 1,000 small businesses. The group has already shared plans to create an additional 4,000 jobs UK jobs. Aldi has over 900 stores and 36,000 employees. Chief […]

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The FTSE 100 is on track for its worst day of the year as it slides 1% at opening. The blue-chip index dropped 101 points to 6454 points and most stocks are in the red as they enter the New Year. The top faller today is British Airways owner, IAG, which was down 3%. Also […]

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Think tank Autonomy has released a report that says a four-day week would be affordable for most firms. The organisation is campaigning for four-day weeks without a loss in pay and has said most of the 50,000 firms it studied would be able to cope with the changes through higher productivity levels or raising prices. […]

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AstraZeneca shares (LON: AZN) jumped on the news that the vaccine developed with the University of Oxford has been approved for use. Shares in AstraZeneca were up 4% at 7,507.97 on Tuesday and are currently up almost 1% at 7,526.84 (1024GMT). First doses of the vaccine will be given as soon as Monday 4th. The […]

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According to the Nationwide House Price Index, house prices in 2020 grew at the fastest rate in six years. In December alone, the average price of a home increased by 0.8% and now costs £230,920 in the UK and £486,562 in London. Whilst the first lockdown stalled the housing market as viewings were banned, the […]

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Bitcoin has surged to a record high, surpassing $28,500. The cryptocurrency has gained over 5% today and 46% since the start of the month. The increase in Bitcoin comes as the US dollar slides to its lowest level since April 2018. Jeffrey Halley of OANDA commented: “It is clear that currency markets are pricing in […]

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According to reports, the EU and China are on a brink of agreeing to a trade and investment pact. The agreement will give EU firms improved access to the Chinese market. The deal comes soon after the UK’s post-Brexit trade agreement. An unnamed EU official told Reuters: “The talks are about to be concluded. It’s […]

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The Hut Group has spent over £300m on acquisitions as it continues expansion plans. The group bought US online skincare retailer Dermstore in a £259m deal as well as Claremont Ingredients and David Berryman for £59.5m. The Hut Group floated shares on the stock exchange in September and was valued at £6.8bn on Christmas Eve. […]

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New figures from Halifax have revealed the UK areas with the biggest rise in house prices. The average property in the London borough on Islington now costs £727,922, which is a rise of 13.4% in 2020. Of the top 20 risers in the UK, nine were in Greater London. House prices in Hounslow rose 9.1% […]

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Admiral has announced plans to sell Confused.com to Uswitch in a £500m deal. The deal is expected to be closed in the first half of 2021 and is subject to approval. David Stevens, the chief executive of Admiral Group, commented on the deal: “The purchase of the UK and European comparison businesses by RVU offers […]

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In the first trading session since the Brexit deal was confirmed, the FTSE 100 rose by 1.48% minutes after opening. Following the festive break, the blue-chip index went onto hit a 9-month high as it was up 160 points, or nearly 2.5%, at 6662 points. The FTSE 250 also rallied on opening and was 1.6% […]

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Car production fell by 1.4% in November. According to the Society of Motor Manufacturers and Traders, the number of cars made in November fell to 106,243. The trade body has said that the situation could worsen depending on the Brexit deal. In the 11 months to November, UK car production was down by 31% compared […]

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Lufthansa chartered a special cargo flight to airlift fruit and vegetables to the UK. The airline said it would fly 80 tonnes of food to Sheffield airport, where food would be distributed to supermarkets. “Lufthansa Cargo is currently examining whether additional special cargo flights can be offered during the next days. We are also checking […]

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Whitbread, the owner of Premier Inn, has asked landlords for a 50% rent reduction amid the Coronavirus crisis. As hotels were closed over lockdown, the group has suffered from a drop in revenues and large losses during the first half of 2020. Whitbread also owns Beefeater and Brewers Fayre brands. Earlier this year, the company […]

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The pound has soared against the dollar on rumours that a Brexit deal could be announced this morning. The pound has gained over three-quarters of a cent to around $1.357, which adds to yesterday’s gains on speculation that a Brexit deal was close. The pound is up 0.8% on the Euro, 1.27% on the dollar […]

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Immotion Group shares were over 15% higher after the group posted an increase in revenues for the end of year trading update. The Group launched Let’s Explore Oceans in mid-October, which led to revenues in November increase by 87% compared to pre-launch in September. Since the launch in mid-October 2020, sales of the product have […]

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Octopus Energy has been valued at over $2bn after completing a deal with Japanese utility company Tokyo Gas. The energy startup will be supplying electricity to homes in Japan. Under the deal, Tokyo Gas will buy a 9.7% stake in Octopus for $200m. Greg Jackson, the founder and chief executive of the energy company, said: […]

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The FTSE 100 was 0.15% in this morning’s trading. Travel stocks and shares in hospitality, however, edged up amid the hopes that the new Covid strain is slowing down. The top riser on the FTSE 100 was Airline group IAG, which was up 3%. Rolls Royce was 1.75% higher and hotel group Whitbread was up 2%. Shares in […]

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According to the property website, Zoopla, house prices in the UK are expected to finish 2020 on a high. Despite the recession, lockdown and economic downturn, the housing market has seen a boom and this year will see £62bn more in agreed sales than last year. Zoopla said that house prices rose by 3.9% in […]

The post Will house prices continue to rise in 2021? appeared first on UK Investor Magazine.

Bank of England interest rate-setter Andy Haldane has said that the UK government support should continue until the Coronavirus pandemic ends. In an interview with The Guardian, Haldane said that unemployment was “public enemy number one” and that the government should continue job support to prevent the unemployment rate creeping higher. Since the pandemic, unemployment […]

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Public sector net borrowing in November hit the third-highest since record began in 1993. Borrowing last month hit £31.6bn. Between April and November this year, public borrowing has reached a total of £240.9bn, £188.6bn more than in the same period a year earlier. Last month, Rishi Sunak said that the current rate of borrowing was “obviously […]

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Toyota has said that it will be stopping production at its British and French plants earlier than expected due to the Covid-19 border disruption. As France banned all freight or cargo from Britain for 48 hours, the group faced shortages of parts. As a result, the engine plant in Deeside in north Wales, the factory […]

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DFS shares surged on Tuesday’s opening after the group revealed a 19% increase in gross sales in the 24 weeks ending 15 December 2019. Despite the Covid-disruptions, the furniture retailer saw impressive growth in the online channel, where sales surged 76% compared to the same period a year ago. The group said in a statement […]

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The pound sterling plunged 2.2% this morning amid the Brexit transport chaos and fears of the new Coronavirus strain. As the prime minister put London and other regions into Tier 4 and tightened restrictions across Christmas, the pound plunged to a month-low.  The lack of progress in Brexit negotiations has also caused the pound to […]

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Universe Group shares (LON: UNG) were 11.27% lower on Monday as the group shared a trading update for the year to 31 December 2020. Revenues for the second half of the year are expected to be in line with revenues recorded for the first half of the year – depending on the roll-out of a […]

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Trident Royalties (LON: TRR) has announced its acquisition of three existing royalties over the Pukaqaqa Copper Project in Peru. The company said in an update that it had entered into a binding, conditional agreement with Bellatrix Ltd, a subsidiary of Orion Resource Partners, for a total consideration of US$3m worth of new Trident ordinary shares. […]

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The Evan’s brand, owned by Arcadia, has been sold to Australian-listed City Chic in a deal worth £23m. Following the collapse of Phillip Green’s Arcadia, the firm has brought Evans’ brand and wholesale business. The deal will not include any of the UK stores. Evans is a plus-size clothes and footwear retailer. Australia’s City Chic is […]

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The FTSE 100 plunged 1.8% in early trading and was down 117 points, to 6,410 points. Due to the lack of Brexit negotiations, the new strain of the virus and chaos around borders, the blue-chip index was down almost £33bn within minutes of opening on Monday. The biggest faller on the FTSE 100 this morning […]

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Last month saw Lombard Odier launch a Natural Capital strategy, allowing the opportunity to invest in public companies that focus on the regenerative power of nature; Natural Capital. According to the global wealth and asset manager, Natural Capital “will deliver strong growth and become the winners of the future.” The fund was developed by Lombard […]

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Lloyds Bank (LON: LLOY) has announced plans to scrap the staff bonus due to the plunge in profits over the pandemic. Despite returning to profit in the third quarter, the lender said on Friday that it would axe the bonus as pre-tax profit for the first nine months of the year is 85% lower. In […]

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Dignity shares (LON: DTY) opened 4.86% lower on Friday as the Competition and Markets Authority (CMA) has said that it has “serious concerns” about the funeral sector. The watchdog told funeral directors that they would need to provide much clearer pricing to customers after investigating the sector. Martin Coleman, a CMA panel inquiry chairman, said: […]

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Fulham Shore shares (LON: FUL) were 7.5% lower on Friday morning after the group swung into a loss for the six months ended 27 September 2020. The restaurant owner, which owns Franco Manca and The Real Greek restaurants, posted a £3.9m loss compared to a £0.4m profit for the same period a year previously. Revenue […]

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Openreach has announced plans to create 5,000 engineering jobs next year. The communications company will be employing thousands of new people as it rolls out next-generation full-fibre broadband across the UK. Around 2,500 of the roles will be at Openreach and a further 2,800 will be in its UK supply chain. The new roles will […]

The post Openreach to hire 5,000 for broadband rollout appeared first on UK Investor Magazine.

Retail sales fell 3.8% in November amid the lockdown. As the rates of Coronavirus rose and many high streets shut, November saw retail sales fall after six months of growth. New figures from the Office for National Statistics showed supermarkets and food stores post a sales surge of 3.1% and household goods were up by […]

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Upper Crust owner, SSP, has swung to a £425.8m in the year ended 30 September. As the pandemic hit sales and affected the travel food operator through a huge reduction in passenger numbers, the group’s profits fell from last year’s profits of £197.2m. Revenue plunged 47.9% to £1.43bn and like-for-like sales were down 50.8%. SSP […]

The post SSP swings to £423m loss but remains optimistic appeared first on UK Investor Magazine.

Safestyle shares (LON: SFE) surged almost 16% on Thursday as the group reported strong order intake growth and increased operational capacity. The group delivered 9% year on year revenue growth in Q3 and is expected to deliver c.20% revenue growth for Q4. Looking into next year, Safestyle remains confident and said they plan to “enter […]

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TalkTalk has confirmed a £1.1bn takeover deal by Toscafund and a private-equity investor. The deal means that the broadband provider will go private. Under the agreement, TalkTalk shareholders will receive 97p per share, which is a 16% premium on shares as of 7 October – when the offer was made. “Being a private company would […]

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Continued Brexit optimism has pushed shares higher on Thursday morning. The FTSE 100 was pushed up by 23 points to 6594. The FTSE 250 was 0.2% higher in early trading. Stocks also rose off the back of the US Federal Reserve’s announcement and promise to keep interest rates close to zero. European shares were also […]

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Bitcoin has surged to an all-time high of over $20,000. The cryptocurrency has surged 400% this year from $3,600 in March and rose 6% on Wednesday alone to hit $20,632 against the US dollar. The rally in Bitcoin comes after the cryptocurrency reached highs in 2017, hitting close to $20,000. By February it then crashed […]

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The FTSE and pound both jumped today on news that there was progress made in the latest Brexit talks. The FTSE 100 was up by 72 points or 1.1% to 6586 points, whilst the FTSE 250 index jumped 1.4%. The blue-chip index was pushed up by house builders, which were the top risers on Wednesday, […]

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The pound has jumped on the news that progress was being made in Brexit talks. European Commission president Ursula von der Leyen said this morning that there is a “path to an agreement now”, causing the pound to gain half a cent against the US dollar to over $1.35. “As things stand, I cannot tell […]

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Goodwin shares opened almost 12% lower on Wednesday after the group posted lower profits for the first half of the year. Profits were down from £7.4m to £5.8m in the six months ended 31 October. Revenue for the period was down 22% to £62.6m. Sales revenue was down 11% from last year to £62.62m. Goodwin […]

The post Goodwin profits slump amid “tough conditions” appeared first on UK Investor Magazine.

The Department for Transport has announced plans to hike rail fares by 2.6% in 2021. For the first time since 2013, the government has decided to raise fares above inflation. The decision comes amid campaigns to freeze fares to encourage people on public transport after the pandemic. During the first half of 2020, £3.5bn was […]

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UK inflation rate fell from 0.7% to 0.3% in November amid Black Friday sales. New figures from the Office for National Statistics (ONS) showed the dip in inflation rate and said it was due to retailers slashing the prices of clothing and footwear throughout the second wave of the pandemic. Whilst spending and prices would […]

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Chemring shares were over 10% up on Tuesday after the group posted strong results for the year ended 31 October. The aerospace and defence company posted a 20% increase in revenues to £402.5m and a 31% growth in underlying profit before tax to £51.7m. Chemring lifted its dividend and cut net debt thanks to good […]

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Greatland Gold has appointed Shaun Day as its new chief executive, sending shares up 2.3% to 33.2p. Shaun Day will succeed current chief executive, Gervaise Heddle, who is leaving the group to “pursue other interests”. Shaun Day will take up the position of chief executive and join the Board on 8 February 2021. Heddle will […]

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Purplebricks shares opened 16.53% higher after the group said in a trading update that it expected to beat full-year profit forecasts. The AIM-listed firm revealed Half Year Results for the six months ended 31 October 2020, where total fee income rose 6% to £49.1m, while instructions increased 8% to 35,387, and instructions had surged 20%. […]

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LoveHolidays will have to refund £18m to more than 40,000 customers amid Coronavirus disruptions. The group is one of the UK’s biggest online travel agents and was ordered by the Competition and Markets Authority to issue refunds after the holiday operator received hundreds of complaints from customers. Andrea Coscelli, chief executive of the CMA, said: […]

The post LoveHolidays to refund £18m to 40,000 customers appeared first on UK Investor Magazine.

Shaftesbury has posted a £700m loss after the group was hit by Coronavirus restrictions. The group, owns parts of Chinatown, Soho and Covent Garden, saw a dramatic reduction in footfall due to the lack of tourists and office workers coming into the centre. In the second half of the year, Shaftesbury only collected 53% of […]

The post Shaftesbury swings to £700m loss appeared first on UK Investor Magazine.

JD Sports has bought sportswear brand Shoe Palace in a deal worth $325m (£243.7m). On the news, shares in JD Sports (LON: JD) surged 5% as the group shares its plans to extend presence in California and other US states including Texas, Florida and Nevada. The deal is all in cash and the owner of […]

The post JD Sports shares surge on Shoe Palace deal appeared first on UK Investor Magazine.

The FTSE was in the red on Tuesday morning after new data showed record redundancies for the three months to October. The blue-chip index was down 0.3% as the Office for National Statistics revealed the UK’s unemployment rate was up to 4.9%. In the last quarter, unemployment hit 370,000. This is an increase of 241,000 […]

The post FTSE falls as unemployment hits new highs appeared first on UK Investor Magazine.

Following Boris Johnson and Ursula von der Leyen’s UK-EU trade talks on Sunday, the pound has risen nearly one and a half cents against the US dollar at $1.336 and nearly one eurocent at €1.1. As trade talks continue, there is relief that a deal could be in the progress od being made over the […]

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Airbnb shares more than doubled on Thursday on the company’s Wall Street debut, valuing the group at $100bn. Shares opened at $146, well ahead the initial public offering (IPO) price of $68. The stock soon after hit a high of $165 and marked the biggest US floatation of 2020. Brian Chesky, Airbnb’s chief executive officer, […]

The post Airbnb achieves biggest US flotation of 2020 appeared first on UK Investor Magazine.

Following the news that the likelihood of a no-deal Brexit is a “strong possibility”, the pound was down almost 0.4% against the euro to 1.091. European Commission president Ursula von der Leyen told EU leaders on Friday: “The probability of a no deal is higher than of a deal…To be seen by Sunday whether a […]

The post Sterling tumbles on no-deal Brexit risk appeared first on UK Investor Magazine.

The UK has signed free trade deals with Singapore and Vietnam. The deal with Singapore was announced on Thursday and covers a trade relationship worth over $22bn (£17bn) and is similar to the trade relationship the country currently has with the EU. The deal between the UK and Vietnam was concluded on Friday, just weeks […]

The post UK signs free trade deals with Singapore & Vietnam appeared first on UK Investor Magazine.

RWS Holdings shares opened 4.47% lower on Thursday after the group posted results for the year ended 30 September 2020. The provider of language services and language technology shared a 5.5% fall in adjusted profit before tax to £70.2m. The RWS Life Sciences division saw increased revenues of 6% to £69.5m, which was a record […]

The post RWS shares fall on full-year results appeared first on UK Investor Magazine.

Tui (LON: TUI) has sunk to a €3bn (£2.7bn) full-year loss. The holiday operator posted a 58% slide in revenues to €7.9bn (£7.2bn) amid the pandemic and warns it does not expect to return to normal trading levels until 2022. The company is raising its cost-cutting targets to €400m per year as winter bookings this […]

The post Tui sinks to €3bn loss appeared first on UK Investor Magazine.

Ocado (LON: OCDO) has posted a boom in sales over the nation’s second lockdown. The group has raised its full-year forecast as the retailer benefitted from the move to online shopping and saw sales surge 35% in the three months to 29 November. Retail revenue jumped to £579.6m and the average order spend across the […]

The post Ocado reports sales boom and “exceptional demand” appeared first on UK Investor Magazine.

The UK economy rose just 0.4% in October, according to new figures from the Office for National Statistics. As a second lockdown halted economic recovery and shutdown the hospitality sector, GDP growth fell from September’s 1.1%. The GDP is 7.9% lower than pre-pandemic levels and whilst October was the sixth consecutive month of growth, it […]

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The Sports Direct owner has raised the lower end of its annual forecast thanks to strong sales since the end of lockdown. The group is now expecting bottom end growth to be between 20% to 30%. Sports Direct traded well over the pandemic, despite having to close many stores. Leisure wear sales were boosted over […]

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SigmaRoc shares (LON: SRC) are trading over 5% higher on Wednesday after the group’s revenue surged by 78%. The construction materials group posted a rise in revenue to £114m for the 11 months to the end of 30 November 2020. Full year underlying results are expected to be ahead of current market expectations, commenting in […]

The post SigmaRoc Plc reveals “very strong” performance, shares rise appeared first on UK Investor Magazine.

The FTSE 100 is trading higher on Wednesday amid Brexit deal hopes, vaccine optimism and US stimulus talks. Although still 13% down for the year, the blue-chip index hit its highest level since early March today thanks to top risers including BP and Royal Dutch Shell. In Europe, stocks were also looking positive with Germany’s […]

The post FTSE 100 & pound see gains on vaccine and Brexit hopes appeared first on UK Investor Magazine.

British American Tobacco (LON: BATS) has raised its full-year revenue guidance. Previously, the group estimated a 3% fall in revenue. The expected fall in revenue is now 2.5%. Meanwhile, global cigarette and tobacco sales are expected to fall by a smaller 5%. Jack Bowles, the group’s chief executive, said in a statement: “We are transforming […]

The post British American Tobacco raises full-year revenue guidance appeared first on UK Investor Magazine.

Stagecoach Group profits plunged from to £65.9m last year to £5.4m in the six months to 31 October. The bus operator posted a fall in revenue from £800.2m to £454.6m, as the group was hit by the pandemic and the group was forced to close of regional bus and tram services. Since the initial lockdown, […]

The post Stagecoach shares rise as sales recover appeared first on UK Investor Magazine.

A group of leading tax experts and economists are calling on the government to launch a one-off wealth tax to raise money amid the Coronavirus pandemic. The Wealth Tax Commission has said that taxing the richest in society is the most fair and efficient way to respond to the impact of the pandemic and that […]

The post A one-off wealth tax could “transform lives” appeared first on UK Investor Magazine.

Coral Products shares were 31.46% higher on Monday after the group revealed its half yearly report for the six months ended 31 October 2020. The specialist in the design, manufacture and supply of plastic products reported a 2,064% growth in reported pre-tax profits from £25,000 to £541,000 in the six months to the end of […]

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Studio Retail Group shares opened almost 10% higher on Tuesday after the group revealed interim Results for the 26 weeks ended 25 September 2020. Group revenue surged 17.2% from £228.7m in 2019 to £268.0m, whilst pre-tax profit was up 199% from £5.0m to £15.0m. Active customer base at the group was up 15% in the […]

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Over £10.9bn was spent in-store and online on groceries in November, making in the biggest month ever for the UK grocery market. According to Kantar, grocery sales rose by 11.3% in the 12 weeks to 29 November as cafes, bars and restaurants were closed and people stayed at home. “Take-home grocery sales rose by 11.3% […]

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The FTSE 100 was lower this morning as markets remain subdued amid Brexit concerns. The blue-chip index was down 16 points or 0.25% at 6539 at the start of trading, dragged down by the top fallers Intercontinental Hotels is the top faller and HSBC. The FTSE 250 was down 0.1%. After slumping 0.2% at the start of […]

The post FTSE, pound and oil fall amid Brexit concerns appeared first on UK Investor Magazine.

EU-UK trade talks have resumed in an attempt to complete a post-Brexit trade deal. There are growing fears of a ‘no-deal’ Brexit by the end of the year, however, the UK government has insisted that there is “still time to reach an agreement”. Michel Barnier, the EU’s chief Brexit negotiator, said this morning: “EU-UK negotiations […]

The post Brexit: Pound falls on fears of a no-deal appeared first on UK Investor Magazine.

Countrywide shares (LON: CWD) soared 23% after Connells made a £112m cash offer. After its previous offer was rejected, estate agency group Connells upped its offer to 325p per share – increasing the offer from the previous 250p price. David Livesey, Group Chief Executive Officer of Connells, said: “Countrywide desperately needs a deliverable solution to […]

The post Countrywide shares rally on new Connells offer appeared first on UK Investor Magazine.

In the year to November, UK house prices soared by 7.5%. New figures from Halifax show that the average house price hit an average of £253,240 in November, which is the highest yearly increase since June 2016. As people are rushing to beat the stamp duty holiday and want more space, the housing market has […]

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Fraser Group has confirmed that it is in with Debenhams for a potential rescue deal. After the department store fell into administration last week, Mike Ashley’s Fraser Group said that it is in negotiations to rescue the retailer that employs 12,000 people. In a statement, the group said: “The Company confirms that it is in […]

The post Debenhams in rescue talks with Fraser Group appeared first on UK Investor Magazine.

Ted Baker (LON: TED) has reported deeper losses for the first half of the year. Operating losses before tax fell from £23m a year ago to £86.4m in the six months ended 8 August. Group revenue fell 45.9% to £169.5m whilst sales plunged 42.2% during the period to £124m amid the pandemic. The retailer has […]

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Pets at Home has become the latest retailer to announce plans to repay the government business rates relief. The retailer will be repaying the full £28.9m of rates relief after strong sales – despite the £35m of Covid related costs. Pets at Home will be joining a string of supermarkets including Tesco, Asda, and Sainsbury’s […]

The post Pets at Home to repay business rates relief appeared first on UK Investor Magazine.

New car sales fell by 27% in November to 42,800. The number of new car sales was down to levels not seen since the 2008 recession due to car room showrooms to close during the nationwide lockdown. “Compared with the spring lockdown, manufacturers, dealers and consumers were all better prepared to adjust to constrained trading […]

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The FTSE 100 has hit a nine-month high, gaining 40 points, or 0.6%, to 6,530 points in mid morning trade on Friday. It is the highest investors have seen the blue-chip index since the first week of March. The surge in the markets is sue to positivity surrounding the roll-out of the vaccine. “News that […]

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Shares in Berkeley Group Holdings (LON: BKG) opened 4% lower after the group shared unaudited interim results for the six months ended 31 October 2020. The group saw pre-tax profits plunge 16.6% from £276.7m to £230.8m and net cash fell from £1,113m to £954m. Revenue was down 3.8% to £895.9m. Highlights over the period included […]

The post Berkeley Group shares fall as profits plunge 16% appeared first on UK Investor Magazine.

The transport secretary has announced that “high value” business travellers will no longer have to isolate if they are returning to the UK from a country, not on the travel corridor list. The new rules are applied to bosses of foreign multinational firms and those planning to invest in order to allow “more travel to support […]

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Waitrose and the Co-op Group are facing growing pressure to repay the government business relief rates. Following the news this week that Tesco, Morrisons, Asda, Sainsbury’s and Aldi have all pledged to return the cash they received in the height of the pandemic, pressure on the remaining supermarket rivals has mounted. The Co-op has said that amid the […]

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Mirada shares (LON: MIRA) were down almost 12% on Thursday as the group shared interim results for the six months to 30 September 2020. The group reported a 4.5% fall in revenue from core activities to $5.47m due to the temporary reduction in investment in deployments by their largest customer amid the pandemic. As well […]

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Braveheart Investment Group shares have soared 56% on Thursday’s opening bell after the group revealed plans to pay a special dividend worth more than the current share price. The group shared interim results for the six months ended 30 September, which saw profit grow to £402,000 (2019: £122,000 loss) and revenues surge to £895,000 (2019:£250,000). The […]

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Since Tesco’s announcement on Wednesday to repay business rates reliefs to the government, a string on major supermarkets have followed its lead and pledged to do the same. Sainsbury’s, Aldi and Morrisons have all announced in the past 24 hours to return the full value of the business rate relief that the government provided during […]

The post Which supermarkets are returning business rates relief? appeared first on UK Investor Magazine.

Slack (NYSE: WORK) has been sold to Salesforce in a $27.7bn deal. Slack was founded in 2009 and has provided workplaces with an alternative to email. The purchase of Slack is the largest deal carried out by Salesforce. Salesforce CEO Marc Benioff said: “Stewart and his team have built one of the most beloved platforms […]

The post Slack sold to Salesforce in $27.7bn deal appeared first on UK Investor Magazine.

Tesco has announced plans to repay the £585m of business rates relief it received during the pandemic. The UK’s biggest supermarket revealed the news following pressure on supermarkets to do so. Supermarkets in the UK were criticised for not needing financial support as sales were boosted and profits increased. Most recent results at the supermarket […]

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Science in Sport shares (LON: SIS) opened 7% higher on Wednesday following a trading update for the current financial year, ending 31 December. The nutrition company said that business was performing well and to the end of November, total Online revenues were ahead 39% year on year at £23m. For the full year, online sales […]

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The FTSE 100 had a subdued start to the day despite news that the UK had approved the Pfizer/Biontech coronavirus vaccine. The blue-chip index opened in the red and after an hour was up 0.1%. Analysts have said that it is likely that because the pound is down 0.4% against the dollar and 0.5% against […]

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Michael Gove has confirmed that Britons will not be requiring a ‘vaccine passports’ to visit the pub, theatre or sport stadium. Speaking on Sky News, the senior minister confirmed that there would be no introduction of identification for those who have received the vaccine. “I certainly am not planning to introduce any vaccine passports, and […]

The post Michael Gove rules out “vaccine passports” appeared first on UK Investor Magazine.

Lastminute.com has agreed to pay over £7m in refunds following pressure from the Competition and Markets Authority (CMA). The watchdog ensured the holiday firm should refund over 9,000 customers after holidays were cancelled due to the Coronavirus pandemic. Following CMA intervention, the group has now signed formal commitments to pay these refunds as soon as […]

The post Lastminute.com to pay £7m in refunds appeared first on UK Investor Magazine.

Gooch & Housego shares (LON: GHH) surged almost 7% on Tuesday’s opening. The optical components and systems manufacturer demand for its products and capabilities had remained “robust” and it was set for a stronger second half. Despite this, the group reported a 30% decline in profit due to disruption at manufacturing sites amid the pandemic. […]

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Debenhams is on the brink of collapse after JD Sports pulled out of takeover talks. Following the collapse of Arcadia, JD Sports left rescue talks of the department store chain. Thousands of jobs are at risk after Debenhams collapsed into administration for the second time in April. In a statement to the City, JD Sports […]

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Sosander shares (LON: SOS) opened 2.53% lower on Tuesday morning after the group released its half-year trading update. For the six months ended 30 September, revenue surged 52% from £2.81m to £4.28m whilst gross profit grew by 48% to £2.24m. Monthly sales for September to November increased by 115% compared to the average for the […]

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In November UK house prices increased at the fastest rate since 2015. Figures from Nationwide showed that house prices in last month surged 6.5% average house price in the UK increased from £227,826 to £229,721. The housing market remained strong over the second lockdown and increased by a 5.8% growth in October. Thanks to the […]

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Lloyds Banking Group (LON: LLOY) has said that Charlie Nunn will be joining the group as the next chief executive. Current chief executive Antonio Horta-Osorio will be stepping down next year to replaced by Nunn, who has been at HSBC since 2011. Horta-Osorio said: “Charlie will find a warm welcome at Lloyds Banking Group and […]

The post Lloyds names new chief executive, shares edge up appeared first on UK Investor Magazine.

Arcadia Group could face collapse in the next few days putting 15,000 jobs at risk. Reported by Sky News, the group is preparing to appoint administrators from Deloitte. The collapse of the group will come following a number of failed attempts to secure emergency loans. The group, owned by the controversial Sir Philip Green, could […]

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Nicola Sturgeon is calling for a second Scottish referendum “in the earlier part” of her next term. Speaking to the BBC, she said: “I’ve not put a date on it yet. I have not ruled it out nor I have ruled it in. I think that is right not least because of the challenge the […]

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Tungsten Corporation shares (LON: TUNG) plummeted 20% on Friday’s opening after the group posted a trading update amid “challenging market conditions”. The group posted a decline in transaction volume by 8% and revenues and adjusted EBITDA would be impacted for the remainder of the financial year. Andrew Lemonofides, Tungsten’s Chief Executive, commented: “Tungsten has faced […]

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First Property shares (LON: FPO) were down over 5% on Thursday as the group reported a 30.2% drop in pre-tax profits. For the six months to 30 September 2020, the group reported a fall in profits from £3.0m to £2.1m. The group reduced net debt from £57.19m in March to £19.83 and also increased net […]

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TClarke PLC shares (LON: CTO) surged almost 13% on Thursday as the group released its latest trading statement. The group said in a statement that trading has been resilient and that trading continues in line with expectations for the full year ending 31 December 2020. TClarke PLC anticipates turnover for 2020 to be circa £240m. […]

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Mulberry shares (LON: MUL) opened higher after the group posted reduced half-year losses in twenty-six weeks ended 26 September 2020. In the latest trading update, the luxury retailer said that sales were hit by the most recent lockdown and fell by 19% in the eight weeks to October. As store closures and reduced demand amid […]

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Mitchells & Butlers (LON: MAB) said today that it has cut 1,300 jobs this year after the group reported a £123m pre-tax loss for the year to 26 September. The pub and bar operator, which owns chains including Toby Carvery, All Bar One, and Harvester. The group said that store closures and lower levels of […]

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House prices will likely fall early next year when the stamp duty holiday ends and the furlough scheme winds down. The Office for Budget Responsibility has said the current boom since the first lockdown will come to a close as the UK will see a spike in unemployment. “House prices fell briefly as the pandemic […]

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Calnex Solutions shares (LON: CLX) surged over 20% on Wednesday after the group revealed results for the six months ended 30 September 2020. The group reported strong demand over the period and saw revenue grow 37% whilst pre-tax profit increased by almost 69%. Due to the reduced travel and events costs amid the pandemic, Calnex […]

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Record Plc shares (LON: REC) were down over 2% on Tuesday after the group shared results for the six months ended 30 September 2020. The company posted a 4% growth in revenue to £11.8m – up from £11.4m in the same period a year earlier. In addition, the group posted growth in clients and a […]

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The FTSE 100 opened higher on Tuesday as markets continued to react well to the ongoing vaccine news. The FTSE 100 opened 55 points higher or 0.87% to 6389 in early trading, which was boosted by growth in travel stocks, energy companies and hospitality firms. In Europe, markets also opened higher. Germany’s DAX increased by […]

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Compass Group shares (LON: CPG) were up almost 5% on Tuesday morning after the group shares full-year results ending 30 September. After a “challenging” year for the group, the FTSE 100 firm returned to profit in Q4 thanks to mitigating costs, increasing liquidity, and strengthening the balance sheet. Revenue fell 18.8% from £24.8bn in 2019 […]

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Pets at Home (LON: PETS) has reported a total group revenue growth of 5.1% to £574.4m in the six months to October. Thanks to an “exceptional period of demand”, the group revealed a 4.2% jump in sales compared to the same period a year earlier. The FTSE 250 firm said in a trading update that […]

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Connells has confirmed a £82m takeover bid for Countrywide. The estate agent chain said on Monday morning that it would offer 250p per share in cash. David Livesey, Connells group chief executive, said: “Countrywide shareholders have repeatedly been promised jam tomorrow and it has never been delivered. “There is no quick and easy fix. Turning […]

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The price of oil has hit its highest level since early September. As markets are optimistic around the vaccine news, the demand for oil should continue to increase if the vaccine is rolled out. Brent crude is up 1.67% at $45.71 per barrel, which is the highest price in nearly three months. “Positive sentiment continues […]

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New office construction in central London has dropped by 50% in the past six months. The latest Deloitte Real Estate’s London Office Crane Survey showed a significant drop in demand in the Square Mile and was down by 60%. As the impact of the pandemic and people are staying at home, developers are keeping clear […]

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Daily Mail and General Trust (LON: DMGT) has posted a 50% drop in pre-tax profits to £72m. The owner of Daily Mail saw revenue down by 14% from last year to £1.2bn. Financial performance is “expected to reflect varying levels of impact from the Covid-19 pandemic and its economic consequences”, with insurance risk, US property […]

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Cake Box shares (LON: CBOX) have opened higher on Monday morning after the group posted a rise in revenue for the first half of the year. In the 20 weeks to 30 September revenue surged from £6.6m to £8.6m – a 30% rise. Gross margin has improved to 48.4% over the half-year. Despite all stores […]

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Fusion Antibodies shares (LON: FAB) plunged 16% on Friday morning’s opening after releasing a trading update for the six months ended 30 September 2020. In the period, revenue increased by 9% from £1.75m to £1.90m. The specialists in pre-clinical antibody discovery said that trading for the period had been in line with the expectations. Losses […]

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Nationwide reported a 17% rise in pretax profit to £361m. The lender had a resilient performance for the first half of the financial year, which was boosted by strong demand for buy-to-let mortgages. Chief financial officer, Chris Rhodes, commented: “It is pleasing to see the benefits of our conservative approach feed through into the results […]

The post Nationwide reports rise in profits on mortgage demand appeared first on UK Investor Magazine.

UK retail sales have grown for a sixth consecutive month in October. October saw retail sales grow by 1.2%, which was ahead of the 0% expected, according to the Office for National Statistics. Since February, retail sales have increased by 6.7%. Online sales have jumped by 52.8%, whilst in-store sales were down by 3.3%. “Despite […]

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The UK’s national debt has hit the highest rate since the 1960s. Recent figures from the Office for National Statistics show that Britain borrowed £22.3bn in October, which is £10.8bn more than a year ago. The ONS said: “The extra funding required to support government coronavirus support schemes combined with reduced cash receipts and a […]

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Sage has reported an 8.5% rise in revenue to £1.6bn. The software company also saw subscription growth rise by 20.5% to £1.1bn. Operating profit was down 3.7% from £406m to £391m in the year ended 30 September 2020. The growth in revenue was mainly thanks to the growing demand and number of new customers in […]

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Halma shares (LON: HLMA) opened almost 2% higher on Thursday after the group revealed a “resilient performance” for the six months ended 30 September 2020. Revenue and adjusted profit before tax for the period was down 5% to £618mln and £122mln respectively. The group has raised its dividend by 5% to 6.87p per share. Despite […]

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Investec shares (LON: INVP) were down over 7% on Thursday as the group revealed a 24% in revenues. The group described “reduced economic activity and increased market volatility” amid the Covid-19 backdrop. Adjusted operating profit was down 48.4% to £142.5m – from £276.3m a year previously. Investec has declared an interim dividend of 5.5p. Fani […]

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Naked Wines (LON: WINE) has reported an 80% surge in sales for the first half of the year. The company revealed a rise in sales from £87.5m to £157.1m as more people ordered wine home amid the restrictions. The listed company has raised full-year sales forecast and expects full-year sales increase to be between 55 […]

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The FTSE 100 opened 47 points lower on Thursday morning amid rising Coronavirus cases. Despite the vaccine positivity this week, which has led to rises in the blue-chip index, investors are becoming aware that it might not become available until after winter. It wasn’t just the FTSE that slumped this morning. European markets were also […]

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Royal Mail (LON: RMG) has revealed a collapse in profits for the first half of 2020. Pre-tax profits plunged by 90.2% to £17m. However, the group is remaining positive and has said that expected full-year revenues could be between £380m and £580m higher than previously projected. If revenues come in at the upper end of […]

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British Land shares (LON: BLND) were down on Wednesday after the group revealed a loss and a reduced dividend. For the half-year to September 30, the group posted a pretax loss of £757m, which widened from the £440m loss posted in the same period a year previously. Revenues at the group were also lower, falling […]

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As global markets continue to be gripped by the Coronavirus pandemic, the recent US election also had its part to play in the recent volatility. The strung-out election week saw US big tech stocks surge, which helped to see Nasdaq bounce over 6%, while the Dow Jones hiked up by around 3.5% amid the results. […]

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Micro Focus shares (LON: MCRO) surged over 20% as the group confirmed that earnings margins for FY20 will be “towards the upper end of management expectations”. In a trading statement, the software group said revenue declined by approximately 9% compared to the second half of the previous year. This is an improvement in the revenue […]

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UK inflation has edged up to 0.7% in October. The inflation rose from 0.5% in September and was pushed up by rising clothing prices, food, and second-hand cars. Clothing prices rose by 2.8%, whilst the price of food increased by 0.1% between September and October. Jonathan Athow from the Office for National Statistics said: “The […]

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Halfords shares (LON: HFD) surged on Wednesday’s opening bell after the group released a strong trading update for the 26 weeks to 2 October 2020. The group posted a 101% rise in pre-tax profit in the first half of the year to £56m, as the group saw strong demand amid the lockdown cycling boom. like-for-like […]

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Boohoo (LON: BOO) has announced Shaun McCabe to be the new independent non-executive director. Currently the chief financial officer at Trainline and the non-executive director at AO World, McCabe will join the fast-fashion retailer to improve governance issues. Boohoo is working on issues following the scandal on poor working conditions at a factory in Leicester. […]

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Airbnb has revealed a $697m (£527m) loss for the nine months to the end of September. The loss has widened from the $323m loss that was posted for the same period a year earlier. Over the third quarter, the group posted revenues of $1.3bn which was down 18%. Airbnb said: “The recovery in the second […]

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Imperial Brands shares (LON: IMB) were up over 3.5% on Tuesday after the group full-year results for the year ended 30 September 2020. The tobacco company forecast better profits for 2021 as the group expects stronger demand in its e-cigarette business, which decline in 2020 amid certain US bans. The group reported an increase in […]

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Homeserve shares (LON: HSV) were up on Tuesday morning after the group reported strong first-half results. The FTSE 100 company posted a 17% increase in revenue from £457.7m to £536.7m. Statutory profit before tax, however, fell 49% to £10.1m. Richard Harpin, the founder and chief executive, commented: “What HomeServe stands for – making home repairs […]

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Easyjet (LON: EZJ) has posted its first-ever full-year loss, sinking £1.2bn into the red. For the year ending 30 September, the budget airline saw passenger numbers half from 96.1m to 48.1m amid travel restrictions and social distancing measures. Easyjet also said that it will only fly at 20% capacity for the first quarter of the […]

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Kainos shares (LON: KNOS) were up over 4% after the group released a trading statement for the six months ended 30 September. The IT provider reported a 23% growth in revenue from £86.9m to £107.2m. Pre-tax profit surged 100% from £12m to £24m. The group said it had a “very strong performance” during the pandemic […]

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According to new data from Rightmove, housing prices in the UK are taking a dip from their record highs. As sellers rush ahead of the stamp duty deadline, the property website found a 0.5% fall from October’s average asking price of £323,000. Since Rishi Sunak introduced the stamp duty holiday over summer, the housing market […]

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Vodafone shares (LON: VOD) surged on Monday’s opening after the group described a “resilient” financial performance during the first half of the year. Group revenue declined by 2.3% to €21.4bn amid lower revenue from roaming, visitors and handset sales. The mobile firm says that on the back of its half-year results, it has “increased confidence” […]

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The FTSE 100 rose on Monday’s opening bell thanks to the weekend’s positive vaccine news. The blue-chip index climbed 0.6% to 6,357 points as it was boosted by top risers IAG, Rolls Royce, and Standard Chartered. HSBC, Barclays, Natwest, and Lloyds also rose significantly this morning. The FTSE 250 also picked up on Monday thanks […]

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Arcadia could be taking out a £30m loan to deal with the impact of the second lockdown. According to Sky News, the retail empire which owns brands including Topshop and Dorothy Perkins, has been hit hard by the pandemic and could be on the brink of administration. A spokesperson told the Sunday Times it was […]

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Galliford Try (LON: GFRD) revealed an “excellent” start to the financial year and expects to return to profitability in the first half. Amid the first lockdown, the construction group faced major disruption as sites shut and projects were delayed to adhere to social distancing measures. Productivity now continues at normal levels and since July, all […]

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Castings shares (LON: CGS) fell on Friday as the group swung to an interim loss. In the group’s half-year report, the metals fabricator reported a loss before tax of £0.63m – compared to the £7.34m profit a year earlier. The company said in a statement that demand had been “significantly impacted” amid the pandemic. Output […]

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European stocks continue to fall on Friday as excitement over the Covid-19 vaccine falls. Shares started to wane yesterday and on Friday’s opening bell, started to fall further into the red as Coronavirus cases across the UK rise. “With the worst of the cold weather yet to arrive and the pace of new infections only […]

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New figures suggest that the London job market is falling behind the rest of the country. The Recruitment & Employment Confederation (REC) revealed on Friday that whilst job advertisements were rising in the north-west England and Wales, London was seeing a fall. Between March and October, job adverts in the north-west jumped 36.8% whilst in […]

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QinetiQ shares (LON: QQ) opened 10.86% higher on Thursday as the group released a trading statement for the for six months to 30 September 2020. The group posted a 37% increase in orders and a 24% growth in revenue. Thanks to a strong performance, the defence technology company reported a “strong” cash performance, with 134% […]

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National Express (LON: NEX) has reported improving revenue between the first and second lockdown. In its latest trading update, the FTSE 250 company said that October’s revenue was 60% higher than in April. The group has been operating and roughly half of its services and in November amid the second lockdown is operating just 9% […]

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Vistry (LON: VTY) has announced plans to continue shareholder payouts from next year. Thanks to strong demand and sales, the housebuilder is on track to meet full-year profit at the top end of the £130m-£140m range. The group has achieved a private sales rate of 0.67 per outlet per week, which is up from 0.58 […]

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Burberry (LON: BRBY) has posted a 62% fall in pre-tax profits for the six months ending 26 September 2020. The luxury retailer revealed a 31% decline in revenue and adjusted operating profit down 75%. Sales were down 31% to £878m, whilst first-half pretax profits fell from £193m to £73m. The retailer noted that despite the […]

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B&M (LON: BME) has reported a 95% rise in first-half core earnings for the six months to 26 September. The high street discounter saw profits soar over the lockdown and posted a 25.3% increase in revenue to £2.24bn. B&M has adjusted its earnings before interest, tax, depreciation, and amortisation to £295.6m. The group has closed […]

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WH Smith (LON: SMWH) has posted a pre-tax loss of £280m and scrapped its dividend. The retailer posted a 33% fall in revenue in the year to the end of August to £1bn. WH Smith said on Thursday that it plans to close another 25 shops after the group swung to a loss from a […]

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The UK’s GDP surged by 15.5% in the third quarter, hitting record-breaking Q3 growth. According to the Office for National Statistics, the growth is the largest quarterly growth ever recorded. Despite the record growth, the GDP has still missed expectations and continues to be 9.7% less than before the pandemic. The surge in the economy […]

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Shares in Flutter Entertainment (LON: FLTR) were up over 5% on Wednesday after it posted strong Q3 results. The group, which owns Betfair and Paddy Power, posted a 32% increase in sports betting revenues whilst gaming revenues rose 21%. In Australia, revenue soared 76%. Flutter Entertainment posted a better-than-forecast new customer acquisition of over 450,000 […]

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Stock markets across Europe are continuing to rise on the back of Monday’s vaccine hopes. London’s FTSE has gained over 7% this week and this afternoon was up 62 points at 6358. Contributing to this rise was IAG shares (LON: IAG), which were up 7% at 147,05. Other risers on Wednesday included Kingfisher and Ocado, […]

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Renold shares (LON: RNO) surged 6.42% on Wednesday after the group reported resilient margin performance and strong cash generation. For the half-year ended 30 September 2020, the group revealed a fall in revenue from £98.2m a year ago to £81.5m. Pre-tax profit fell from £3.5m to £2.8m. Renold has a new factory in China, which […]

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Workspace shares (LON: WKP) were down 3.24% on Wednesday after the group shared its half-year results for the period to 30 September 2020. Despite the challenging operating environment amid the pandemic, the group shared results that showed “resilience” thanks to its flexible customer-focused offering and freehold ownership model. In the six months to the end […]

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The FTSE 100 opened 32 points higher on Wednesday, hitting 6328 points. Shares in the FTSE 100 that surged following the vaccine news saw a dip, whilst companies that fell following the news have gained points. Rolls-Royce was down by 4% on Wednesday morning to 103,15, whilst InterContinental slumped 3.1%. In contrast, shares in Kingfisher […]

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Wetherspoons (LON: JDW) has reported a 27.6% fall in sales amid new Coronavirus restrictions. The pub-chain blamed the government for the new restrictions, which it said were “baffling and confusing”. Chairman Tim Martin called the rules, including the 10 pm curfew and use of face masks when moving inside pubs “a complete muddle.” “However, the […]

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Landsec (LON: LAND) has said that the demand for London office space remains strong despite more people working from home. The property company wrote almost £1bn a billion off the value of its portfolio to £11.8bn – but chief executive Mark Allan remains confident of demand. In the six months to 30 September, Landsec made […]

The post Landsec posts £835m loss – CEO remains confident appeared first on UK Investor Magazine.

Arena Events Group Plc shares (LON: ARE) opened 24.55% higher after the group released a trading update for the six months ended 30 September 2020. Due to Corona restrictions and the ban on mass gatherings, revenue fell from £88.3m in 2019 to £42.8m. Gross profit fell from £24.9m to £14.8m. Despite the tough trading environment, […]

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Persimmon (LON: PSN) revealed in its latest trading update that it plans to a second interim dividend thanks to strong trading. The housebuilder plans to pay an interim dividend of 70p per share in December after the group resilient demand for new homes and secured £1.4bn of sales for future years. In the period between […]

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New figures from the Office for National Statistics (ONS) have shown unemployment levels to reach a four-year high. As redundancies hit record highs, the UK’s unemployment level has jumped to 4.8% in the three months to September – the highest level since 2016. The ONS said: “For July to September 2020, an estimated 1.62 million […]

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Premier Foods (LON: PFD) has raised its profit outlook for the full year as it expects higher demand amid new restrictions. The food manufacturer, which owns brands including Mr Kipling and Bisto, reported a pre-tax profit of 35.5% to £50.5m and a 15% increase in revenue. to £421.5m. The jump in profits in revenue was […]

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Pfizer and BioNTech have announced that their coronavirus vaccine was 90% effective in tests, which has caused global shares to surge. The drug companies have said that the vaccine was “found to be more than 90% effective in preventing Covid-19 in participants without evidence of prior Sars-CoV-2 infection in the first interim efficacy analysis.” The […]

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One Media IP Group shares (LON: OMIP) opened 15% higher on Monday morning. The group said in a trading update that it will continue to trade in line with expectations. One Media IP Group expects to report revenues for the year of around £4mn and earnings of £1.4mn, which is an increase of 14% and […]

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Dignity Plc (LON: DTY) has reported a 4% increase in revenue this year amid the Coronavirus pandemic. In the 39 weeks to the end of September, the funeral provider saw revenue grow from £225.4m to £234.5m. The increase in revenue reflects the higher number of deaths amid the pandemic. In the first three-quarters of 2019, […]

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Countrywide shares (LON: CWD) jumped 42% on Monday as the group enters talks with rival estate agency Connells for a takeover bid. The company said on Monday that Connells had made an offer of 250p per share – an increase of last week’s closing price of 140p. Countrywide has given Connells a deadline of 7 […]

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Taylor Wimpey (LON: TW) shares surged on Monday morning as the housing market continues to be resilient after reopening after the second quarter shutdown. The FTSE 100 housebuilder has said that it expects this year’s financial results to be at the upper end of expectations and remains confident about next year. Since the lockdown in […]

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Monday morning saw the global stocks jump as investors welcomed the US Presidential election win. The blue-chip index climbed 94 points, or 1.6%, to 6004 points on Joe Biden and Kamala Harris’ victory over the weekend. It wasn’t just stocks in London that rose on the back of the news. Japan’s Nikkei stock surged 2% […]

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The Co-operative Bank has released a third-quarter trading update, revealing a “resilient performance in a challenging environment.” The lender posted a pre-tax loss of £23.5m, which was a sharp improvement from the £80.1m for the same period a year ago. Whilst losses improved, the Co-op bank is still deep in the red amid the pandemic. […]

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Deloitte has been fined £362,500 by the Financial Reporting Council (FRC) after the company failed to relate to the audit of a former client’s defined benefit pension scheme. Deloitte did not ensure that the work carried out by the Engagement Quality Control Review (EQCR) was properly documented. The FRC also said that the company did […]

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The National Audit Office (NAO) has published an 85-page report, highlighting the government’s failure to prepare post-Brexit borders. Whitehall’s spending watchdog slammed the UK government for failing to prepare for Brexit and the impact this will have on for British businesses. “Some of this uncertainty could have been avoided, and better preparations made, had the […]

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House prices in the UK have increased at their fasted rate since 2016. In October, house prices jumped 7.5% according to data from Halifax. The average property now costs £250,457. On a month-by-month basis, prices increased just 0.3% between September and October. Despite the growth this year, Russell Galley, Managing Director at Halifax, has warned […]

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EasyJet (LON: EZJ) has said that it will only run 20% of planned fights for the remainder of 2020. The budget-airline made the announcement as the UK has entered a second lockdown and travel restrictions urge people not to holiday within the UK and abroad until 2 December. “EasyJet now expects to fly no more […]

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The bread brand Hovis has been sold to Endless for an undisclosed sum. Following talks, Endless acquired the brand after Newlat Food issued a statement saying that they had withdrawn themselves from the bidding war. Owned by Premier Foods (LON: PFD) and US investment firm, Gores Group, Hovis is a 134-year old firm that employs […]

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Nintendo has seen profits soar in the six months to the end of September. The Japanese tech giant saw a surge in demand over lockdown and saw sales triple from 94bn yen to 291.4bn yen (£2.1bn). Nintendo said previously that it expects 19 million consoles to be sold in the year to March 2021, however, […]

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The furlough scheme will be extended until the end of March. Rishi Sunak said in the House of Commons on Thursday that the government will continue to pay 80% of wages as the UK enters a second lockdown. “We can announce today that the furlough scheme will not be extended for one month, it will […]

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AstraZeneca (LON: AZN) has revealed a rise in sales and revenue for the year to date. The pharma giant said in its latest trading update that sales had grown 9% to $18,879m whilst overall revenue had increased 8% compared to the year previously. Pascal Soriot, the chief executive, commented: “We made encouraging headway in the […]

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The Works shares (LON: WRKS) have soared on Thursday morning after the group hailed strong post-lockdown trading. For the 19 weeks ended 25 October 2020, excluding the lockdown, like-for-like sales increased by 10.6%. Including the lockdown when all stores were closed, sales fell by 7%. “We have been encouraged by the performance during the period, […]

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The Bank of England (BoE) has said that it will be injecting £150bn into the economy as an attempt to ease the UK into the second lockdown. In the last three months of the year, the BoE has said it expects the economy to shrink down to 2%, however, will then bounce back in the […]

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Sainsbury’s (LON: SBRY) has announced plans to cut 3,500 jobs. The supermarket will closes meat, fish and deli counters as well as 420 standalone Argos stores. The news came as Sainsbury’s posted a pretax loss of £137m for the six months ended 19 September. This loss is down from a £9m profit a year earlier. […]

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Wizz Air (LON: WIZZ) has reported a €243.1m (£219m) for the six months ended 30 September 2020. The budget airline carrier had a 70% plunge in passengers in the period, down from 22.1 million for the same six months the previous year. Revenue at the group also fell by 71.8% from €1,670.8m to €471.2. József […]

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Morgan Sindall shares (LON: MGNS) surged on Wednesday as the firm told investors it was expected to beat profit ranges for this year. In the latest trading update, the group said that revenue and margin are both “well ahead” of last year. Morgan Sindall is in the process of repaying the government for the furlough […]

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