World-leading shipping broker Clarkson (LON:CKN) reported a significant drop in profits for both the full year and the half year, citing the shipping industry’s “challenging environment” as the main cause. Figures are now expected to be materially below expectations, as lower freight rates within the tanker market and a fall in the value of the US Dollar contributed to a weaker than expected performance. “The challenging environment in shipping and offshore capital markets has led to transactions being pushed back within the financial segment and has compounded a quiet period in sale and purchase activity for the group across shipping and offshore,” the firm said. Shares in Clarkson (LON:CKN) dived on the news, currently trading down 26.89 percent at 2,270.00 (0933GMT).

Troubled outsourcing company Capita (LON:CPI) launched a £701 million rights issue on Monday, in the hope of “transforming” the group with sustainable capital. The outsourcing giant have issued a series of profit warnings in the last few months, losing around two thirds of its around £1 billion market value with investors worried that the company may be close to failure. Losses continued to widen in the year to end of December, before the company announced plans for a £700 million rights issue. The rights issue launched on Monday, and will form a key component of a transformation plan to “provide Capita with a sustainable capital base to support its clients and operations.” Capita also reported substantially widening losses, from £89.8 million a year ago to £513.1 million now. However, underlying profit rose 43 percent to £383 million. Performance was had been hit by £850.7 million of specific non-underlying items, including £551.6m goodwill impairment and a number of other asset impairments and provisions. The firm said underlying pre-tax profits were on track for between £270 million and £300 million for the year ending 31 December 2018. Revenue also fell by by 3.1 percent, with underlying revenue down by 4.3 percent to £4,167.9 million. Net debt increased to £1,117.0 million from £1,778.8 million the year before, while adjusted net debt fell to £1,219.4 million from £1,809.3 million. Shares in Capita (LON:CPI) are currently up 12.45 percent at 179.70 (0922GMT).

Petra Diamonds (LON:PDL) reported an impressive boost to third-quarter revenue on Monday, after production spiked in the first three months of the year. Revenue for the period rose by 44 percent after the produced and sold more precious stones. The key figure hit $172 million, after selling 1,373,771 carats. Production too witnessed a rise, up 20 percent to a record quarterly volume of 1,194,947 carats. “Petra has recorded strong results in both production and sales, as well as a continued improvement in our safety performance,” chief executive Johan Dippenaar said. “It is also important to note that the make-up of our production is transforming, with higher-value run-of-mine production representing around 82 percent of our carat volume. The future focus of the company will move away from volume targets to value optimisation.” “While we are very encouraged by the operational delivery against our long-term expansion plans, risks to performance continue to relate to increased volatility in the ZAR/US$ exchange rate, grade and pricing variability at Cullinan, as well as the outlook for Williamson and the blocked diamond parcel.” The announcement comes just two weeks after the London-based miner announced the finalisation of an agreement with its lenders for a waiver of its December 2017 debt covenant and a resetting of debt agreements for this year. “The finalization of this agreement with our Lender Group validates its support of Petra’s business and strategy, as we negotiate this final stretch of our expansion programs,” Dippenaar said in the statement at the time.

Bonmarche (LON:BON) has become the latest retailer to blame weak results on the High Street crisis, reporting an 11 percent drop in sales for the three months to March. Like-for-like store sales dropped 11.1 per cent, bringing its full year average to a decline of 4.5 per cent. Online sales saw a significant boost, however, rising 34.5 per cent over the year, but the weight of poor high street sales meant overall comparable sales were down 1.5 per cent. “As anticipated, trading conditions in the final quarter of our financial year remained challenging and, against this backdrop, I am pleased that we have delivered an increase in the FY18 profit before tax compared to last year,” said Helen Connolly, Chief Executive Officer of Bonmarche. However, the group confirmed that its full year expectations remained in line with expectations. Shares in Bonmarche are currently trading down 6.08 percent at 85.00 (0828GMT).

Reckitt Benckiser (LON:RB) shares sunk nearly 5 percent at market open, after reporting solid sales and revenue growth in the first quarter. Sales in the first three months of the financial year rose 23 percent, assisted by currency fluctuations and acquisitions. Acquisitions included Mead Johnson Nutrition, an infant formula business bought by the company last year, which reported revenue growth of 3 percent. Sales at Reckitt Benckiser rose to £3.11 million, increasing by 2 percent on a like-for-like basis. The company confirmed annual guidance for a 13-14 percent rise in sales, representing like-for-like growth of 2-3 percent. “A solid start overall in the first quarter, operating under our new organisational structure,” chief executive Rakesh Kapoor said. “Our priority remains organic growth under our new focussed organisation structure. The integration of MJN is going well.” Earlier this week Reckitt Benckiser shares fell after analysts warned that the consumer goods giant has tried to compensate for its stalling sales growth by upping prices faster than the competition. Shares in Reckitt Benckiser are currently trading down 4.93 percent at 5,501.00 (0813GMT).

Multi-utility supplier Telecom Plus reported a modest increase in full-year profits on Thursday, sending shares up nearly 2 percent. The group, which trades as Utility Warehouse, grew saw adjusted pre-tax profits from continuing operations rise to £54 million in the year ending 31 March 2018, up from £53.3 million the previous year. The group’s performance was boosted by record levels of customers switching suppliers, with around 20 percent of domestic customers changing to a new supplier over the last 12 months. Telecom Plus’s customer and service numbers rose over the course of the year to 610,739 and 2,340,719 respectively. Figures also took into account the recent acquisition of a 75 percent shareholding in fast growing supplier/installer of domestic gas boilers Glow Green, for a total initial cash investment of £2 million. The company has reported a total dividend per share of 50 pence, a 4.2 percent increase on the previous year. The final dividend of 26p is expected to be paid on 3 August 2018, subject to shareholder approval at the AGM which will be held on 26 July 2018. Adjusted profits before tax for full year 2019 are expected to be between £55 million and £60 million. Shares in Telecom Plus (LON:TEP) are currently trading up 1.65 percent at 1,106.00 (0843GMT).