Premier Oil doubles profits as it eyes new North Sea project August 23, 2018 Premier Oil struck it rich with its half-yearly results today, posting a doubling of profits to almost $100m (£78m). Higher oil prices pushed the British energy firm’s profits after tax up from $40.7m in the first half of 2017 to $98.4m for the six months to the end of June this year. The company saw [...]
Sharp rise in profits and asset values as John Laing Group’s share price jumps August 23, 2018 Infrastructure investor John Laing Group’s share price climbed more than eight per cent in early morning trading, as the firm posted a rise in both net asset value (NAV) and profits for the first half of 2018. The FTSE 250 company’s NAV hit £1.51bn by the end of June, compared with £1.12bn in December last [...]
Southend Airport owner Stobart Group makes trio of appointments following bitter boardroom dispute August 23, 2018 Stobart Group, the troubled owner of Southend Airport, today appointed a woman to its board as it looks to rebuild after a fierce boardroom row at the company. The firm said it would appoint the co-founder of PR agency Citigate Dewe Rogerson, Ginny Pulbrook, as a non-executive director from 1 October 2018. Its shares grew five per [...]
Playtech profits fall due to “disappointing” Asian markets as chairman scoops pay rise August 23, 2018 Gambling software manufacturer Playtech has reported a 34 per cent in profits due to “disappointing” Asian markets. The gaming and casino software provider said adjusted net profit had fallen to €83.3m (£74.8m) in the first half of the year, despite revenue rising four per cent. Despite the profits falls, the company awarded chairman Alan Jackson [...]
Phoenix expects to beat cash targets as £3.2bn Standard Life Assurance acquisition nears close August 23, 2018 Insurer Phoenix Group said today it expects to beat its target for cash generation this year as it announced its half-year results. Phoenix, which focuses on acquiring life insurance units that are closed for new business, said its acquisition of Standard Life Assurance for £3.2bn was progressing well with the deal expected to close on [...]
OneSavings lifts loan growth forecasts but warns of weaker Buy-to-Let mortgage market August 23, 2018 Specialised lender OneSavings Bank raised its expectations for loan growth today, despite pressure on profit margins amid a weaker Buy-to-Let mortgage market. The FTSE 250 firm’s loan book grew 11 per cent to £8.1bn during the first six months of 2018, with full-year targets for net loan book growth upgraded to high-teens percentages from an [...]
Shares climb higher for Franco Manca’s owner as sales heat up August 23, 2018 Shares in Franco Manca owner The Fulham Shore are trading higher this morning after the company struck a more positive note in its latest trading update. The company, which also owns The Real Greek, has previously warned of a dip in sales at some of its sites and taken action to slow down its rate [...]
Comcast extends deadline for Sky shareholders to accept £26bn offer August 23, 2018 Comcast has extended the deadline for Sky investors to accept its £26bn offer to buyout the company, a statement revealed last night. Shareholders now have until 12 September to green light the US media company's 14.75 per share offer. It follows 0.2 per cent of Sky investors giving their consent by the previous deadline yesterday. Most [...]
Saudi Arabia pulls the plug on Aramco float August 22, 2018 Saudi Arabia has ditched plans to list state oil magnate Aramco on both international and domestic stock exchanges, according to reports. Previously labelled as the biggest deal of its kind in history, senior industry figures told Reuters that the decision to call off the initial public offering (IPO) was made “some time ago”, and that [...]
Goldman Sachs sells City of London office to Korea August 22, 2018 Goldman Sachs has sold its new City of London European headquarters to South Korea's National Pension Service for £1.7bn. The bank will enter into a 25-year lease on the building in Plumtree Court with a break option after 20 years. Staff will move into the building, which is between Chancery Lane and St Paul's station, in the middle [...]