William Hill reveals encouraging signs after a year to forget in 2016 February 24, 2017 William Hill put on a brave face on its full-year performance this morning with the firm's share price rising nearly one per cent after the bookmaker delivered figures that were in line its revised guidance. The figures Net revenue was up one per cent to £1.6bn but adjusted operating profits dived 10 per cent to £262m. [...]
Electoral Commission opens investigation into spending of EU referendum campaigns February 24, 2017 The UK Electoral Commission has launched an investigation into the spending of the Leave and Remain campaigns ahead of last year's EU referendum. Figures released last year showed a 52 to 48 per cent split between Leave and Remain in EU referendum donations. The Electoral Commission today published details of more than £27m of campaign spending, [...]
Car smashes into City branch of Pret a Manger February 24, 2017 City workers in the Fenchurch Street area seeking their morning coffee and croissant fix will have a little further to go today. Police are investigating after a car smashed through the front of the Pret a Manger branch in Cullum Street last night, putting the store out of action. A Pret spokesperson said the company is helping the [...]
Boeing is building its first European factory in Sheffield in a bid to “support the UK’s long-term prosperity” February 24, 2017 Boeing today announced it will invest £20m to open a new production facility in Sheffield – its first ever manufacturing facility in Europe – in an effort to support Britain's long-term prosperity. The facility is part of a plan to reduce supply chain costs by manufacturing key components and systems in the US and the UK in-house. The 2,300-square metre site [...]
This is how City analysts reacted to RBS’ results February 24, 2017 Royal Bank of Scotland reported its ninth consecutive annual loss this morning, pushing shares down two per cent. The lender's losses widened to £6.96bn in 2016, compared with £1.98bn the year before, largely due to litigation and conduct costs. This is how the analysts reacted: Groundhog Day RBS chief exec Ross McEwan "must feel that he is [...]
Jupiter’s share price falls despite dividend boost as earnings come in below expectations February 24, 2017 Jupiter Fund Management’s share price dropped four per cent this morning after the FTSE 250 firm reported earnings below expectations. The figures The asset manager reported net inflows of £1bn in its full-year results for 2016, down from £1.9bn in 2015. Total assets under management, buoyed by the performance of stock markets, rose from £35.7bn [...]
British Airways owner IAG has revealed a share buyback programme after strong performance in 2016 February 24, 2017 British Airways and Aer Lingus owner International Airlines Group (IAG) revealed it will increase cash returns to investors with a share buyback programme after profit rose in line with expectations. The figures For the year to the end of December, the airline group's operating profit rose 8.6 per cent to €2.54bn (£2.15bn). But total revenue fell [...]
Rightmove revenues jump as it attracts a record number of customers – but chief exec steps down February 24, 2017 Take that, rivals: Rightmove beat analyst expectations on almost every level with its 2016 results – another sign worries about the property market after the EU referendum were misplaced. The figures Revenues rose 15 per cent to £220m in 2016, with underlying operating profit rising 15 per cent to £166.2m. The company said it had attracted a record number of customers, with its [...]
Former FT publisher Pearson lays bare 2016 results after “challenging year” February 24, 2017 Pearson’s share price jumped three per cent at the open this morning before falling away after the struggling education business reported its full-year results. Although the figures reflected a “challenging year”, with sales down eight per cent and operating profit falling 21 per cent, investors had already been briefed on the damage in a January [...]
Theresa May’s Conservatives have secured an historic victory in the Copeland by-election February 24, 2017 Theresa May’s Conservatives have become the first governing party to gain a seat at a by-election for 35 years, snatching the constituency of Copeland in an embarrassing defeat for Jeremy Corbyn’s Labour party. Conservative candidate Trudy Harrison won the race to replace Labour MP Jamie Reed, who stepped down late last year to work at the [...]