Ocado: CEO pay jumps despite heavy losses and flagging share price March 6, 2025 The chief executive of Ocado has seen his pay jump despite continuing heavy losses at the technology and grocery platform. Tim Steiner took home more than £2.6m for his company’s latest financial year, a rise from the £1.9m he was awarded in the prior 12 months. The increase was mainly driven by a rise in [...]
Harbour Energy shares tumble as profit wiped out by windfall tax March 6, 2025 Harbour Energy shares slumped on Thursday after the North Sea producer swung to an annual loss. The stock tumbled more than eleven per cent in early deals as the London-listed company reported losses of $93m (£72.1m), down from a prior year profit of $45m. North Sea producers have hit out at the UK’s windfall tax, [...]
US business still a pest for Rentokil March 6, 2025 Pest control firm Rentokil Initial has reported lower profits after a “challenging year”, following a squeeze on its North American business lines. Revenue climbed marginally to £5.43 bn, up 1.1 per cent from 2023. Operating profit dipped 7 per cent to £834m in 2024, while adjusted earnings before interest, taxes and amortisation (EBITA) rose by [...]
Spire Healthcare shares plunge as group warns of cost hit despite NHS demand March 6, 2025 Shares in NHS private healthcare provider Spire Healthcare plunged by nearly a quarter in early deals this morning after the company warned that higher costs could cut earnings by as much as 10 per cent. The company said it faced a £30m hit to earnings before interest, tax, deprecation and amortisation (EBITDA) in the year [...]
FTSE 100 giant Admiral announces bumper special dividend as profit jumps March 6, 2025 FTSE 100 insurance giant Admiral has reported a significant jump in profit for 2024. Earnings per share nearly doubled to 216.6p, up from 111.2p in the previous year, as pre-tax earnings increased by 90 per cent to £839.2m Turnover rose by 28 per cent to £6.15bn, as insurance revenue grew by 37 per cent to [...]
Natwest, Barclays, HSBC lead months worth of online banking outages March 6, 2025 Nine of the UK’s biggest banks and building societies were down for over 803 hours – the equivalent of 33 days – over the last two years. Fresh data from the Treasury Committee shows a minimum of 158 IT failure incidents at banks had affected millions of consumers in the period between January 2023 and [...]
HMV: Sales on song as billionaire owner helps turn around high street icon March 6, 2025 Sales at HMV have more than doubled in the last three years as its recovery under the ownership of Canadian billionaire Doug Putman continues at pace. The high street staple has reported a turnover of £189.5m for the 12 months to 30 May, 2024, up from the £177.9m it achieved in the prior year. The [...]
Entain: Ladbrokes owner’s profit jumps thanks to online revenue growth March 6, 2025 British bookmaker Entain has reported a 12 per cent jump in annual profit as it returned to organic growth. The expansion was driven by online expansion and a better-than-expected performance at its UK and Ireland businesses. The Ladbrokes owner told the market on Thursday that earnings before interest, tax, deprecation and amortisation (EBITDA) rose 12 [...]
Profit slumps at Page Group and Robert Walters as jobs market collapses March 6, 2025 The slowing jobs market has forced two of the UK’s largest recruiters to reveal painful last-year performances in which profit and revenue nosedived. Page Group and Robert Walters both posted double-digit falls in overall revenue for the year ended 31 December. The latter’s earnings plunged 16 per cent to £892m, while Page Group’s dropped 13.5 [...]
UK’s payments regulator slams Mastercard and Visa for hiking fees March 6, 2025 The UK’s payments regulator has said the card market “isn’t working well” following a review into the fess charged by industry giants Mastercard and Visa. The Payment System Regulator (PSR) said on Thursday that the firms have raised core scheme processing fees 25 per cent since 2017, costing UK businesses an extra £170m a year. [...]