Challenger bank Shawbrook prices shares at top of range on IPO April 1, 2015 Challenger bank Shawbrook may be late to the IPO party, but that hasn't prevented it from getting its flotation off to a running start, after it priced shares at 290p each, near the top of its range of 255p-305p on its first day of conditional trading. The pricing valued the bank at £725m, raising £90m [...]
FirstGroup gets back on track with UK bus and rail transformation plan April 1, 2015 FirstGroup has faced a difficult couple of years, but its focus on transforming UK bus and rail operations is starting to pay off. The figures In a trading update posted today, the train and bus operator said it expects full-year growth across all its UK offerings, in line with expectations. It said it had [...]
Asos UK sales soar but half year profit is cut by 10pc April 1, 2015 Asos' share price soared more than six per cent this morning after releasing a bullish statement for the rest of the year. The figures Asos has reported a rise in group revenue for the first half to 28 February, with group sales climbing. 14 per cent. UK retail sales soared 27 per cent but profit before [...]
Veronique Laury: DIY is not dead, says chief exec of Kingfisher March 31, 2015 The chief executive of Kingfisher denied yesterday that the younger generation had fallen out of love with DIY, even as the home improvement chain announced the closure of one in six stores across the UK. Veronique Laury, who took the helm at Kingfisher in January, said: “I am not one of those who thinks DIY [...]
Tidjane Thiam earnt £11.8m in last year as Prudential’s chief executive March 31, 2015 Outgoing Prudential chief executive Tidjane Thiam received £11.8m in his final year at the company, the insurer revealed yesterday. The vast majority of that came from long-term incentive awards – those payouts gave him £8.3m. Combined with a salary of just over £1m, pension contributions of almost £400,000 and a bonus of £2.1m, the boss [...]
How the Grangemouth tough guys Jim Ratcliffe and Calum MacLean fell out March 31, 2015 When Ineos was founded in 1998, it was formed by Jim Ratcliffe in an £84m buyout of a chemicals firm. Sixteen years later, Ratcliffe and his team, including Calum MacLean, had built that into an industrial titan with operations in 16 countries and turnover of $54bn (£36bn) a year. An aggressive approach to acquisitions and [...]
Simon Murray stands down as boss of Gulf Keystone Petroleum March 31, 2015 Oil firm Gulf Keystone Petroleum revealed yesterday that its colourful chairman Simon Murray is to retire. Ex-Glencore chairman Murray has had a varied past, which includes a stint in the French Foreign Legion. He previously led Li Ka-Shing’s Hutchison Whampoa for 10 years, and is famously known for having once been chased by a leopard. [...]
Quindell founder Rob Terry buys into Daniel Stewart sending shares up 750 per cent March 31, 2015 Quindell founder Rob Terry upped his stake in broker Daniel Stewart sending the firms' shares soaring today. Shares in Daniel Stewart, which offers corporate advisory and institutional stockbroking services, jumped 750 per cent to close at 1.7p. They had only recently started trading again following a suspension in October for failing to publish its annual report. [...]
Marston’s just took another gulp of Thwaites March 31, 2015 British pub brewer and operator Marston's has said it will take another gulp of north-west based brewer Thwaites. In an update to the London Stock Exchange today, Marston's, which has been brewing Thwaites' beers since early last year, announced it had bought its beer division outright for £25.1m. As part of the acquisition, Marston's has [...]
Kingfisher share price rises on plans to close 60 B&Q stores in UK and Ireland March 31, 2015 Kingfisher's profits fell last year despite an increase in sales, but plans to close 60 B&Q stores have sent shares up. The figures The DIY retailer, which owns B&Q among others, experienced a 2.9 per cent increase in sales last year, but its pre-tax profits fell 7.5 per cent to £675m. The figures, for the [...]