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 [...]
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 [...]
Pensions watchdog says Dominic Chappell knew BHS was insolvent when he bought it for £1 August 22, 2018 Dominic Chappell knew that BHS was insolvent when he bought it for just £1, the pensions watchdog has claimed. It follows fresh revelations in June that the retailer may not have been solvent in 2015, despite being signed off as a going concern by accountants. The Financial Reporting Council (FRC) has already fined PwC a record £10m [...]
Luke Johnson still ‘optimistic’ on leisure sector after selling stake in restaurant group Ego August 22, 2018 Veteran restaurant investor Luke Johnson has said he is still "optimistic" about the leisure sector despite recent high-profile failures. His comments came after it was confirmed that he has sold his stake in 3Sixty, the parent company of 17-strong restaurant chain Ego, to hospitality behemoth Mitchells and Butlers for what he told City A.M. was [...]
Target hits the bull’s-eye with highest same-store sales growth in 13 years August 22, 2018 Target has bucked the retail trend to publish strong sales growth today, reporting same-store sales that were higher than any it recorded in the past 13 years. The New York-listed retailer, the second largest in the US, saw same-store sales grow 4.9 per cent year-on-year in the three months ending early August, with the company crediting increasing [...]
Playtech boss gets £66k pay rise despite remuneration vote loss August 22, 2018 Gambling software manufacturer Playtech has awarded its chairman a £66,000-a-year secret pay rise months after losing a remuneration vote with shareholders. Chairman Alan Jackson has seen his salary increase from £384,000 to £450,000 a year, Sky News revealed, despite the fact that the company's share price has almost halved over the course of a year. The majority [...]
The Hut Group snaps up new office space at MediaCityUK in Salford for tech team August 22, 2018 The Hut Group, one of the UK's largest private companies, has taken up extra office space to accommodate its rapidly expanding head count. The company, which owns beauty and health brands including Skinstore and Lookfantastic as well as range of ecommerce sites, has snapped up space in Salford's MediaCityUK. The area is also home to large [...]
Moonpig owner Photobox Group acquires Dutch market leader Greetz August 22, 2018 Owner of greetings card firm Moonpig, Photobox, today announced it had bought rival Dutch firm Greetz. The acquisition positions Photobox as the market leader in greetings cards and personal gifting. Dutch market leader Greetz sold around 7.5m cards last year, and also provides services sending flowers, chocolates and beverages to customers. It widens Photobox's brands, which also [...]
Flooring distributor Headlam shares plummet as sales slow down in first half August 22, 2018 Shares in floor covering distributor Headlam dived five per cent after markets opened today as it reported a steep drop in sales in the first half of the year. Like-for-like revenue at the firm took a hit compared to last year, falling 5.2 per cent. Before tax profit edged up 0.9 per cent to £17.73m – while it [...]
Debenhams names new finance boss August 22, 2018 Debenhams has named Rachel Osborne as its new chief financial officer at a crucial time for the retailer amid the crisis on the high street. Osborne is currently finance boss of Domino's Pizza Group, but announced a sudden departure in June, sending the company's shares down five per cent. She was the third CFO of Domino's in [...]