Mortgage finance hub Lendinvest targets £500m London listing March 14, 2019 Online property finance marketplace Lendinvest has reportedly appointed advisers for a potential £500m float. Lendinvest has appointed corporate finance firm Lazards to advice on a listing, Sky News reported. It is set to appoint a syndicate of banks for a float that could happen as soon as this year. Sky reports that the banks are [...]
Sofa giant DFS doubles profit but warns of ‘challenging’ market in 2019 March 14, 2019 Sofa giant DFS more than doubled profits at the end of last year but warned of a softer start to 2019 and a “challenging” market in the year ahead. The furniture retailer reported pre-tax profits of £14.1m in the 22 weeks to the end of December, compared with £6.2m the previous year as online sales [...]
Cineworld hails kingsize profits after purchase of US cinema chain Regal March 14, 2019 Cineworld’s mega £2.7bn purchase of US cinema chain Regal sent profits soaring 125 per cent in 2018 the group revealed today, even as UK cinemas struggled. Read more: Cineworld shares slide due to disappointing UK revenue growth The figures Cineworld saw profit before tax grow 125 per cent to $349m (£262.9m) last year, up from [...]
Superdry founder Dunkerton calls for investor support amid plan to ‘supercharge’ firm March 14, 2019 Exiled Superdry founder Julian Dunkerton has written to shareholders urging them to vote him back onto the board as he outlined a plan to “supercharge” the company. Dunkerton, who left the firm in March last year, pledged to return the company to revenue growth, restore double-digit earnings margins and rebuild profitability within three years if he [...]
Debenhams considers Mike Ashley’s £150m loan offer March 14, 2019 Debenhams said it will give “careful consideration” to Sports Direct’s proposed £150m loan this morning, after receiving the offer last night. Read more: Sports Direct accuses Debenhams of 'deliberately misleading' the market The struggling department store chain received the 12-month loan offer from billionaire Mike Ashley last night, as the retail magnate accused the board [...]
Ray Kelvin held Ted Baker too tight March 14, 2019 Yet another big-name chief executive has stepped down from their position at the helm of a well-known British business. The founder of fashion retail brand Ted Baker, Ray Kelvin, announced last Monday that he was going to be resigning from his position as chief executive, as the firm investigates allegations that he behaved inappropriately toward [...]
Everyman’s growing chain of cinemas underpins rocketing revenue growth March 13, 2019 A raft of new cinemas helped Everyman Media Group grow revenue 27 per cent to £52m last year, as it prepares to open a further seven venues this year. Read more: Everyman cinemas on track amid expansion plan Earnings before interest, tax, depreciation and amortisation rose 38 per cent year on year to £9.2m, the [...]
Mike Ashley’s Sports Direct accuses Debenhams of ‘deliberately misleading’ the market March 13, 2019 Mike Ashley’s Sports Direct has accused the Debenhams board of “deliberately misleading” the market as the retail tycoon continues to pile the pressure on the struggling high street firm. Sports Direct, which owns a 30 per cent stake in Debenhams, has written to the Financial Conduct Authority (FCA) with concerns that recent trading updates have misled investors [...]
Watchdog bans Sky Bet ad starring Jeff Stelling over sports knowledge claim March 13, 2019 A Sky Bet advert starring football presenter Jeff Stelling has been banned by the industry watchdog over fears it could lead to irresponsible gambling. The Advertising Standards Authority (ASA) said the advert implied those with a good knowledge of sports would have more gambling success and gave an exaggerated perception of how much control punters [...]
Karren Brady and a lesson on the duties of directors March 13, 2019 Several months after Sir Philip Green became embroiled in a highly publicised scandal, Karren Brady resigned as chair of his retail empire. Despite allegations of harassment and discrimination made by staff against Green, Brady initially intended to remain with Taveta Investments, the holding company of Green’s Arcadia Group. She cited her duty to employees as [...]