Thomas Cook share price crashes as it suffers ‘grim’ £1.45bn loss and issues fresh profit warning May 16, 2019 Thomas Cook shares plunged today as it issued a fresh profit warning and revealed a stunning £1.45bn loss in the six months to the end of March, after booking a £1.1bn goodwill impairment relating to a merger from over a decade ago. Read more: Thomas Cook shares leap following Lufthansa bid for airline business The [...]
Burberry shares fall as transformation plan takes toll on growth May 16, 2019 Shares in Burberry fell 4.5 per cent this morning after the firm posted broadly flat revenue and profit in the first year of its major transformation plan. Read more: Burberry keeps momentum from China despite trade war fears The figures Revenue remained broadly flat at £2.72bn for the year to the end of March. Pre-tax profit [...]
Judge dismisses appeal over $210m Gauguin painting deal May 15, 2019 Swiss art collector Ruedi Staechelin has lost his appeal to avoid paying a $10m (£7.77m) commission fee to Simon and Michaela de Pury for their role in the sale of one of the world’s most expensive paintings. Staechelin sold Paul Gauguin’s ‘When Will You Marry?’ to the Emir of Qatar for $210m in 2014, using [...]
Moss Bros gears up for crucial summer season after sales bump May 15, 2019 Moss Bros started 2019 with a bump in sales, the men’s tailoring giant revealed today, as it looks to recover from a spate of profit warnings in the upcoming summer selling season. The menswear firm, which was founded in 1851, reported a 1.5 per cent rise in total sales for the business from the end of January to [...]
Marston’s cheers rise in profits after strong easter May 15, 2019 Pub giant Marston’s posted a bump in underlying revenues and profits today, as a strong Easter showing bolstered the group’s half-year trading performance. Shares in the brewery giant, which operates more than 1,500 pubs in the UK, rose five per cent in late-morning trading. Read more: Pub operator Ei Group’s profits rise thanks to drinks [...]
British Land swings to a loss as retail troubles hit property values May 15, 2019 British Land became the latest in a string of property giants to reveal a fall in the value of its assets today, swinging to a loss amid turmoil in the retail sector. The FTSE 100 group, which owns developments such as Broadgate campus in the City of London, reported a £300m loss in the 12 months [...]
Experian posts 2019 profit rise helped by global growth May 15, 2019 Credit reporting company Experian’s profit grew in 2019 thanks to global expansion, with its North America and Europe, Middle East, Africa (EMEA) and Asia Pacific divisions seeing double digit revenue growth. Read more: Experian abandons £275m Clearscore merger after competition watchdog probe The figures Experian’s profit before tax rose at an actual rate of one per cent, [...]
William Hill boosts revenue after international expansion campaign May 15, 2019 Bookmaker William Hill said today it had increased its revenue after a campaign of international expansion. In a trading update for the 17 weeks to 30 April, William Hill said net revenue grew two per cent, which it said reflected a “year of transition in retail and online”. Online net revenue grew eight per cent, [...]
Cineworld maintains guidance as it looks ahead to bumper slate of films May 15, 2019 Cineworld has said it is on track to deliver full-year revenue in line with expectations, as it looks ahead to a string of hit releases later in the year. The London-based cinema chain posted a 9.4 per cent drop in revenue over the first quarter, which it blamed on the timing of major releases such [...]
Walmart mulls Asda IPO after Sainsbury’s merger blocked May 15, 2019 Retail giant Walmart has said it is considering a stock market listing for Asda, just weeks after the supermarket’s failed attempt to merge with rival Sainsbury’s. Walmart International boss Judith McKenna said the US chain is considering an initial public offering (IPO) for its UK subsidiary, but said it was “not rushing into anything”. Read [...]