Litigation Capital Management profit drops but strategic plan remains on track September 17, 2024 The firm's pretax profit in the 2024 financial year dropped to AUD16.1m (£8.2m), down from AUD42.7m last year.
Headlam hit with £16m loss as Brits cut home improvement spending September 17, 2024 British flooring specialist Headlam has endured a tough six months, blaming a drop in home improvement spending as the key factor behind a sharp fall in revenue. The London-listed firm saw its revenue slide by just under 12 per cent year-on-year for the six months to June 2024, with UK sales down 11 per cent [...]
JTC: Profit soars after spate of acquisitions September 17, 2024 Financial services provider JTC has hailed a good start to the year after beating its upgraded guidance after a flurry of acquisitions. The acquisitive fund management firm, which is a FTSE 250 constituent, reported revenue of £147.1m in the six months to 30 June, a 21.1 per cent rise on the year prior. Earnings before [...]
Kingfisher shares soar: B&Q owner sales dip as customers shun ‘big-ticket’ items September 17, 2024 B&Q owner Kingfisher has reported a “resilient” set of results after a series of profit warnings last year, but weaker sales in France continued to weigh on profit. According to its half-year earnings for the six months ended 31 July 2024, sales fell by 1.8 per cent overall, to £6.75bn from £6.9bn, while gross profit [...]
OVO Energy to pay out millions in compensation after Ofgem probe September 17, 2024 The UK’s fourth-largest energy supplier, OVO, has agreed to a £2.37m settlement following a regulatory investigation by Ofgem. The energy watchdog uncovered significant delays in addressing customer complaints, with some unresolved for up to 18 months. In addition, OVO failed to action the Energy Ombudsman’s rulings in certain cases. As part of the settlement, the [...]
Playtech sells Italian arm to Flutter for £2bn September 17, 2024 London-listed gambling tech provider Playtech has agreed to sell its Italian gaming arm Snaitech to Flutter Entertainment for €2.3bn (£1.9bn). Playtech first confirmed discussions with Flutter, the owner of Paddy Power and Betfair, in August. The deal values Snaitech at a significant premium to Playtech’s market capitalisation as of 13 August, the last date before negotiations [...]
THG looks at separating THG Ingenuity arm September 17, 2024 THG, the global beauty and nutrition group, has announced it’s looking to demerge its THG Ingenuity brand. The company, which also owns City A.M. and is based in Manchester, told the market today it’s “actively undertaking detailed work to review potential structures to facilitate the demerger of THG Ingenuity.” “At this stage no certainty can [...]
Grenfell-linked firms awarded £350m in public sector contracts since fire September 17, 2024 Companies linked to the Grenfell fire have been awarded over £350m in public sector contracts since the building tragically caught fire seven years ago, a new analysis of public sector contracts has revealed. Figures shared with City A.M. showed that Saint-Gobain, Rydon and Kingspan – which all had connections to the fire – have between [...]
The Bank of England decision that really matters this week September 17, 2024 The Bank of England's interest rate decision later this week looks like a done deal. But there is another, arguably more important, decision you should be paying attention to, Chris Dorrell writes
Lessons must be learned from the demise of Harland & Wolff September 17, 2024 Harland & Wolff on Monday declared insolvency following weeks of turmoil since the government refused to provide financial support.