More than 750 jobs at risk as Bakkavor set to axe major UK factory September 5, 2024 More than 750 jobs are at risk at the fresh food maker Bakkavor after the London-listed group said it would close one of its North West factories. The company, which is headquartered in London, said today it was looking at axing its Wigan facility after a review revealed it would need “significant investment” to continue [...]
No ‘free pass’ for Royal Mail as Ofcom review gets underway September 5, 2024 Communications watchdog Ofcom is considering reforms to the UK’s embattled postal service, with changes to second class letter delivery proposed in order to help turn Royal Mail around. It follows the launch of a “national debate” earlier this year on how to ensure the postal service remains affordable, efficient and sustainable amid declining letter volumes [...]
Swissport makes first UK profit since 2018 as sales finally recover from Covid September 5, 2024 The UK arm of Swissport has returned to the black for the first time since 2018 as its turnover recovered to pre-pandemic levels. The Cheshire-headquartered division of the aviation services giant also created 1,400 jobs during its latest financial year but its total headcount is still significantly lower than it was in 2019. Swissport has [...]
International Public Partnerships rides high on ‘strong’ outlook for infrastructure September 5, 2024 Infrastructure investment company International Public Partnerships has continued to boost its portfolio with four new investments and has argued that the market considers its share price “materially undervalued.” The FTSE-250 firm hiked its dividend growth target by three per cent to 8.37p per share in the six months ended 30 June, and declared a fully [...]
Genus: Animal genetics firm begins recovery after gruelling year September 5, 2024 Animal genetics specialist Genus has shown early signs of stabilising after a gruelling year during which its share price tumbled by 20 per cent. Shares in the London-listed firm nose-dived in 18 per cent in a week in February after it reported collapses in the pork price and its bovine volumes in China, one of [...]
Fusion Antibodies: Pharma firm has ‘challenging’ year despite strong sales pipeline September 5, 2024 Pharmaceutical company Fusion Antibodies said it had a “challenging” year but has seen its sales pipeline grow. Fusion posted audited revenue of £1.14m for the year ended March 2024, a 60 per cent drop from the £2.9m it reported in 2023. The company, which specialises in antibody discovery, engineering and supply for therapeutic drugs, said [...]
Safestay: ‘Strong progress’ as hostel group boosted by Gen Z travel September 5, 2024 Premium hostel group Safestay have significantly shrunk their pre-tax loss as they undergo a gradual post-pandemic recovery supported by investment in new sites and demand from younger travellers. The AIM-listed company reported revenue of £10.7m in the six months ended 30 June 2024, up by 6.6 per cent from £10m in 2023. It reported earnings [...]
Nespresso: King Charles and David Beckham help coffee giant brew success September 5, 2024 The UK arm of Nespresso signed up David Beckham and used King Charles’ coronation to help boost its sales and profit during its latest financial year. The division, which is owned by Nestle, has reported a growth in its pre-tax profit for the 11th year in a row while its turnover has continued its run [...]
ABF: Primark owner powers through footfall slump to deliver solid growth September 5, 2024 Primark owner Associated British Foods (ABF) has reported a “significant improvement in profitability” despite a rainy summer threatening to dampen sales. The London-listed firm, which also owns Twinings Tea and a raft of food businesses, said it expected to see increased sales across its retail, grocery and ingredients divisions during its second half ending September [...]
Eurowag: Trucking services firm’s shares jump on higher revenue while profit slides September 5, 2024 Eurowag has reported a jump in revenue for the first half of 2024, while the FTSE 250 trucking services group's profit slid and it said it still had no plans to pay a dividend three years after listing in London.