How Rightmove became London’s (and the FTSE 100’s) most profitable company September 3, 2024 From an unknown tech start-up to the undisputed king of the UK’s online property sector, Rightmove is a shining example of how to turn a simple idea into a whole lot of profit. In its most recent full-year results, the London-listed property portal astounded investors by revealing it had achieved a record 71 per cent operating profit margin – [...]
‘Chicken King’ Ranjit Singh Boparan to sell poultry arm to himself September 2, 2024 The poultry arm of 2 Sisters Food Group, which is owned by the so-called ‘Chicken King’ Ranjit Singh Boparan, is to be sold to his private office for more than €200m (£168m). Boparan, who also owns high street restaurant brands like Carluccio’s and Gourmet Burger Kitchen, is to sell the European poultry operation to his [...]
Rightmove shares jump by a quarter as News Corp-owned REA eyes £4.4bn swoop September 2, 2024 Australian property giant REA Group, backed by Rupert Murdoch's News Corp, is considering a £4.4bn takeover bid for UK competitor Rightmove.
Stake in Lewis Hamilton’s non-alcoholic spirit Almave bought by Pernod Ricard August 29, 2024 A stake in Lewis Hamilton’s non-alcoholic tequila alternative has been snapped up by spirits giant Pernod Ricard. Pernod Ricard did not disclose the size of its investment in the brand but did confirm that it was a minority stake. Seven-time Formula One world champion Lewis Hamilton co-founded the brand, alongside drinks incubator business Casa Lumbre [...]
Green light finally expected for £2.5bn Barratt and Redrow mega-merger August 28, 2024 The £2.5bn mega-merger of housebuilders Barratt and Redrow looks set to be finally given approval by the Competition and Markets Authority (CMA). The watchdog launched an investigation into the proposed deal in June after it was first announced in February. Now, the watchdog has said it considers that there are reasonable grounds for believing that [...]
Funerals giant Dignity cuts loss by almost £300m after quitting London Stock Exchange August 28, 2024 Funerals giant Dignity dramatically cut its pre-tax loss by almost £300m in the year it quit the London Stock Exchange, it has been revealed. The Sutton Coldfield-headquartered group, which delisted in May last year, has reported a pre-tax loss of £42.1m for 2023 having lost £327.9m in 2022. Newly-filed documents with Companies House also show [...]
Mike Ashley’s Frasers Group snaps up stake in Australian retail group August 28, 2024 Mike Ashley’s Frasers Group has continued its acquisition spree with a strategic investment into the Australian retail and distribution firm Accent. The London-listed retail empire snapped up a 14.65 per cent stake in the company in a move it hopes will further its footprint in Australia and New Zealand – identified as a key market [...]
Weetabix sale helps snack maker Wholebake slash loss August 27, 2024 Wholebake, the company behind snack brands Brynmor, Nine and Bounce, has significantly cut its loss after selling its cereal business to Weetabix, according to newly-filed accounts. The manufacturer, which is headquartered in the Welsh town of Corwen, Debighshire, saw its pre-tax loss slashed to £1.8m in the year ending 30 March, 2024, down from £6.7m [...]
Arts and crafts giant Hobbycraft sold to Ted Baker investor August 27, 2024 Hobbycraft, which is one of the UK’s biggest arts and crafts retailers, has been snapped up by a specialist investor whose team has previously supported chains including Paperchase and Tie Rack. Investment group Modella Capital announced it had bought the Bournemouth-headquartered company from its majority owner, the fund management group Bridgepoint, for an undisclosed sum. [...]
Crest Nicholson shares slump as Bellway walks away from £720m takeover August 13, 2024 London-listed housebuilder Bellway has announced it will not make a firm offer to buy rival Crest Nicholson with the company stating that its “strong balance sheet” and land bank would be sufficient to fuel growth independently. Following the announcement Crest Nicholson’s shares slumped by just over 16 per cent to 221p per share. Bellway first [...]